Standard Chartered Bank economists Anubhuti Sahay and Saurav Anand now expect the Reserve Bank of India’s repo rate to rise by 50bps to 5.75% in FY27, starting in June.

United States 4-Week Bill Auction up to 3.61% from previous 3.605%

United States Kansas Fed Manufacturing Activity declined to 9 in May from previous 10

OCBC’s Christopher Wong says USD/IDR should find near‑term support after Bank Indonesia’s larger‑than‑expected 50bp hike to 5.25%, aimed at stabilising FX sentiment.

United States EIA Natural Gas Storage Change above forecasts (96B) in May 15: Actual (101B)

BNY’s Geoff Yu argues that Hungarian asset positioning is stretched after elections, with markets now watching the central bank of Hungary Magyar Nemzeti Bank's (MNB) upcoming decision.

Eurozone Consumer Confidence above expectations (-20.8) in May: Actual (-19)

United States S&P Global Manufacturing PMI registered at 55.3 above expectations (54) in May

United States S&P Global Services PMI below forecasts (51) in May: Actual (50.9)

United States S&P Global Composite PMI: 51.7 (May)

Commerzbank’s Dr. Vincent Stamer argues that weak Euro area PMI data and rising input costs leave the ECB in a policy dilemma.

Russia Central Bank Reserves $ declined to $768.9B from previous $771B

HSBC’s Willem Sels highlights that global equities remain supported by robust earnings growth, led by US Technology and Communications, with AI-driven capex and productivity gains at the core.

According to a report from the US Department of Labour (DOL) released on Thursday, the number of US citizens submitting new applications for unemployment insurance increased to 209K for the week ending May 16.

United States Continuing Jobless Claims registered at 1.782M, below expectations (1.79M) in May 8

United States Philadelphia Fed Manufacturing Survey came in at -0.4 below forecasts (18) in May

United States Building Permits Change rose from previous -10.8% to 5.8% in April

United States Building Permits (MoM) came in at 1.442M, above forecasts (1.39M) in April

United States Housing Starts (MoM) came in at 1.465M, above expectations (1.41M) in April

United States Initial Jobless Claims 4-week average dipped from previous 203.75K to 202.5K in May 15

United States Initial Jobless Claims below forecasts (210K) in May 15: Actual (209K)

United States Housing Starts Change fell from previous 10.8% to -2.8% in April

TD Securities analysts note Australia’s April jobs report disappointed, with a 18.6k employment drop and unemployment jumping to 4.5% despite lower participation. They argue this earlier-than-expected rise in unemployment makes a June Reserve Bank of Australia (RBA) pause almost certain.

Rabobank's Senior FX Strategist Jane Foley highlights that weak French and German PMI data have undermined Eurozone growth expectations and led markets to question how much the European Central Bank (ECB) can still tighten.

Mexico Retail Sales (MoM) came in at 0.1%, below expectations (0.5%) in March

Mexico Retail Sales (YoY) came in at 2.9% below forecasts (3.1%) in March

The Australian Dollar (AUD) trades lower against its major currency peers, is down 0.28% to near 0.7130 against the US Dollar (USD) during the European trading session on Thursday. The antipodean faces selling pressure due to risk-off market sentiment and soft Australian employment data for April.

TD Securities analysts highlight that April Federal Open Market Committee (FOMC) minutes showed growing support to drop the easing bias, with many participants and several regional presidents favoring a more neutral stance.

According to Reuters, Iran's Supreme Leader has ordered that near-weapons-grade uranium must stay in Iran. The agency also reported that sources familiar believe Supreme Leader's directive reflects consensus among the Iranian establishment.

The Euro’s (EUR) frail recovery attempt against the British Pound (GBP) has been capped below 0.8660, as the pair retreats on Thursday, testing one and a half week lows below 0.8642 at the time of writing.