OCBC's strategists Sim Moh Siong and Christopher Wong lower their Indonesian Rupiah (IDR) forecasts despite Bank Indonesia’s (BI) larger-than-expected 50 bp hike, arguing that renewed domestic policy uncertainty and an unfavourable external backdrop are weighing on IDR.

Philip Wee at DBS Group Research has raised his USD/PHP year-end 2026 forecast to 62.7 from 57.8, reflecting persistent external and domestic pressures. The closure of the Strait of Hormuz and higher Oil prices have widened trade deficits and pushed inflation well above target.

Standard Chartered’s Tommy Wu reports that the bank’s revamped Renminbi Globalisation Index shows higher global RMB usage in February–April 2026 versus late 2025.

Argentina Tax Revenue (MoM): 21513B (May) vs 17400B

DBS Group Research’s Philip Wee has revised higher his USD/IDR projections, now expecting the pair to end 2026 slightly above 18,000 versus 16,500 previously.

Commerzbank reports that USD/TWD traded steadily around 31.37, with realised one‑month volatility near 4.5%, lower than several regional peers.

UOB’s Quek Ser Leang and Lee Sue Ann note that USD/SGD stayed firm on Monday, closing around 1.2788 after trading between 1.2759 and 1.2803, supported by a stronger US Dollar and a stable Singapore Dollar (SGD) Nominal Effective Exchange Rate (NEER).

Standard Chartered’s Shuang Ding and Hunter Chan note that the People’s Bank of China has shifted its operational focus from DR007 to DR001, aligning with the dominance of overnight repos in China’s interbank market.

Deutsche Bank analysts, including Mark Wall and team, argue Germany faces multifaceted headwinds from the Middle East conflict, with growth momentum weakening into mid‑2026. Expansionary fiscal policy is seen as the key stabilizer, keeping Gross Domestic Product (GDP) growth at 0.5% in 2026.

ABN AMRO economists Bill Diviney and Rose Heaulme note that Eurozone headline inflation rose to 3.2% in May, with core inflation surprising at 2.5%. Energy remains the main driver, while food inflation eased.

Megan Greene, a member of the Bank of England's (BoE) Monetary Policy Committee (MPC), warned on Tuesday that United Kingdom (UK) households and businesses appear more sensitive to rising inflation than in the past, emphasizing that the risks of failing to act against persistent inflation outweigh t

RaboResearch says Sweden’s weak Q1 GDP was driven by lower government spending but partly offset by household consumption and inventories.

New Zealand GDT Price Index dipped from previous 0.6% to -0.6%

The National Bank of Poland (NBP) met the broad consensus among market participants and held interest rates steady and adopted a cautious tone earlier on Tuesday, saying that future data would guide policy choices but also that inflation concerns are very much alive.

ING economists Peter Virovacz and Zoltán Homolya say Hungary’s latest GDP data show the economy emerging from stagnation, but they stress that much of the recent strength reflects temporary pre-election factors.

Commerzbank’s Dr. Vincent Stamer argues persistent Euro area inflation above 3% and rising core pressures make an European Central Bank (ECB) rate increase unavoidable. He cites firms’ intentions to pass on higher energy costs and elevated consumer inflation expectations.

The number of job openings in the United States (US) came in at 7.618 million in April, up sharply from the revised 6.887 million in March, the US Bureau of Labor Statistics (BLS) reported in its Job Openings & Labor Turnover (JOLTS) report on Tuesday.

Société Générale economist Sam Cartwright notes Euro area headline inflation rose to 3.2% year-on-year in May, with core inflation at 2.5%. Services, not energy, led the increase, partly due to Easter timing effects.

United States RealClearMarkets/TIPP Economic Optimism (MoM) below expectations (44.5) in June: Actual (42.5)

United States JOLTS Job Openings registered at 7.618M above expectations (6.88M) in April

MUFG’s Derek Halpenny and Abdul-Ahad Lockhart underline that the latest ISM Manufacturing data show strong United States (US) economic resilience despite Middle East uncertainty. The headline index has reached a four-year high, with broad-based gains across sub-indices and rising new orders.

Deutsche Bank economists say in their World Outlook (WO) report, the United Kingdom (UK) entered the energy shock with stronger Q1‑2026 data, prompting only a marginal downgrade to growth. Stockpiling is expected to cushion activity as higher energy costs feed into inflation and real incomes.

Nordea’s Tuuli Koivu and Anders Svendsen argue that persistent inflation pressures and a resilient labour market point to a new European Central Bank (ECB) hiking cycle starting in June.

TD Securities raises its outlook for Silver and PGMs despite near-term correction risks similar to Gold. The team upgrades Silver and PGM forecasts over the next two quarters and further improves the long-term view, citing Gold’s projected strength and an improving global economy.

Singapore Manufacturing PMI climbed from previous 50.7 to 51 in May

DBS Group Research’s Philip Wee argues that FX Majors remain range-bound as markets digest shifting narratives around Middle East tensions and the upcoming Fed leadership transition.

United States Redbook Index (YoY) remains at 9% in May 29

Beth Hammack, President of the Federal Reserve Bank of Cleveland, struck a distinctly hawkish tone on Tuesday, warning that persistent inflation risks may eventually require a policy response.Key Quotes

Swiss National Bank (SNB) Chairman Martin Schlegel said during the European trading session on Tuesday that the central bank is now more ready to intervene against one-way appreciating moves in the Swiss Franc (CHF).

Nordea economists Tuuli Koivu and Anders Svendsen say rising Euro-area headline and core inflation, driven mainly by higher energy costs and robust services prices, strengthens the case for an ECB rate hike in June.