United States 4-Week Bill Auction: 3.595% vs previous 3.615%

ING’s Min Joo Kang expects the Bank of Japan to deliver a 25bp rate hike in June, supported by resilient growth, negative real rates and upside inflation risks. Despite soft May inflation, underlying pressures and firm wages justify further normalisation.

Nomura analysts Josie Anderson, George Buckley, Andrzej Szczepaniak and David Seif expect the SNB to keep its policy rate at 0.00% at the 18 June meeting. They highlight low Swiss inflation, mixed activity data and ongoing Iran war uncertainty.

United States EIA Natural Gas Storage Change registered at 108B above expectations (101B) in June 5

ING’s James Smith highlights a softer UK backdrop than in 2022, with vacancies falling, unemployment rising and wage growth slowing, while firms and workers have limited pricing and bargaining power. He judges that the Bank of England (BoE) is torn between a prolonged pause and a symbolic move.

Nordea’s Jan von Gerich and Tuuli Koivu note that the European Central Bank (ECB) raised rates by 25bp and signalled readiness to tighten further as inflation stays above target.

Christine Lagarde, President of the European Central Bank (ECB), explains the ECB's decision to raise key rates by 25 basis points at the June policy meeting and responds to questions from the press.

Deutsche Bank’s Sanjay Raja expects UK headline CPI to edge up to 3.01% year-on-year in May, with core CPI at 2.72% and Services CPI at 3.65%. The bank projects CPI to average 3.1% this year before easing to 2.6% next year and 2.3% in 2028, with risks to inflation seen skewed to the upside.

TD Securities’ Prashant Newnaha and Howard Du argue recent weak Australian data and Federal Budget tax changes should keep the RBA cash rate at 4.35% next week and likely on hold for longer.

Christine Lagarde, President of the European Central Bank (ECB), explains the ECB's decision to raise key rates by 25 basis points at the June policy meeting and responds to questions from the press.

Russia Central Bank Reserves $ climbed from previous $748.7B to $749.7B

Russia Foreign Trade dipped from previous $13.966B to $11.431B in April

Christine Lagarde, President of the European Central Bank (ECB), explains the ECB's decision to raise key rates by 25 basis points at the June policy meeting and responds to questions from the press.

ING’s Warren Patterson notes that weaker Chinese crude imports and strong US exports have temporarily eased pressure on Oil, but he stresses these supports are not sustainable. China’s May 2026 crude imports fell sharply, while higher US exports are being drawn from inventories.

Nomura’s European economics team expects the SNB to keep emphasising an elevated willingness to intervene in FX markets, despite recent CHF depreciation against EUR.

Producer inflation in the United States (US) as measured by the change in the Producer Price Index (PPI), climbed to its highest level since November 2022 at 6.5% in May, from 5.7% in April, the US Bureau of Labor Statistics reported on Thursday.

United States Continuing Jobless Claims came in at 1.795M, above expectations (1.78M) in May 29

United States Producer Price Index ex Food & Energy (MoM) registered at 0.4%, below expectations (0.5%) in May

United States Producer Price Index ex Food & Energy (YoY) registered at 4.9%, below expectations (5.4%) in May

United States Producer Price Index (MoM) came in at 1.1%, above expectations (0.7%) in May

United States Producer Price Index (YoY) came in at 6.5%, above expectations (6.4%) in May

United States Initial Jobless Claims above expectations (219K) in June 5: Actual (229K)

United States Initial Jobless Claims 4-week average rose from previous 214.75K to 219K in June 5

Canada Building Permits (MoM) came in at -7.6% below forecasts (-3.5%) in April

"The United States will be hitting Iran (Whose Navy, Air Force, Radar, Anti Aircraft, and all other forms of Defense, together with most of its offensive capability, are GONE!), VERY HARD TONIGHT," US President Donald Trump posted on Truth Social on Thursday and added:

Eurozone ECB Rate On Deposit Facility in line with expectations (2.25%)

Eurozone ECB Main Refinancing Operations Rate meets expectations (2.4%)

Societe Generale strategists report that recent RBI steps to attract foreign portfolio investors are already easing Indian bond yields, with the five‑year segment outperforming.

Mexico Industrial Output (YoY) above expectations (-0.8%) in April: Actual (2.3%)

ING’s Carsten Brzeski argues that the European Central Bank is being guided by its 2022 inflation experience rather than current data, with headline Eurozone inflation still moderate and survey-based expectations easing.