United Kingdom GfK Consumer Confidence above forecasts (-28) in May: Actual (-23)

New Zealand Retail Sales ex Autos (QoQ) declined to 1% in 1Q from previous 1.5%

New Zealand Retail Sales (QoQ) came in at 0.9%, above expectations (0.5%) in 1Q

Silver price consolidates around $76.50 per troy ounce amid a narrow trading session driven by Middle East developments, keeping investors uncertain about a US-Iran deal. At the time of writing, the white metal is up over 1%.

The NZD/USD recovered and is now trading near the 0.5880 region on Friday as the United States (US) Dollar (USD) loses momentum despite resilient economic data, while improving market sentiment and stronger demand for risk-sensitive assets support the New Zealand Dollar (NZD).

Ethereum (ETH) has continued to hold above $2,100 on Thursday, following reports that the US and Iran are nearing an agreement mediated by Pakistan. The deal allegedly includes a cease-fire on all fronts plus a joint monitoring mechanism in the Strait of Hormuz.

South Korea Consumer Sentiment Index increased to 106.1 in May from previous 99.2

The US Dollar Index (DXY) trades with a neutral tone near the 99.20 level after stronger than expected US Manufacturing Purchasing Managers Index (PMI) data reinforced expectations that the Federal Reserve (Fed) may maintain a cautious stance on interest rate cuts.

BNY’s Geoff Yu highlights that South Korean equities, especially AI and semiconductor names, face tightening financial conditions even as the KOSPI remains a top global performer. iFlow shows heavy institutional selling and extended outflows, which could now weigh on the Korean Won.

Gold (XAU/USD) price recovers during the mid-North American session on Thursday after Al Arabiya reported that a final draft of a US-Iran agreement has been reached by the Pakistani mediator and is scheduled to be announced within a few hours.

Bank of Richmond Federal Reserve (Fed) President Thomas Barkin said on Thursday that he doesn't think it's the right time for offering strong forward guidance in light of uncertainty surrounding inflation, US employment, and the long-term impact of artificial intelligence (AI) on the labor market.

DBS Group Research economist Radhika Rao notes that Bank Indonesia (BI) surprised markets by raising its benchmark rate 50bp to 5.25%, prioritising macroeconomic stability and Rupiah support.

For most of Thursday the Dow Jones Industrial Average looked heavy, sliding to a session low near 49,700 as firmer Oil and a stubborn rise in yields did the work a static Federal Reserve (Fed) would not. Then the headline hit.

USD/CAD trims part of its intraday gains on Thursday as traders react to fresh geopolitical headlines surrounding ongoing US-Iran negotiations. At the time of writing, the pair is trading around 1.3775, up nearly 0.20% on the day after hitting an intraday high near 1.3800 earlier in the day.

Crude spent most of Thursday doing what it has done all spring, rallying on the latest escalation headline, this time the claim that Iran would keep its enriched uranium at home. Then the wires flipped.

Commerzbank’s Dr. Vincent Stamer notes that the Euro area composite PMI fell further into contraction territory in May, suggesting a weak second quarter for the economy. Both manufacturing and services sentiment deteriorated, with services notably weaker.

Bank of Richmond Federal Reserve (Fed) President Thomas Barkin said on Thursday that "current monetary policy is in a good place to respond to ongoing shocks." Speaking about the US economic outlook and monetary policy, Barkin added that future rate decisions will depend on how businesses and consum

Iranian media reports, citing Al-Arabiya, suggest that the final draft of a US–Iran agreement has reportedly been completed with Pakistani mediation, with an official announcement potentially coming within hours.

ABN AMRO’s Georgette Boele notes that Sterling has weakened alongside the Euro versus the US Dollar, with energy prices a key driver. She argues UK political uncertainty could temporarily lift volatility in Sterling and gilts, but expects this phase to be short-lived.

Cardano (ADA) edges lower below $0.2500 at the time of writing on Thursday. The smart contract token has maintained a persistent downtrend since the rejection near $0.2900 on May 10, reflecting broader risk-off sentiment in the crypto market.

Banco de Mexico (Banxico) released its latest meeting minutes on Thursday, in which the Middle East conflict dominated the board's discussion.

An X post from Al Jazeera reporter Ali Hashem hit newswires with statements from an unnamed source that earlier reports of an Iranian decree limiting the removal of high-grade nuclear material are false.

HSBC maintains an optimistic but selective stance on Asia, favouring markets with strong growth, innovation and improving shareholder returns.

The USD/JPY pair rose toward the 159.30 price zone, closing in on the 160.00 level, which usually prompts intervention by the Bank of Japan (BoJ).

Swiss National Bank (SNB) Vice Chairman Martin Schlegel said on Thursday that the central bank maintains an “elevated willingness” to intervene in foreign exchange markets if necessary.

The Euro (EUR) trades on the back foot against the US Dollar (USD) on Thursday, with EUR/USD easing from earlier intraday highs as price action remains driven by geopolitical headlines surrounding developments in the Middle East.

The GBP/USD fell by some 0.20% on Thursday amid concerns that the US and Iran couldn’t reach a deal, while strong US economic data was a headwind for Sterling, which dipped amid weakening UK business activity. At the time of writing, the pair trades at 1.3406 after peaking near 1.3454.