New Zealand ANZ Commodity Price: 0.7% (May) vs -0.8%

Bitcoin (BTC) dipped further below $65,000 on Wednesday, with onchain data from Glassnode signaling a market firmly in a bear phase. The decline has pushed prices back into a key valuation range between the Realized Price and the True Market Mean.

Ireland AIB Services PMI climbed from previous 49.7 to 50.8 in May

Israel and Lebanon on Wednesday agreed to renew a ceasefire but said it would require a "complete cessation" of fire by Iran-backed Hezbollah. The agreement was announced in a joint statement after US-led talks in Washington.

Japan Foreign Investment in Japan Stocks declined to ¥-491.2B in May 29 from previous ¥1080.4B

Iran’s Foreign Minister Abbas Araghchi said that while contact with the United States (US) has not been cut off, negotiations to end the Middle East war had made "no tangible progress,” Aljazeera reported on Wednesday.

Gold price (XAU/USD) falls to around $4,450 during the early Asian session on Thursday. The precious metal attracts some sellers amid rising expectations that the US Federal Reserve (Fed) will raise interest rates this year. 

Grayscale announced the launch of its Hyperliquid Staking ETF (HYPG) on Wednesday, now trading on Nasdaq. The fund offers investors direct exposure to HYPE and incorporates staking rewards, which the company claims have historically ranged from 2.2% to 2.3% annually.

The Aussie Dollar drops some 0.70% on Wednesday as risk appetite shifted sour as hostilities in the Middle East resumed amid the lack of progress in US-Iran talks to reach a deal

The NZD/USD pair trades near the 0.5860 region on Thursday, down more than 1% in the day, as the US Dollar (USD) strengthens following hawkish remarks from Federal Reserve (Fed) officials.

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

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.

The US Dollar Index (DXY) trades with a firmer tone near the 99.50 price region as a stronger-than-expected United States (US) ISM Services Purchasing Managers Index (PMI) rose to 54.5 in May from 53.6 in April, highlighting the resilience of the US economy and supporting Treasury yields.

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.

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

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.

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.

West Texas Intermediate (WTI) crude Oil climbs to its highest level in nearly two weeks on Wednesday as renewed hostilities in the Middle East dent hopes of a near-term US-Iran deal that could reopen the Strait of Hormuz.

Sky News Arabia, citing a Lebanese source, commented on the lack of progress in the current round of negotiations between the two sides in Washington.

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.

Silver halts its advance and plunges over 2% on Wednesday amid growing speculation that a resumption of hostilities between the US and Iran—which exchanged fire overnight—increases the chances that major central banks will hike rates, a headwind for the non-yielding metal.

Gold (XAU/USD) price slumps over 1% on Wednesday, losing for the second day in the week amid fears that hostilities between the US and Iran may escalate, pushing energy prices higher and the US Dollar as well.

The Canadian Dollar (CAD) trades with a heavy tone against its American counterpart, as the US Dollar (USD) gathers strength from renewed Middle East concerns. The USD/CAD pair nears 1.3900, its highest in two months.

Scotiabank strategists Shaun Osborne and Eric Theoret note the Japanese Yen (JPY) is marginally stronger, with USD/JPY stabilizing just below the key 160 resistance area. They stress that intervention risk remains elevated as the pair approaches this psychologically important level.

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.

The US Dollar (USD) maintains its positive performance for the third consecutive day on Wednesday, this time lifting the US Dollar Index (DXY) to the vicinity of two-month highs near 99.50 and opening the door to a potential test of the psychological 100.00 hurdle in the relatively short term.

NZD/USD falls to around 0.5870 on Wednesday at the time of writing, down 0.97% on the day. The pair extends its bearish move for a third consecutive day as investors favor the US Dollar (USD) amid escalating geopolitical tensions in the Middle East.