Australia National Australia Bank's Business Conditions unchanged at 3 in May

Australia National Australia Bank's Business Confidence up to -14 in May from previous -24

Japan’s Finance Minister Satsuki Katayama said on Tuesday that the stance is unchanged and authorities are prepared for decisive measures.

West Texas Intermediate (WTI) oil price edges lower after registering over 1% losses in the previous day, trading around $89.40 per barrel during the Asian hours on Tuesday.

Japan's Economy Minister, Minoru Kiuchi, said on Tuesday that long-term rates are determined by markets through diverse factors, including supply-demand and steady economic recovery.

Australia Westpac Consumer Confidence up to 80.6% in June from previous 3.5%

Japan Money Supply M2+CD (YoY) climbed from previous 2.3% to 2.5% in May

South Korea Gross Domestic Product Growth (YoY) came in at 3.8%, above forecasts (3.6%) in 1Q

South Korea Gross Domestic Product Growth (QoQ) registered at 1.8% above expectations (1.7%) in 1Q

New Zealand Manufacturing Sales increased to 3.6% in 1Q from previous -0.5%

Brown Brothers Harriman’s (BBH) Elias Haddad highlights that the Korean Won (KRW) has outperformed peers after authorities intensified stabilization efforts. Measures include new FX rules, tighter oversight of offshore derivatives and FX hedging by the National Pension Service.

UOB’s Quek Ser Leang and Lee Sue Ann observe that USD/CNH edged higher toward 6.79 but upward momentum remains limited. For the day, they expect consolidation in a 6.7800–6.7950 range.

OCBC’s Sim Moh Siong notes that higher Oil prices and a firmer United States (US) policy outlook are pressuring Asia FX, particularly the Korean Won (KRW) and Indonesian Rupiah (IDR).

MUFG’s Hardman links a sharp correction in South Korean AI‑heavy equities to potential pressure on the Korean Won.

The US Dollar Index (DXY) trades with a cautious tone near the 100.00 region as investors balance resilient United States (US) economic data against improving global risk sentiment following reports that Iran has ended its military operations against Israel.

Commerzbank’s Thu Lan Nguyen notes that despite the People’s Bank of China (PBoC) relaxing the cap on US Dollar (USD) deposit rates, the Chinese Yuan has already appreciated about 3% against the Dollar this year.

UOB’s Quek Ser Leang and Lee Sue Ann highlight that USD/SGD surged past 1.29 after a blowout US nonfarm payrolls report, with the S$NEER still trading well above its mid-point.

ING’s Frantisek Taborsky highlights that Central and Eastern European FX is being driven by global headlines and hawkish US repricing, with local data having limited impact.

DBS Group Research economist Radhika Rao says the Reserve Bank of India (RBI) kept its policy rate at 5.25% with a neutral stance but a clearly hawkish tone, focused on inflation and currency stability.

The New York Federal Reserve Bank released its May Survey of Consumer Expectations (SCE), in which households expect inflation to edge down a tick, despite upward pressures from the Middle East conflict.

National Bank of Canada’s (NBC) Warren Lovely, Stéfane Marion and Matthieu Arseneau argue that the Bank of Canada (BoC) should add an explicit unemployment rate forecast to its quarterly Monetary Policy Report.

Societe Generale strategists argue that the negative 1Q Gross Domestic Product (GDP) print mainly reflects Irish volatility rather than broad weakness, with ex‑Ireland growth at 0.3% qoq and stronger PMI and French industrial data.

Brown Brothers Harriman’s Elias Haddad (BBH) notes that May Consumer Price Index (CPI) in Norway could be pivotal, with a hot print potentially bringing forward another Norges Bank hike after its surprise May move.

MUFG’s Michael Wan analyses new Reserve Bank of India and government measures that could generate around US$40bn of inflows and partially plug India’s FY2026/27 balance of payments gap.

TD Securities economists Robert Both and Emma Lawrence expect the Bank of Canada (BoC) to keep the overnight rate at 2.25% at the June meeting and through 2026, despite softer Canadian data.

ING economists Peter Virovacz and Zoltán Homolya highlight that the Hungarian Forint (HUF) has sharply appreciated, with investors now treating Hungary as a quasi-eurozone economy.

UOB’s Alvin Liew notes that stronger-than-expected US payrolls and higher Oil prices have sharply reduced expectations for Federal Reserve rate cuts in 2026.

Societe Generale’s United Kingdom (UK) economists highlight political uncertainty around Andy Burnham’s potential Labour leadership challenge and its policy implications, but still expect limited radical change.

BNY’s Bob Savage flags that Euro area Sentix sentiment remains in downturn territory, with Germany still classified in recession despite modest improvement. German manufacturing orders fell sharply in April, driven by autos and machinery, even as sales showed some resilience.

TD Securities economists Oscar Munoz and Eli Nir expect May US CPI to show moderating but still-elevated core inflation, with core CPI seen rising 0.23% m/m and 2.8% y/y, while headline CPI is expected to climb to 4.2% y/y.