Overview Markets LLC released data on global M2 money supply as of Jan. 31, showing the latest figures and percent change Z-scores for the United States, Euro Zone, China, Japan, and a global total. The report provides an overview of liquidity trends by examining M2—a broad measure that includes cash, checking deposits, savings accounts, and money market funds—across these major economies.
The topic is significant because changes in money supply can influence economic activity, asset prices, and monetary policy decisions. Central banks use tools such as interest rates and open market operations to manage the amount of money in circulation with the aim of controlling inflation and supporting economic growth.
According to Overview Markets LLC’s report, “Global M2 Money Supply 3-Month Change Chart as of January 31, 2026” shows that the United States had a total M2 of $22,442 billion with a three-month Z-score change of -0.24. The Euro Zone reported $19,212 billion with a three-month Z-score change of 0.48. China’s M2 stood at $49,938 billion with a three-month Z-score change of 1.04. Japan recorded $8,155 billion with a three-month Z-score change of 0.40. The global total was $99,855 billion with a three-month Z-score change of 0.99.
The report explains that “money supply is the total amount of money available in an economy,” including coins, bills, bank accounts, and other instruments. It also notes that central banks can influence this through various policies to stabilize currency value or foster growth.
The analysis further discusses how exchange rate fluctuations can affect dollar-denominated measures of global liquidity: “If exchange rate fluctuations are significant…the effect can be greater than actual changes in money supply from each country.” To address this issue, Overview Markets LLC calculates Global M2 both using current exchange rates and holding them constant over time for comparison purposes.
For more details on methodology and additional notes about data sources—including releases from the Federal Reserve System Board of Governors (H.6), European Central Bank Data Portal, People’s Bank of China Financial Statistics Report, and Bank of Japan Money Stock Statistics—readers can visit Overview Markets LLC’s full report at this link.
