DBS Group Research economist Chua Han Teng expects the State Bank of Vietnam to keep its refinancing rate at 4.50% through end-2026. The report highlights a broadly stable Vietnamese Dong against the US Dollar, easing headline inflation, and strong GDP growth.

BNY’s Geoff Yu reports that the People's Bank of China (PBoC) expanded the Renminbi (RMB) Business Facility and Southbound Bond Connect quotas, boosting Hong Kong’s role as the main offshore yuan hub.

Commerzbank’s Charlie Lay highlights that USD/SGD has been stable around 1.2920, with SGD NEER estimated at roughly +0.8% above its mid-point. The pair has traded within a 1.29–1.30 range for a month and Lay expects near-term consolidation.

UOB Global Economics & Markets Research economists Enrico Tanuwidjaja and Vincentius Ming Shen assess Indonesia’s fiscal metrics, noting a primary surplus in May despite rapid expenditure growth.

United States 3-Year Note Auction down to 4.179% from previous 4.192%

Commerzbank’s Dr. Ralph Solveen notes that German industrial output rose 0.9% in May versus April, leaving April–May production slightly above the first-quarter average.

Royal Bank of Canada (RBC) economists Abbey Xu and Nathan Janzen note that Canada’s merchandise trade surplus increased to $4.2 billion in May from $3.4 billion in April, as exports grew and imports slipped.

United States 52-Week Bill Auction increased to 3.86% from previous 3.75%

The New York Fed Survey of Consumer Expectations shows that Americans are growing worried about the high cost of living, as one-year inflation expectations rose from 3.5% in May to 3.7% in June, the highest level since September 2023.

New Zealand GDT Price Index declined to -4.9% from previous -2.8%

ING economists Rafal Benecki and Adam Antoniak expect the National Bank of Poland (NBP) to keep interest rates unchanged at 3.75% on 9 July and through year-end, with hikes ruled out and cuts seen as unlikely in the near term.

Turkey Treasury Cash Balance up to 50.759B in June from previous -128.35B

BNY’s Geoff Yu cites European Central Bank (ECB) Governing Council member Fabio Panetta, who describes a fragile Euro area outlook with upside inflation risks and downside growth risks.

United States RealClearMarkets/TIPP Economic Optimism (MoM) came in at 45.5, above forecasts (45) in July

Canada Ivey Purchasing Managers Index s.a below expectations (59.1) in June: Actual (56.2)

Scotiabank strategists Shaun Osborne and Eric Theoret note the British Pound (GBP) is slightly softer against the US Dollar (USD) after encountering resistance near 1.3400, with limited fresh data and Bank of England (BoE) news.

Federal Reserve (Fed) Bank of New York President John Williams said on Tuesday that the United States (US) economy continues to show steady, trend-like growth, while the labor market remains stable.

Commerzbank’s Barbara Lambrecht says Aluminium’s recent correction has likely run its course, with prices rebounding as Chinese and LME inventories fall sharply and Gulf smelter outages persist.

United States Goods Trade Balance declined to $-105.89B in May from previous $-105.8B

Royal Bank of Canada (RBC) economist Claire Fan notes that the Q2 2026 Bank of Canada Business Outlook Survey showed resilient sales and investment expectations despite earlier Oil price shocks.

ING economists Rafal Benecki and Adam Antoniak argue that reduced prospects of further tightening by the European Central Bank (ECB) and Federal Reserve (Fed) should ease external pressure on the Zloty.

United States Redbook Index (YoY): 11.5% (July 3) vs 10.5%

United States Goods and Services Trade Balance above expectations ($-78B) in May: Actual ($-77.6B)

Canada Exports up to $77.1B in May from previous $75.16B

Canada International Merchandise Trade registered at $4.24B above expectations ($2.7B) in May

Canada Imports climbed from previous $72.44B to $72.86B in May

Private-sector hiring in the US has further cooled in late June. According to the NER Pulse, the weekly companion to the ADP National Employment Report, companies added an average of 20K jobs per week in the four weeks ending June 20.

United States ADP Employment Change 4-week average down to 21K in June 13 from previous 30.75K

Frantisek Taborsky at ING highlights Hungarian inflation falling to 1.7%, below market and National Bank of Hungary (NBH) forecasts, cementing rate cuts in July and August. Markets price around 150bp of easing and a 4.50% terminal rate, with scope for additional cuts.

RaboResearch Global Economics & Markets discusses how the Federal Reserve’s new task force on inflation frameworks under Chair Warsh may elevate trimmed inflation in policy decisions.