LOOK AHEAD: Eurozone Timeline of Key Events (Times GMT)

In North East Asia, FX markets have shown little aggregate movements. G10 FX markets have been very muted, with Japan markets out and head of Fed Chair Powell testimony later. Regional equity sentiment has been mixed, with HK and China markets giving back some recent gains. 

• The USD/CNY fixing edged higher, but USD/CNY onshore spot has remained capped under 7.3100 so far today. USD/CNH has drifted a little lower, last near 7.3100 level, but maintains a positive bias with onshore spot.
• USD/KRW spot has edged a little higher, last above 1453, but remains within recent ranges. We had the first 10-days of trade data for Feb earlier. Trends can obviously shift in the month, but the early weakness in daily average exports points to continued softness in full month export trends. Spot USD/TWD is little changed, continuing to track in the 32.80/85 region.
• Spot USD/INR slumped in the first part of trade, falling over 1%, as markets moved away from the 88.00 level, which was threatened yesterday. We were last 86.85/90, up from earlier lows (86.64). RBI intervention may have also been more prominent in recent sessions.
• USD/THB has climbed back above 34.00, the pair last in the 34.05/10 region. This is around 0.50% weaker in THB terms. Earlier Feb highs were at 34.15.
• Spot USD/IDR has gravitated higher, last near 16370/75. Indonesia’s consumer confidence was slightly lower in January at 127.2 after 127.7 but it printed above the Q4 average of 124.9 and remains at a solid level and in line with continued robust private consumption growth of around 5%, where it was in Q4. 

• According to CCTV News, the China Association of Small and Medium Enterprises announced today (11th) that China's SME Development Index in January was 89.0, up 0.1 points from December last year. Data from the China Association of Small and Medium Enterprises showed that the market demand for small and medium-sized enterprises improved steadily in January. The data also showed that the macroeconomic perception and industry situation perception index of small and medium-sized enterprises in January both rose by 0.3 points compared with December last year, showing that small and medium-sized enterprises have a positive outlook for future development.  (source: Yicai.com).
• Confidence in China's economic prospects remained upbeat this month, as chief economists surveyed by Yicai expect the effects of government stimulus policies to become more apparent as they are gradually implemented.  The Yicai Chief Economists Confidence Index came in at 50.62 for February, down from 50.66 in January and 50.72 in December but remaining above the contraction-expansion threshold of 50 for the fifth straight month. Yicai polled 11 leading China-based chief economists. (source: Yicai.com)
• China’s major bourses were lower today as President Trump signing tariffs on steel and aluminium imports as he indicated that autos, chips and pharmaceuticals were next in his sights.
• The Hang Seng lead the way lower down -0.59%, with the CSI 300 down -0.36%, Shanghai Comp down -0.16% and Shenzhen down -0.31%
• Taiwan’s TAIEX bucked the trend rising +0.20% today.
• CNY:  Yuan Reference Rate at 7.1716 Per USD; Estimate 7.3072
• Bonds:  yesterday’s selloff was short lived with the grind lower in yield resuming, CGB 10YR 1.62% (-1bp today). 

• China’s major bourses were lower today as President Trump signing tariffs on steel and aluminium imports as he indicated that autos, chips and pharmaceuticals were next in his sights.
• The Hang Seng lead the way lower down -0.59%, with the CSI 300 down -0.36%, Shanghai Comp down -0.16% and Shenzhen down -0.31%
• Taiwan’s TAIEX bucked the trend rising +0.20% today.
• The Jakarta Composite continued its poor run down -1.50%, to be down for a fifth successive day of trading.
• As Indian markets get going on their trading day the NIFTY 50 is opening very weak, down -0.45% in what could be a fifth successive day of declines.
• Korea however is bucking this trend as discussions in parliament centre around a special budget to stimulate growth in the ailing economy.  Yesterday the opposition proposed the idea of an additional budget and the ruling People’s Party said today, it does not oppose the idea. 
• The KOSPI is a regional bright spot today up +0.83%