"China Markets Signal Need for Another Holiday"

China's markets have shown modest gains following the Lunar New Year holiday, with the central bank opting not to cut rates, potentially limiting downward pressure on the yuan. Analysts anticipate further policy stimulus amid looming deflation. Meanwhile, Japan's Nikkei has surged nearly 15% this year, nearing all-time peaks, while Nvidia's upcoming earnings will test its high valuations. In Europe, upcoming data including flash PMIs and ECB surveys will be closely watched, with Federal Reserve speakers and minutes from the last meeting also on the radar. Ugly forecasts for core PCE inflation in January have led to reduced market expectations for rate cuts.