General Motors (GM.N) CEO: In terms of electric vehicle business, the U.S. portfolio is expected to achieve positive variable profits in the second half of 2024.

General Motors (GM.N) CEO: It is expected that the sales of the entire industry will reach about 16 million vehicles, and the sales of hybrid vehicles will continue to grow.

General Motors (GM.N) CEO said in a letter to shareholders that more and more people believe that the U.S. economy, job market and auto sales "will continue to remain resilient."

General Motors (GM.N) total global vehicle sales in the fourth quarter of 2023 was 1.61 million vehicles, compared with market expectations of 1.55 million vehicles.

General Motors (GM.N) expects net profit in 2024 to be US$9.8 billion to US$11.2 billion, and adjusted earnings per share in 2024 of US$8.50 to US$9.50.

After the financial report was released, General Motors (GM.N) U.S. stocks rose sharply before the market opened, and are now up more than 5%.

General Motors (GM.N) Q4 revenue in 2023 was US$42.98 billion, market expectations were US$38.97 billion, and US$43.108 billion in the same period last year.

Brazilian Central Bank Survey: Brazilian economists predict inflation to be 3.82% in 2024, compared with the previous forecast of 3.86%; and 3.50% in 2025, the same as the previous forecast.

Brazilian Central Bank Survey: Brazilian economists predict GDP growth of 1.60% in 2024 and 2.0% in 2025, both unchanged from previous forecasts.

EU official: Free trade agreements are negotiated by the European Commission and only the Commission.

EU official: Trade discussions between Europe and South America’s Mercosur are ongoing.

EU official: The EU continues to pursue trade agreements with Latin American countries.

German Trade Union Confederation (IGBCE): The Executive Board has decided to make recommendations for collective bargaining in the chemical industry in 2024. Wage increases of 6-7%, more collective bargaining protections only for IGBCE members, and including modernization of the federal wage agreement.

ECB Governing Council member Vujcic: There is a need for a smooth transition to interest rate cuts.

ECB Governing Council member Vujcic: GDP data supports the view that the euro zone is in a soft landing scenario.

European Central Bank Governing Council member Vujcic: More inclined to cut interest rates in 25 basis point increments. Interest rates will not be cut at every meeting, and may be paused (in the middle).

ECB Governing Council member Vujcic: There won’t be much difference if interest rates are cut in April or June.

ECB Governing Council member Vujcic: More data is needed before making a decision to cut interest rates.

UK Government: We plan to publish immigration regulations on February 19th that will remove the right of care workers and senior care workers to bring their dependents to the UK. The regulations will come into effect on March 11th.

USD/CAD fell back below 1.34, down 0.11% on the day.