News

South Korea FX Reserves fell from previous 427.88B to 426.99B in May

Source  Fxstreet1780520402
Fed’s Logan: Inflation is taking too long to return to 2%

Lorie Logan, President of the Federal Reserve (Fed) Bank of Dallas, said on Wednesday that inflation remains too elevated and warned that higher interest rates could be needed later this year if price pressures fail to ease further.

Source  Fxstreet1780518578
Philippines: Inflation risks and BSP stance – DBS

DBS Group Research’s Radhika Rao expects Philippines inflation to climb further above the Bangko Sentral ng Pilipinas’ (BSP) target, driven by food, fuel and currency weakness. She notes some easing in sequential pressures from lower fuel prices and utilities.

Source  Fxstreet1780515660
Iran unveils four-step US plan to end war and reopen Hormuz – Fars

According to Fars, Saeed Ajorlou, a member of the Iranian negotiating team, outlined a four-stage proposal for a deal between Iran and the US

Source  Fxstreet1780514738
"Economic activity increases at a moderate pace”: Fed’s Beige Book shows resilient growth amid inflation concerns

The Federal Reserve (Fed) released the latest Beige Book on Wednesday, which the Federal Open Market Committee (FOMC) uses in discussions about setting monetary policy. The Beige Book gathers information from the Fed's 12 districts and provides an overall picture of the US economy.

Source  Fxstreet1780512516
Indonesia: Inflation pressures and policy path – DBS

DBS Group Research economist Radhika Rao notes that Indonesia’s May inflation accelerated on higher food and energy costs but remains within Bank Indonesia’s target band. She highlights weather risks, Rupiah weakness and a shrinking trade surplus as key concerns.

Source  Fxstreet1780511880
Chinese Yuan: Gradual appreciation path – OCBC

OCBC’s FX Strategists Sim Moh Siong and Christopher Wong note that the CNY has gained 3.3% against the Dollar this year, outperforming Asian peers and strengthening on the CFETS basket.

Source  Fxstreet1780509240
Indonesian Rupiah: State-led commodity shift reshapes risks – MUFG

MUFG’s Lloyd Chan highlights that Indonesia is undergoing a structural regime shift as the state moves toward direct control of key commodity exports via Danantara Sumberdaya Indonesia.

Source  Fxstreet1780505327

Russia Unemployment Rate meets forecasts (2.2%) in April

Source  Fxstreet1780502442
India: Growth set to cool in early 2026 – DBS

DBS Group Research, led by Radhika Rao with contributions from Daisy Sharma, expects India’s real GDP growth to slow in early 2026 after a firm second half of FY26.

Source  Fxstreet1780501980
Fed's Williams: Policy in right place, no need to raise or lower rates

Federal Reserve (Fed) Bank of New York President John Williams said on Wednesday that higher energy prices are driving up costs and inflation, per Reuters.

Source  Fxstreet1780496033
Eurozone: Real yields and supply pressures – ING

ING’s Padhraic Garvey and Michiel Tukker stress that Eurozone real rates are increasingly driven by structural forces such as fiscal expansion and record bond supply. They point to rising 10Y euro implied real rates since 2024, helped by German spending plans.

Source  Fxstreet1780495331

United States ISM Services New Orders Index climbed from previous 53.5 to 57.3 in May

Source  Fxstreet1780495202

United States ISM Services PMI came in at 54.5, above forecasts (53.8) in May

Source  Fxstreet1780495202

United States ISM Services Prices Paid: 71.3 (May) vs 70.7

Source  Fxstreet1780495202

United States ISM Services Employment Index dipped from previous 48 to 47.9 in May

Source  Fxstreet1780495201

United States Factory Orders (MoM) came in at 4.8%, above forecasts (4.6%) in April

Source  Fxstreet1780495201
United States S&P Global Services PMI misses estimates: US Dollar firm on risk aversion

The final reading of the United States (US) S&P Global Services PMI came in at 50.7 in May, compared to the previous 50.9 and missing estimates of 50.9. Meanwhile, the Composite PMI was confirmed at 51.5 in the same month, slightly below the anticipated 51.7.

Source  Fxstreet1780494855

United States S&P Global Composite PMI came in at 51.5, below expectations (51.7) in May

Source  Fxstreet1780494350

United States S&P Global Services PMI registered at 50.7, below expectations (50.9) in May

Source  Fxstreet1780494301
India: RBI faces currency pressure – Societe Generale

Societe Generale’s Santosh Ejantkar and Tanmay Purohit note India’s equity market has slipped to seventh globally, overtaken by South Korea and Taiwan as their semiconductor-heavy markets benefit from the AI boom.

Source  Fxstreet1780493632
Australia: Growth momentum weakens as demand cools – UOB

UOB economist Lee Sue Ann highlights that Australia’s GDP growth slowed to 0.3% q/q in 1Q26 as weak public spending, trade drag and cyclone disruptions offset strong business investment.

Source  Fxstreet1780492768
US May ADP Employment Beats Estimates, Labor Market Resilience May Dampen Rate Cut Bets

TradingKey - On June 3, Eastern Time, the U.S. released ADP employment data for May, showing that private sector employment increased by 122,000, exceeding market expectations of approximately 118,000

Source  Tradingkey1780491724
Bank of England: July risk as energy flows stay fragile – ING

ING economist James Smith argues that a June Bank of England (BoE) rate hike now appears unlikely as weaker United Kingdom (UK) data and lower Oil prices ease pressure on policymakers.

Source  Fxstreet1780490893
United States: NFP gap narrows – Standard Chartered

Standard Chartered economists Dan Pan and Steve Englander note that recent QCEW data validate softer NFP readings in late 2025, when government shutdown effects and DOGE layoffs weighed on employment.

Source  Fxstreet1780489943

Canada Labor Productivity (QoQ) came in at -0.5% below forecasts (0.7%) in 1Q

Source  Fxstreet1780489803
United States private sector employment grows sharply in May: What 122K increase means for the US Dollar

Private sector employment in the United States grew by 122K in May, the Automatic Data Processing (ADP) reported on Wednesday. This print followed the 105K increase recorded in April and came in better than the market expectation for an increase of 117K.

Source  Fxstreet1780489387
Canada: Recession concerns and USMCA talks – Rabobank

Rabobank strategist Molly Schwartz notes that Canada has entered a technical recession, with Gross Domestic Product (GDP) contracting for two consecutive quarters and missing expectations.

Source  Fxstreet1780489047

United States ADP Employment Change came in at 122K, above forecasts (117K) in May

Source  Fxstreet1780488901
Reserve Bank of Australia: Growth slowdown supports hold – UOB

UOB economist Lee Sue Ann notes that softer Australian Gross Domestic Product (GDP), easing inflation and a cooling labour market have reduced pressure on the Reserve Bank of Australia (RBA) to tighten further.

Source  Fxstreet1780488326
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