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February 4th - In a report, Kit Juckes of Societe Generale stated that the euro may weaken against the dollar in the second half of 2026, as its recent appreciation has exceeded what interest rate differentials could explain. Over the past year or so, the euro's gains have consistently outpaced what the two-year interest rate differential suggests, and this trend is expected to continue into early 2026. This indicates that the market is cautious about confronting Trump's stance of wanting a weaker dollar. In this context, overseas investors may choose to hedge against the risk of a weaker dollar, but this is more likely to occur in the first half of this year.

The U.S. Treasury Department reiterated its plan to keep bond issuance levels stable for "at least the next few quarters".

February 4th - A report released Wednesday by ADP, an American data processing company, showed that the U.S. labor market nearly stagnated in January, with job growth even falling short of already modest market expectations. Data showed that the private sector added only 22,000 jobs in January. If it weren't for an unexpected increase of 74,000 jobs in the education and healthcare sectors, overall employment would have shown negative growth. This result is not only lower than the revised 37,000 new jobs added in December, but also significantly less than the 45,000 expected by the Dow Jones survey. This report suggests that the start of 2026 will largely continue the trend of 2025: a "low-hit, low-layoff" employment environment characterized by weak hiring and limited layoffs. This situation is unlikely to alleviate the concerns of Federal Reserve policymakers that the economy still needs more support.

Senator Scott, Chairman of the Senate Banking Committee: (Regarding Warsh) He will 100% receive confirmation. Tillis (Republican Senator) is expected to ultimately vote to confirm the nomination. He does not believe Powell has committed a crime.

AMD (AMD.O) shares fell 10% in pre-market trading.

According to the Iranian Students' News Agency, the talks between Iran and the United States were limited to the nuclear issue and sanctions easing.

U.S. Treasury Department: By late April, the balance of the U.S. Treasury Department’s general account may have reached a peak of approximately $1.025 trillion.

U.S. Treasury: Still assessing potential future increases in the size of coupon and floating-rate Treasury auctions.

The U.S. Treasury Department stated that whether to increase the auction size in the future will take into account the changing trends in structural demand and the potential costs and risks to the issuance structure.

The U.S. Treasury will auction $42 billion in 10-year Treasury bonds, $58 billion in 3-year Treasury bonds, and $25 billion in 30-year Treasury bonds.

According to the Iranian Students' News Agency, US Presidential Envoy Witkov and Iranian Foreign Minister Arachne will attend talks in Oman.

According to the Iranian Students' News Agency, nuclear talks between Iran and the United States will be held in Oman on Friday, with a format similar to previous rounds.

ADP report: Salary growth for employed workers remained largely unchanged in January, with a year-over-year increase of 4.5%. However, the year-over-year salary increase for those changing jobs slowed to 6.4% from 6.6%.

ADP report: The total number of new jobs in December has been revised from 41,000 to 37,000.

Financial website InvestingLive commented on the US January ADP employment data: The situation is quite severe, with widespread loss of various white-collar jobs, while net job growth is almost entirely concentrated in government-related fields.

On February 4th, Guo Shougang, Deputy Director and First-Level Inspector of the Equipment Industry Department of the Ministry of Industry and Information Technology, stated at a special press conference held by the State Administration for Market Regulation that the Ministry of Industry and Information Technology will continue to thoroughly implement the requirements of the "National Standardization Development Outline" and the "New Energy Vehicle Industry Development Plan (2021-2035)," accelerate the development of key standards such as driving automation, collision safety, and control components, and promote the improvement of vehicle safety and quality performance through standard upgrades, laying a solid foundation for the high-quality and sustainable development of the industry.