The short dollar squeeze is starting to take a look at some key levels
A firm break/close below that region will set sellers up for a potential retest of 1.2000 and possibly the 100-day moving average (red line) @ 1.1962 next.

State of emergency extended for 10 prefectures
This just formalises the earlier confirmation .
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Latest data released by Eurostat – 2 February 2021

Scotiabank argues that the ECB is running out of options to stem further strengthening in the euro currency
The firm says that the rise in EUR/USD since March last year has prompted „what resembles a campaign to implicitly cap the currency“ but that won’t be enough.

Kyodo News reports on the matter
This just rebuffs the reports from the end of last week and over the weekend. The announcement is likely to come tomorrow as the current state of emergency protocol is set to carry on until 7 February.

Latest data released by Eurostat – 1 February 2021

S&P 500 futures are up 1% after being down 1% in the early stages today
Risk appetite continues to show signs of a bounce back after Friday’s rout, with European indices holding around 1% gains – mirroring the mood in US futures.

Latest data released by the BOE – 1 February 2021

Latest data released by Markit – 1 February 2021
The preliminary report can be found . A positive revision to the initial estimate but the reading still marks a three-month low as virus restrictions and supply-chain disruptions impact manufacturing activity to start the new year. Markit notes that:

That puts an end to Western Australia’s 10-month coronavirus-free streak
This comes as the security guard working at the hotel – which serves as a quarantine facility for inbound travelers – tested positive for COVID-19 with fears it could be a UK or South African variant. Western Australia premier, Mark McGowan, said that: