Key Events Around the Globe: Feb 04

China Services Activity Grows at Fastest Pace in 3 Months in Jan– RatingDog Pmi

China’s services activity expanded at a slightly faster pace in January, supported by stronger new business and a modest recovery in external demand, a private survey showed on Wednesday. The RatingDog Services PMI rose to 52.3 in January against expectations it would remain steady at 52.0. Survey respondents cited an acceleration in new orders, helped by promotional activity, improved client demand, and a renewed increase in new export business, which returned to expansion after contracting in December.

Japan Services Sector Improves In January- S&P Global

The services sector in Japan continued to expand in January, and at a faster pace, the latest survey from S&P Global revealed on Wednesday with a services PMI score of 53.7. That’s up from 51.6 in December and beat last month’s flash estimate of 53.4. It also moves further above the boom-or-bust line of 50 that separates expansion from contraction.

API Weekly Crude Stock Plummets, Signaling Bullish Trend for Crude Prices

The American Petroleum Institute (API) reported a significant decline in the inventory levels of US crude oil, gasoline, and distillates stocks in its weekly crude stock report. The actual figure came in at a decrease of 11.100 million barrels, a sharp contrast to the forecasted increase of 0.700 million barrels.

This decrease in crude inventories is substantially more than expected, indicating a surge in demand and creating a bullish environment for crude prices. An increase or decrease in crude inventories that deviates from the forecast can significantly influence crude prices, as it provides an overview of US petroleum demand

Source: HSL Prime Daily, 04 Feb 2026

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