Japan's fourth-quarter Gross Domestic Product (GDP) data indicates that the economy is not in a technical recession, with a slight expansion of 0.1% compared to the preliminary estimate of a 0.1% contraction.

Kazuo Ueda stated yesterday that Japan's economy is in a phase of recovery, driven by weak consumption. Additionally, Finance Minister Shunichi Suzuki mentioned that Japan has not yet reached a sustainable level to overcome deflation, leading to market expectations of a gradual reduction in the Bank of Japan's negative interest rate policy.

The market still holds a positive outlook ahead of the release of the United States Consumer Price Index (CPI) data today. Federal Reserve policymakers want to see a slowdown in inflation before considering decisions regarding future interest rate cuts.