Royal Bank of Canada (RBC) economist Abbey Xu notes that Canadian inflation accelerated in April, mainly due to higher energy prices and fading base effects, while underlying pressures stayed contained.

United States (US) President Donald Trump said on Tuesday that he might restart attacks on Iran, but that he hasn't made up his mind. He also claimed that Iran is begging to make a deal while speaking to reporters at the White House on Tuesday.

BNP Paribas economists note Germany is moving away from its traditional reliance on automotive and chemicals towards defence, aerospace and electronic equipment.

US 30-Year Treasury Yield and US 10-Year Treasury Yield continue to advance on Tuesday, with the 30-year yield trading at 5.195% and the 10-year yield at 4.683% at the time of writing.

New Zealand GDT Price Index: 0.6% vs previous 1.5%

Scotiabank strategists Shaun Osborne and Eric Theoret note GBP/USD is slightly lower versus the US Dollar (USD) but outperforming most G10 peers.

Barbara Lambrecht and Volkmar Baur at Commerzbank highlight diverging trends in Chinese metals. Aluminium output hit a record daily rate in April, driven by strong margins and breaching the official annual cap, yet domestic inventories have doubled to a six‑year high as demand lags.

Philip Wee of DBS Group Research explains how Oil prices shape the Bank of England’s (BoE) policy outlook. The baseline assumes Oil around USD108 supports manageable second-round inflation effects and may require one or two rate hikes.

United States Pending Home Sales (YoY) rose from previous -1.1% to 3.2% in April

United States Pending Home Sales (MoM) came in at 1.4%, above forecasts (1%) in April

BNP Paribas economists argue Europe is under pressure from China’s industrial surge but is leveraging investment cycles in defence, electrification and artificial intelligence to adapt.

Commerzbank’s Carsten Fritsch says platinum remains in a multi-year deficit, with above-ground stocks expected to cover less than three months of demand in 2026. However, World Platinum Investment Council (WPIC) data also point to a Q1 surplus and weaker demand.

TD Securities interprets the Reserve Bank of Australia (RBA) May Minutes as reinforcing a preference to stay on the sidelines near term, with markets pricing only a small chance of a June hike.

United States Redbook Index (YoY) dipped from previous 9.6% to 8.1% in May 15

Canada New Housing Price Index (YoY) remains at -2.3% in April

Canada Consumer Price Index - Core (MoM) rose from previous 0% to 0.1% in April

Canada New Housing Price Index (MoM) below expectations (0%) in April: Actual (-0.4%)

Canada Consumer Price Index (YoY) registered at 2.8%, below expectations (3.1%) in April

Canada BoC Consumer Price Index Core (MoM) unchanged at 0.2% in April

Canada Consumer Price Index (MoM) below expectations (0.6%) in April: Actual (0.4%)

Canada BoC Consumer Price Index Core (YoY) declined to 2.1% in April from previous 2.5%

Canada Building Permits (MoM) came in at 10.3%, above expectations (4%) in March

Private-sector hiring in the United States (US) remains strong according to the ADP National Employment Report (NER) Pulse: For the four weeks ending May 2, the private sector added an average of 42,250 jobs per week, with hiring strengthening for the second week in a row.

United States ADP Employment Change 4-week average up to 42.25K in April 25 from previous 33K

United States ADP Employment Change 4-week average climbed from previous 33K to 42.25K in April 25

Commerzbank’s Carsten Fritsch, citing Metals Focus, reports that the palladium market is set for a fifth consecutive annual supply deficit in 2026. Demand is forecast to edge lower overall, with automotive demand broadly stable and no sharp e‑mobility impact yet.

According to Iran’s Iranian Students' News Agency (ISNA), Iran’s army has warned it would “open new fronts” against the United States (US) if it resumes attacks on the country, The Guardian reported.

TD Securities expects Canada’s April CPI to firm to 3.1% year-on-year, driven by higher energy prices and base effects from the removal of carbon taxes.

TD Securities’ Prashant Newnaha now expects the Reserve Bank of New Zealand (RBNZ) to start raising the Official Cash Rate (OCR) from the September 2026 meeting, having previously forecast the first move in February 2027.

EUR/CAD pares its recent gains from the previous day, trading around 1.6000 during the European hours on Tuesday. The currency cross depreciates as the commodity-linked Canadian Dollar (CAD) holds ground against the Euro (EUR) due to higher oil prices.