National Bank of Canada’s (NBC) Senior Economist Jocelyn Paquet, argues that surging AI-related investment is keeping U.S. GDP growth above potential, with forecasts of 2.4% in 2026 and 2.0% in 2027.

Austan Goolsbee, President of the Federal Reserve (Fed) Bank of Chicago, said that the April United States (US) Consumer Price Index (CPI) report was worse than they expected in comments reported by Reuters on Tuesday.

ING’s Francesco Pesole highlights rising political uncertainty in the UK as calls grow for Prime Minister Keir Starmer’s resignation, with betting markets seeing a high chance he leaves office this year.

The Energy Information Administration (EIA) released the Monthly Energy Review on Tuesday. The report showed that the US hit a record energy production in 2025, recording a 3.4% increase from the previous record set in 2024.

Commerzbank's Commodity Analyst Barbara Lambrecht notes that Silver has surged to a two-month high near USD 87 per troy ounce, supported by strength in industrial metals and a record high London Metal Exchange index.

United States Redbook Index (YoY) climbed from previous 7.8% to 9.6% in May 8

TradingKey - On Tuesday (May 12) ET, the U.S. Department of Labor released the CPI. The Consumer Price Index for April rose 3.8% year-over-year, higher than the forecast of 3.7% and well above last mo

Indian Prime Minister Narendra Modi urged the nation’s citizens to avoid buying Gold for a year, in an effort to cut spending and save foreign exchange as the country grapples with the macroeconomic consequences of the Iran war. 

TD Securities’ FX strategists see the Euro (EUR) relatively strong on crosses, particularly versus the Pound (GBP) and Canadian Dollar (CAD).

United States Consumer Price Index Core s.a up to 335.423 in April from previous 334.165

United States Consumer Price Index ex Food & Energy (MoM) above expectations (0.3%) in April: Actual (0.4%)

United States Consumer Price Index ex Food & Energy (YoY) above forecasts (2.7%) in April: Actual (2.8%)

United States Consumer Price Index n.s.a (MoM) rose from previous 330.21 to 333.02 in April

United States Consumer Price Index (YoY) above forecasts (3.7%) in April: Actual (3.8%)

United States Consumer Price Index (MoM) in line with forecasts (0.6%) in April

Private-sector hiring in the US has added extra momentum in late April. According to the NER Pulse, the weekly companion to the ADP National Employment Report, companies added an average of 33K jobs per week in the four weeks ending April 25.

United States ADP Employment Change 4-week average fell from previous 39.25K to 33K in April 18

United States ADP Employment Change 4-week average dipped from previous 39.25K to 30.25K in April 18

United States ADP Employment Change 4-week average: 33K (April 18) vs previous 39.25K

ING’s Francesco Pesole highlights rising political uncertainty in the United Kingdom (UK) as calls grow for Prime Minister Keir Starmer’s resignation, with betting markets seeing a high chance he leaves office this year.

Mexico Industrial Output (YoY) came in at -1.3%, above forecasts (-1.5%) in March

South Africa Manufacturing Production Index (YoY) up to 0.9% in March from previous -2.8%

TD Securities economists highlight that higher US Treasury yields followed headlines on Middle East tensions and upcoming supply, with attention now turning to April United States (US) Consumer Price Index (CPI).

United States NFIB Business Optimism Index below expectations (96.1) in April: Actual (95.9)

OCBC’s Christopher Wong highlights a strong Silver rally, up over 7% and breaking the 83–84 resistance zone in what looks like a cleaner technical breakout. He attributes the move to momentum, short-covering, structural tightness and positioning ahead of Trump–Xi talks.

During a cabinet meeting on Tuesday, British Prime Minister (PM) Keir Starmer said that he was not stepping down.

Following are the highlights of Australia's 2026/27 budget and the Treasury's key economic forecasts released on Tuesday, per Reuters.

TradingKey - On May 12, the Summary of Opinions from the Bank of Japan's April meeting, released on Monday, sent a clear tightening signal. However, the foreign exchange market provided the opposite a

South Africa Unemployment Total climbed from previous 7.836M to 8.137M in 1Q

South Africa Unemployment Rate (%) increased to 32.7% in 1Q from previous 31.4%