Euro zone inflation eased as expected last month but underlying price pressures fell less than forecast, likely boosting the European Central Bank's argument that rate cuts should not be rushed, even if the next move is still going to be policy easing.

 Job cut announcements in January increased to its highest level in 10 months as employers in the financial and technology sectors launched restructuring efforts, a report released Thursday showed.

U.S. manufacturing stabilized in January amid a rebound in new orders, but inflation at the factory gate picked up.

Global factories delivered a largely patchy performance at the start of 2024, surveys showed on Thursday, as new orders spurred momentum in the United States, but soft Chinese demand left Asia's economies on a shaky footing and disruption to Red Sea shipping delayed deliveries in Europe.

The Federal Reserve is now expected to begin cutting interest rates in May 2024, according to the CME Fedwatch tool, after Chair Jerome Powell shot down bets on a March rate cut on Wednesday. 

China will maintain fiscal expansion this year to spur an economic recovery, Vice Finance Minister Wang Dongwei said on Thursday, reinforcing market views that public spending will be the government's main tool to lift growth.