USD/INR: Interim trade deal caps near-term INR gains – MUFG

MUFG’s Michael Wan views the detailed US–India interim trade deal, including tariff cuts and exemptions, as positive for India’s external position. He sees scope for USD/INR to briefly break below 90 in coming months, but expects only a shallow INR recovery.

SGD: Budget support and equity-market push – Commerzbank

Commerzbank’s FX analysts note that Singapore’s 2026 Budget emphasizes supply-side support, SME internationalisation and capital-market development, including fresh funding for the Equity Market Development Programme and Anchor Fund.

USD/CNY: Gradual reflation and policy easing guide CNY path – MUFG

MUFG’s Lin Li and Khang Sek Lee note that China’s January CPI slowdown was heavily distorted by Chinese New Year base effects, with food and services dragging headline inflation. PPI deflation narrowed on stronger global metals prices and tech-related demand.

Hong Kong: Solid growth outlook into 2026 – Standard Chartered

Standard Chartered’s Senior Economist Tommy Wu raises Hong Kong’s 2026 GDP growth forecast to 3.2% from 2.5%, citing robust Q4 momentum, stronger financial activity and improving consumer sentiment.

Malaysia: Growth seen moderating in 2026 – UOB

UOB economists Julia Goh and Loke Siew Ting note Malaysia’s 4Q25 GDP grew 6.3% year-on-year, the fastest since 4Q22, lifting full-year 2025 growth to 5.2%.