Global Economy Briefing: February 4, 2026 Morning

2026-02-04 - 09:35

Key Points French inflation collapsed: CPI fell to 0.3% y/y, well below expectations, reinforcing the ECB easing case. Asia-Pacific services PMIs surged across Japan, Australia, and China, signaling broad-based demand resilience. U.S. crude inventories drew down sharply (−11.1M barrels); consumer optimism improved but retail spending slowed. United States Oil markets got the headline. API reported