1. Report Industry Investment Rating - Not provided in the report 2. Core Viewpoints of the Report - The freight rates of container shipping index (European Line) futures mostly rose this week. The main contract EC2604 closed up 2.14%, and the far - month contracts had gains ranging from - 2% to 5%. The delay of the Red Sea resumption of navigation and the shipping companies' price increase announcements boosted the futures prices. However, the implementation of the price increase is expected to be less than expected due to the unchanged supply - demand pattern. The cancellation of the full - tax refund for photovoltaic products may lead to a rush of shipments, supporting the April contract [6][35]. - China's foreign trade improved significantly in December 2026, which may be related to the cancellation of value - added tax export tax rebates for some commodities and the pre - holiday rush of exports. China's exports are expected to maintain a relatively high growth rate in 2026 [6][35]. - Although trade relations are gradually improving, China's exports to the US are still under pressure due to the high tax rate of nearly 40%. The boosting effect of the traditional peak season may be weaker than expected. Investors are advised to be cautious, pay attention to the operation rhythm and risk control, and track geopolitical, shipping capacity and cargo volume data [7][36]. 3. Summary According to the Directory 3.1. Market Review - The prices of the main contracts of container shipping index (European Line) futures rose this week. The EC2604 contract had a weekly increase of 2.17% with a price increase of 27.00 and a closing price of 1269.80; the EC2605 contract had a weekly increase of 2.69%, etc. The SCFIS index closed at 1657.94, down 7.5% or 134.2 points from last week. The trading volume and open interest of the EC2604 contract were generally stable [10][13][14]. 3.2. News Review and Analysis | News | Impact | | --- | --- | | Trump's statement on US - Iran negotiation | Neutral [17] | | US Congress's resolution against Trump's tariff on Canada | Neutral - bullish [17] | | Fed officials' statements on monetary policy | Neutral [17] | | China's central bank's monetary policy report | Neutral [17] | 3.3. Weekly Market Data - The basis and spread of container shipping index (European Line) futures contracts shrank this week [24]. - Global container shipping capacity continued to grow, and the shipping capacity on the European Line increased slightly. The BDI and BPI rebounded, and freight rates fluctuated slightly [29]. - The charter price of Panamax ships declined this week, and the spread between the offshore and onshore RMB against the US dollar converged [31]. 3.4. Market Outlook and Strategy - The current situation shows that although shipping companies have announced price increases for March - April, the probability of implementation is not high. The rush of exports caused by the photovoltaic tax - refund policy supports the April contract. Investors should focus on the actual implementation of the price increase announcements. Due to the high tax rate, China's exports to the US are under pressure, and the traditional peak - season effect may be weak. Investors are advised to be cautious and track relevant data [36].

Group 1 - The chemical industry is experiencing favorable policies, particularly in the pesticide sector, with 94 pesticide varieties, including glyphosate, set to enjoy VAT export tax rebates starting April 1, 2026, which is expected to lower costs for pesticide companies and boost export demand [1] - As a listed company in the agrochemical sector, Bluestar Bio-chemical (002513) may benefit indirectly from the overall improvement in industry sentiment due to these policies [1] - The chemical sector is showing active performance, with price increases in disperse dyes driving related stocks up, although Bluestar Bio-chemical's main business focuses on pesticides, necessitating attention to the policy's specific impact on its operations [1] Group 2 - In the past seven trading days, Bluestar Bio-chemical's stock price has shown a downward trend, closing at 7.25 yuan on February 13, down 6.45% from a high of 7.75 yuan on February 9, with a price fluctuation of 7.84% during this period [2] - On February 13, there was a net outflow of 4.2618 million yuan from major investors, while retail investors showed a net inflow [2] - Technically, the stock is currently near the middle band of the 20-day Bollinger Bands, with a short-term resistance level at 7.78 yuan and a support level at 6.83 yuan, while the MACD indicator suggests a cautious market sentiment [2]

1. Report Industry Investment Rating - No information provided in the report 2. Core Viewpoints of the Report - On Wednesday, most prices of the container shipping index (European line) futures declined, with the main contract EC2604 closing down 4.57%. The latest SCFIS European line settlement freight index was 1657.94, down 134.2 points from last week, a 7.5% week - on - week decline [2] - The cancellation of full - tax refunds for photovoltaic products is expected to lead to a rush for shipping, which will boost long - term contract cargo volume. However, after the trading sentiment stabilizes, the increase brought by the news will be reversed [2] - China's foreign trade level in December 2025 rebounded unexpectedly, with both imports and exports improving significantly, possibly related to the cancellation of value - added tax export rebates for some commodities and pre - holiday rush exports. China's exports are expected to maintain a high growth rate in 2026 [2] - Although some shipping companies have announced price increases for Asia - to - Northwest Europe and the Mediterranean routes, due to the unchanged supply - demand pattern, the implementation may fall short of expectations [2] - The resumption of the IMX/ME11 route in the Red Sea Canal by Maersk and Hapag - Lloyd has actual execution risks, and the actual effect remains to be seen [2] - The market is optimistic about the economic recovery of the eurozone, and inflation is approaching the target level, supporting the expectation that the European Central Bank will keep interest rates unchanged in the foreseeable future [2] - The current freight market is greatly affected by seasonal demand. Investors are advised to be cautious, pay attention to the operation rhythm and risk control, and track geopolitical, shipping capacity and cargo volume data in a timely manner [2] 3. Summary by Relevant Catalogs 3.1 Futures Market Data - EC main contract closing price: 1177.900, down 17.0; EC second - main contract closing price: 1501, down 14.10 [2] - EC2604 - EC2606 spread: - 323.10, down 2.30; EC2604 - EC2608 spread: - 403.10, down 5.80 [2] - EC contract basis: + 1.10, at 480.04 [2] - EC main contract open interest: 33027 lots, down 872 [2] 3.2 Spot Market Data - SCFIS (European line) (weekly): 1657.94, down 134.20; SCFIS (US West Coast line) (weekly): 1,155.66, up 54.26 [2] - SCFI (composite index) (weekly): 1266.56, down 50.19; Container ship capacity (in 10,000 TEUs): 1,227.97, down 0.10 [2] - CCFI (composite index) (weekly): 1122.15, down 53.44; CCFI (European line) (weekly): 1,535.03, down 39.66 [2] - Baltic Dry Index (daily): 1882.00, up 13.00; Panamax Freight Index (daily): 1,670.00, down 22.00 [2] - Average charter price of Panamax ships: 0.00, unchanged; Average charter price of Capesize ships: 18,955.00, down 750.00 [2] 3.3 Industry News - US President Trump is considering sending another aircraft carrier strike group to the Middle East if negotiations with Iran fail. The second round of US - Iran talks is expected to be held next week [2] - Fed officials Logan and Hamark believe that the Fed's policy stance is close to neutral and may remain unchanged for a long time if inflation falls and the labor market stabilizes [2] - The People's Bank of China will continue to implement a moderately loose monetary policy, use various policy tools such as reserve requirement ratio cuts and interest rate cuts, and conduct regular treasury bond trading operations [2] 3.4 Key Data to Watch - UK Q4 GDP annual rate preliminary value at 15:00 on February 12 [2] - UK December manufacturing output monthly rate at 15:00 on February 12 [2] - US initial jobless claims for the week ending February 7 (in 10,000 people) at 21:30 on February 12 [2]

1. Report Industry Investment Rating - No information provided in the report 2. Core Viewpoints of the Report - On Tuesday, most futures prices of the Container Shipping Index (European Line) declined, with the main contract EC2604 closing down 4.57%. The latest SCFIS European Line settlement freight rate index was 1657.94, down 134.2 points from last week, a 7.5% week - on - week decrease [1] - The cancellation of full VAT export tax refunds for photovoltaic products is expected to lead to a rush of shipments, boosting long - term contract cargo volume. However, after the trading sentiment stabilizes, the price increase may be reversed [1] - China's foreign trade in December 2025 rebounded unexpectedly, with both imports and exports improving significantly, possibly related to the cancellation of VAT export tax refunds for some commodities and pre - holiday rush exports [1] - Spot freight rates: From February 4th, shipping companies such as MSC, CMA, COSCO, and HPL announced price increases for routes from Asia to Northwest Europe and the Mediterranean, but the implementation may fall short of expectations due to the unchanged supply - demand pattern [1] - Geopolitical aspect: Maersk and Hapag - Lloyd announced the resumption of the IMX/ME11 route through the Red Sea Canal from mid - February, but there are risks in actual implementation [1] - The market is moderately optimistic about the economic recovery in the Eurozone, with inflation approaching the target level, supporting the expectation that the European Central Bank will keep interest rates unchanged in the foreseeable future [1] - Currently, the freight rate market is greatly affected by seasonal demand. Investors are advised to be cautious, pay attention to the operation rhythm and risk control, and track geopolitical, shipping capacity, and cargo volume data in a timely manner [1] 3. Summary by Relevant Catalogs 3.1 Futures Market Data - EC main contract closing price: 1179.000, down 56.4; EC sub - main contract closing price: 1499.8, down 37.5 [1] - EC2604 - EC2606 spread: - 320.80, down 5.80; EC2604 - EC2608 spread: - 397.30, down 20.50 [1] - EC contract basis: 478.94, up 59.00 [1] - EC main contract open interest: 33899, up 2767 [1] 3.2 Spot Market Data - SCFIS (European Line) (weekly): 1657.94, down 134.20; SCFIS (US West Coast Line) (weekly): 1155.66, up 54.26 [1] - SCFI (composite index) (weekly): 1266.56, down 50.19; container ship capacity (10,000 TEUs): 1227.97, up 0.71 [1] - CCFI (composite index) (weekly): 1122.15, down 53.44; CCFI (European Line) (weekly): 1535.03, down 39.66 [1] - Baltic Dry Index (daily): 1923.00, down 28.00; Panama Freight Index (daily): 1652.00, down 4.00 [1] - Average charter price (Panamax ship): 0.00, up 0.00; average charter price (Capesize ship): 21150.00, up 1445.00 [1] 3.3 Industry News - The United States is planning to lower the so - called reciprocal tariffs on Bangladeshi goods and provide new exemptions for textiles. President Trump will reduce the overall reciprocal tariff on Bangladesh to 19%, after lowering it from 37% to 20% last year [1] - A "black swan" event occurred in British politics. Due to the Epstein case involving the former British Ambassador to the United States, Mandelson, the Chief of Staff of the British Prime Minister, Morgan Maxwell, and the Public Relations Director, Tim Allen, resigned respectively. The leader of the Scottish Labour Party publicly called on Prime Minister Starmer to resign, but the Prime Minister's office spokesperson said Starmer would not resign [1] - The Shanghai, Shenzhen, and Beijing Stock Exchanges announced a package of measures to optimize refinancing, focusing on high - quality listed companies and the science and technology innovation field [1]

1. Report's Industry Investment Rating - Not provided in the given content 2. Core Viewpoints of the Report - On February 9, 2026, the freight index (European line) futures prices fluctuated slightly, with the main contract EC2604 closing down 0.39% and the far - month contracts down between -1% and -1%. The latest SCFIS European line settlement freight rate index was 1657.94, down 134.2 points from last week, a 7.5% week - on - week decline. The cancellation of full - refund VAT for photovoltaic products may lead to a rush of shipments, boosting long - term contract cargo volume, but the price increase may be reversed later. China's foreign trade improved significantly in December 2025, which may be related to the cancellation of VAT export rebates and pre - holiday rush exports. It is expected that China's exports will maintain a high growth rate in 2026. Shipowners' price hikes from Asia to Northwest Europe and the Mediterranean may not meet expectations due to unchanged supply - demand patterns. The resumption of Red Sea Canal passage by Maersk and Hapag - Lloyd has implementation risks. The market is optimistic about the eurozone's economic recovery, supporting the expectation of the European Central Bank to keep interest rates unchanged. The current freight market is greatly affected by seasonal demand, and investors are advised to be cautious [1] 3. Summary by Relevant Catalogs 3.1 Futures Data - **Futures Prices**: The closing price of the EC main contract was 1238.00, down 4.8; the closing price of the EC secondary main contract was 1553, down 0.5. The EC2604 - EC2606 spread was -315.00, down 15.20; the EC2604 - EC2608 spread was -376.80, up 5.20. The EC contract basis was 554.14, down 6.80 [1] - **Futures Positions**: The main contract EC's open interest was 31132, down 295 [1] 3.2 Spot Price Data - **Freight Indexes**: The SCFIS (European line) (weekly) was 1657.94, down 134.20; the SCFIS (US West Coast line) (weekly) was 1155.66, up 54.26. The SCFI (composite index) (weekly) was 1266.56, down 50.19. The CCFI (composite index) (weekly) was 1122.15, down 53.44; the CCFI (European line) (weekly) was 1535.03, down 39.66 [1] - **Shipping - related Indexes**: The Baltic Dry Index (daily) was 1923.00, up 13.00; the Panamax Freight Index (daily) was 1652.00, up 7.00. The average charter price of Panamax ships was 0.00, unchanged; the average charter price of Capesize ships was 21150.00, up 136.00 [1] - **Container Ship Capacity**: The container ship capacity was 1227.97 (ten thousand TEUs), unchanged [1] 3.3 Industry News - **Geopolitical News**: Iran and the US ended nuclear negotiations in Oman, reaching a consensus on continued dialogue. The US and India reached a temporary trade agreement framework, with India reducing tariffs on US products and the US lowering the "counter - tariff" rate on Indian goods from 25% to 18. US President Trump cancelled the additional 25% tariff on Indian goods imported into the US due to India's import of Russian oil [1] - **Domestic Policy**: The State Council executive meeting studied measures to promote effective investment, aiming to use funds and new policy - based financial instruments in key areas and promote major projects [1] 3.4 Key Data to Watch - On February 10, 2026, key data to watch include the US January New York Fed 1 - year inflation expectation at 00:00, the French fourth - quarter ILO unemployment rate at 14:30, and multiple US economic data at 21:30 (December retail sales month - on - month rate, fourth - quarter labor cost index quarter - on - quarter rate, December import price index month - on - month rate) [1]

1. Report Industry Investment Rating - No relevant information provided 2. Core Viewpoints of the Report - The current price of shipping companies has been slightly reduced and is almost at its peak, while the export rush effect of the photovoltaic tax - refund policy supports the April contract. Investors are advised to be cautious, pay attention to the operation rhythm and risk control, and track geopolitical, shipping capacity and cargo volume data in a timely manner [7][36] 3. Summary According to the Directory 3.1. Market Review - The futures price of the container shipping index (European line) fluctuated slightly this week. The main contract EC2604 closed up 0.75%, and the far - month contracts had a decline ranging from - 2% to - 1%. The latest SCFIS European line settlement freight rate index was 1792.14, down 67.17 points from last week, a 3.6% month - on - month decrease. The trading volume and open interest of the EC2604 contract decreased slightly this week [6][10][15] 3.2. News Review and Analysis - Iran and the US held nuclear - issue negotiations, which had a neutral impact; the European Central Bank maintained the benchmark interest rate, strengthening the market's expectation of stable monetary policy, with a neutral impact; the Fed's attitude towards interest - rate cuts was divided, with a neutral impact; Trump's remarks on international relations had a neutral - to - positive impact [18] 3.3. Weekly Market Data - The basis and spread of the container shipping index (European line) futures contracts shrank this week; the export container freight rate index declined; the global container shipping capacity continued to grow, and the European line capacity rebounded slightly; the BDI and BPI declined, and the freight rate fluctuated slightly; the charter price of Panamax ships rebounded; the spread between the offshore and on - shore RMB against the US dollar converged [23][25][29][31] 3.4. Market Outlook and Strategy - The container shipping index (European line) futures price fluctuated slightly this week. The cancellation of the full - tax refund for photovoltaic products may lead to an export rush and boost long - term contract cargo volume. China's foreign trade improved significantly in December. The spot freight rate of shipping companies continued the pre - holiday price - cut trend to attract cargo. The resumption of the Red Sea Canal passage by shipping companies has implementation risks. The market is optimistic about the economic recovery in the eurozone [6][35]

Report Industry Investment Rating - Not provided in the content Core View of the Report - On Thursday, the futures prices of the container shipping index (European line) rose collectively. The improvement in macro and commodity sentiment drove up the futures prices. The latest SCFIS European line settlement freight rate index declined, and the cancellation of full tax - rebates for photovoltaic products may lead to a rush of shipments, boosting long - term contract cargo volume. China's foreign trade improved significantly in December, and it is expected to maintain a relatively high growth rate in 2026. Spot freight rates show a trend of price adjustment among shipping companies. Geopolitically, there are risks in the resumption of the Red Sea Canal route. The market is optimistic about the economic recovery in the euro - zone. The current freight market is greatly affected by seasonal demand, and investors are advised to exercise caution [1] Summary by Relevant Catalogs Futures Disk - EC main contract closing price is 47.1, up; EC sub - main contract closing price is 1268.2, up 53.9. The spread between EC2604 - EC2606 is - 13.6, down; the spread between EC2604 - EC2608 is - 300, down 5.3. EC contract basis is - 20.6, down. EC main contract open interest is 34661, up 1900 [1] Spot Price - SCFIS (European line) (weekly) is 1792.14, down 67.17; SCFIS (US West line) (weekly) is 1101.40, down 192.92. SCFI (composite index) (weekly) is down 141.11; CCFI (composite index) (weekly) is down 33.16; CCFI (European line) (weekly) is 1574.69, down 13.50. The Baltic Dry Index (daily) is 1955, up 73; the Panamax Freight Index (daily) is 1685, up 39. The average charter price of Panamax ships is 0, unchanged; the average charter price of Capesize ships is 20995, down 996 [1] Industry News - Iranian Foreign Minister Araghchi clarified the official position of Iran's talks with the US in Oman. The talks will be held in Muscat on February 6. The US previously rejected Iran's proposal to change the meeting location. The situation has caused concerns in the Middle East. US Senate Banking Committee Democrats asked to postpone the nomination process of Kevin Warsh until the criminal investigation of current Fed Chairman Powell is over, but Chairman Tim Scott said the probability of Warsh's nomination being confirmed is 100%. Chinese President Xi Jinping had a phone call with US President Trump, emphasizing the importance of the Taiwan issue and asking the US to handle arms sales to Taiwan carefully [1] Key Points of Attention - Key data to be released on February 6 include Germany's seasonally - adjusted industrial output monthly rate in December, the UK's Halifax seasonally - adjusted house price index monthly rate in January, France's trade balance in December, the US 1 - year inflation rate expectation preliminary value in February, and the US Michigan Consumer Confidence Index preliminary value in February [1]

Group 1 - The core viewpoint of the article is to explain the new regulations regarding the calculation of export income in RMB under the new Value-Added Tax Law and its implementation rules, effective from January 1, 2026 [1][2]. - The sales amount must be calculated in RMB, and if settled in foreign currency, it must be converted to RMB using the effective exchange rate [1][2]. - Taxpayers can choose to use the exchange rate on the day of the sale or the rate on the first day of the month for conversion, and this choice cannot be changed within 12 months [1][2]. Group 2 - The People's Bank of China authorizes the China Foreign Exchange Trade System to publish the daily RMB exchange rates against various currencies at 9:15 AM on working days [2]. - If a public holiday falls on the first day of the month, the last published exchange rate from the previous month will be used [2]. - The article provides examples to illustrate how to calculate the conversion of export income from USD to RMB using the selected exchange rates [3][6]. Group 3 - In the first example, Company A chooses the exchange rate from the first day of the month, with an exchange rate of 7.0288 RMB per USD, resulting in a conversion of 100,000 USD to 70.288 million RMB [5][6]. - In the second example, Company B uses the exchange rate on the day of each sale, with rates of 7.0288 RMB for sales on January 1 and 4, and 7.0230 RMB for January 5, leading to a total conversion of 70.2648 million RMB for multiple sales [8][10].

Report Industry Investment Rating - Not provided Core Viewpoints - This week, the futures prices of the Container Shipping Index (European Line) rose collectively. The main contract EC2604 closed up 7.81%, and the far - month contracts rose between 3 - 11%. The latest SCFIS European Line settlement freight rate index was 1859.31, down 94.88 points from last week, a 4.9% month - on - month decline [6][37]. - The full - refund cancellation of photovoltaic products is expected to lead to a rush of shipments, boosting long - term contract cargo volume. Geopolitical conflicts and extreme weather in Northwest Europe have also short - term boosted freight rates [6][37]. - In December, China's foreign trade rebounded beyond expectations. Exports are the core driving force of China's economy, and it is expected to maintain a high growth rate in 2026 [6][37]. - In terms of spot freight rates, Maersk's price reduction pressure has slightly improved, but other shipping companies continue the pre - festival trend of reducing prices to attract cargo [6][37]. - The decline in eurozone inflation provides conditions for policy wait - and - see, but leading indicators such as PMI are still near historical lows, indicating a fragile recovery foundation [6][37]. - Overall, the slight price increase by multiple shipping companies at the current price end boosts futures prices, and the rush - export effect of the photovoltaic tax - refund policy supports contracts after April [6][38]. Summary by Directory 1. Market Review - The main contract price of the Container Shipping Index (European Line) futures rose significantly this week. The EC2604 contract's trading volume and open interest both decreased [13][15]. - The table shows the week - on - week changes and closing prices of different futures contracts and the spot index [10]. 2. News Review and Analysis - Trump said Putin agreed to a one - week suspension of air strikes on Ukraine, and plans to announce the nomination of the next Fed chair next week. The US plans to reopen Venezuelan airspace [18]. - The EU and India reached a free - trade agreement, with significant tariff cuts on both sides [18]. - The Fed maintained the benchmark interest rate at 3.50% - 3.75%. Unemployment has shown signs of stabilizing, and inflation remains relatively high [18]. - China and the UK reached a series of positive results, including developing a comprehensive strategic partnership and tariff cuts on whisky [18]. 3. Weekly Market Data - The basis and spread of the Container Shipping Index (European Line) futures contracts both contracted this week [24]. - The export container freight rate index fluctuated slightly this week [27]. - Global container capacity continued to grow, and European Line capacity rebounded slightly. BDI and BPI declined, and freight rates fluctuated slightly [30]. - The charter price of Panamax ships rebounded this week, and the spread between the offshore and on - shore RMB against the US dollar converged [33]. 4. Market Outlook and Strategy - The same as the core viewpoints, including the price trends of futures and spot, the impact of policies, and suggestions for investors [37][38]

Report Summary 1. Report Industry Investment Rating - Not provided in the given content. 2. Core Viewpoints - On Thursday, the freight index (European line) futures prices rose collectively. The main contract EC2604 closed up 1.59%, and the far - month contracts rose between 1 - 6%. The far - month contracts had larger increases due to geopolitical factors. The latest SCFIS European line settlement freight rate index was 1,859.31, down 94.88 points from the previous week, a 4.9% week - on - week decline. The cancellation of full - refund VAT for photovoltaic products may lead to a rush of shipments, boosting long - term contract cargo volume, but the price increase may be reversed later, and the spot - end support has weakened, causing the futures price to decline. China's foreign trade improved significantly in December 2026, which may be related to the cancellation of VAT export tax rebates for some commodities and pre - holiday rush exports. It is expected that China's exports will maintain a high growth rate in 2026. The spot freight rates of some shipping companies have different trends, with Maersk's price reduction pressure slightly improving, while others continue to lower prices. The expectation of resuming shipping in the Red Sea has improved, and the market is optimistic about the economic recovery of the eurozone. The current freight market is greatly affected by seasonal demand. It is recommended that investors be cautious, pay attention to the operation rhythm and risk control, and track geopolitical, shipping capacity and cargo volume data in time [1]. 3. Summary by Relevant Catalog 3.1 Futures Market Data - EC main contract closing price: 1,249.700, up 19.5; EC second - main contract closing price: 1,576, up 86.90. - EC2604 - EC2606 spread: - 326.30, down 62.10; EC2604 - EC2608 spread: - 395.70, down 63.90. - EC contract basis: 609.61, down 20.70. - EC main contract open interest: 39,669, down 477. [1] 3.2 Spot Market Data - SCFIS (European line) (weekly): 1,859.31, down 94.88; SCFIS (US West Coast line) (weekly): 1,294.32, down 10.95. - SCFI (composite index) (weekly): 1,457.86, down 116.26; container ship capacity (10,000 TEUs): 1,227.97, up 0.17. - CCFI (composite index) (weekly): 1,208.75, down 1.10; CCFI (European line) (weekly): 1,588.19, up 5.59. - Baltic Dry Index (daily): 2,016.00, down 17.00; Panamax Freight Index (daily): 1,681.00, down 56.00. - Average charter price (Panamax ship): 0.00, up 0.00; Average charter price (Capesize ship): 24,823.00, up 5,025.00. [1] 3.3 Industry News - US President Trump threatened Iran again, and Iran's foreign minister said the armed forces were on high alert. - The Fed kept the benchmark interest rate unchanged at 3.50% - 3.75%, pausing after three consecutive 25 - basis - point cuts. Fed Chair candidate Waller supported a 25 - basis - point cut, in line with Trump's nominee Milan. The unemployment rate has shown initial signs of stabilization, inflation remains relatively high, and economic uncertainty is still high. - The German government lowered its 2026 economic growth forecast to 1% from 1.3% due to under - performing infrastructure investment and weak exports caused by high tariffs. [1] 3.4 Key Events to Watch - January 30, 07:30: Japan's December unemployment rate. - January 30, 14:30: France's preliminary Q4 GDP annual growth rate. - January 30, 16:55: Germany's seasonally - adjusted January unemployment rate. - January 30, 17:00: Germany's preliminary Q4 un - seasonally - adjusted GDP annual growth rate. - January 30, 18:00: Eurozone's December unemployment rate. - January 30, 21:00: Germany's preliminary January CPI monthly rate. - January 30, 21:30: US December PPI annual growth rate. [1]