Market Summary - February 10, 2026

Author: Zain Vawda

Date: February 10, 2026

Market Overview

Asian markets experienced a significant rally, led by Japan's Nikkei 225, which surged to a new record high. This increase was buoyed by the recent election victory of Prime Minister Sanae Takaichi. Meanwhile, the French jobless rate reached a four-year high, and gold prices remained steady above the psychological threshold of $5,000 per ounce.

Key Highlights

• Nikkei 225: Rose 2.3%, marking its third consecutive day of gains.
• French Unemployment: Climbed to 7.9% in Q4 2025, exceeding expectations and reflecting a cooling labor market.
• US Dollar: Retreated to a near one-week low as the Japanese yen strengthened.
• Gold Prices: Stabilized above $5,000 per ounce after a volatile trading period.

Detailed Analysis

Asian Markets

The Nikkei 225's record high was a response to Takaichi's decisive election win, which has instilled confidence among investors. The MSCI All-Country World Index also reached a new peak, while the broader MSCI Asia-Pacific index (excluding Japan) rose by 0.6%. The Japanese yen strengthened for the second consecutive session, reflecting a positive sentiment in the currency market.

French Labor Market

France's unemployment rate increased to 7.9%, with the total number of unemployed rising by 56,000 to 2.5 million. The youth unemployment rate saw a significant rise, particularly among those aged 15-24, which surged to 21.5%. Despite the increase in joblessness, the overall employment rate for the 15-64 age group remained stable at 69.4%, indicating a robust labor market participation.

European Market Outlook

European equity markets were set for a muted opening as investors awaited critical US economic data. The previous sessions had seen strong gains, but caution prevailed ahead of upcoming labor statistics and industrial production figures. Notably, Standard Chartered's CFO departure and Kering's sales slump added to the cautious sentiment in the luxury sector.

Currency and Commodities

The US dollar faced downward pressure, with the DXY index hovering near a one-week low. The Japanese yen strengthened to 155.24 per dollar, while the euro maintained its strength at $1.19125. Gold prices edged lower but remained above $5,000 per ounce, following a volatile trading period. Silver also experienced fluctuations, reflecting broader market sentiments.

Looking Ahead

Investors are focused on key economic indicators, including the ADP employment report and the NFIB small business optimism index. The upcoming retail sales data is expected to provide further insights into consumer resilience, particularly as households prepare to receive annual tax rebate checks.

Conclusion

The market landscape is characterized by a mix of optimism in Asian equities, concerns over rising unemployment in France, and a cautious approach in European markets as investors await critical economic data from the US. The interplay between currency movements and commodity prices, particularly gold and silver, will be pivotal in shaping market sentiment in the coming days.