Rabobank’s Senior Market Strategist Stefan Koopman argues that higher energy and raw material costs, along with supply chain delays, are set to lift Euro area goods inflation in coming months.

Greece S&P Global Manufacturing PMI rose from previous 52.4 to 53.3 in May

There seems to be no immediate impact of the release of the BoJ summary of the meeting with investors on the Japanese Yen (JPY). As of writing, USD/JPY trades flat at around 159.70.

OCBC's strategists Sim Moh Siong and Christopher Wong keep a neutral stance on the US Dollar (USD), expecting a firm but rangebound USD profile as resilient US growth and sticky inflation support the currency.

EUR/JPY rises after a flat previous day, trading around 186.00 during the early European hours on Tuesday.

Danske Research Team reports that EUR/USD declined as higher Oil prices lifted US and European yields. They note that 2-year EUR and USD swap rates rose by up to 6 basis points.

Bitcoin (BTC) price dips below $70,000 on Tuesday, extending the 3% decline from the previous day. Market momentum turned extremely bearish, with Exchange Traded Funds (ETFs) tied to BTC offloading roughly $4 billion since May 15.

Spain Unemployment Change increased to -36.323K in May from previous -62.668K

Spain Unemployment Change rose from previous -62.668K to -36.3K in May

Commerzbank’s Tatha Ghose expects Poland’s National Bank of Poland (NBP) to keep its base rate unchanged for an extended period, with forward markets already pricing out medium-term cuts after the Iran-related energy shock.

France Budget Balance fell from previous €-42.9B to €-69.6B in April

Danske Bank’s Danske Research Team highlights that global equities hit new highs, driven almost exclusively by energy and especially tech, while most sectors fell on Iran-related tensions and higher Oil.

Commerzbank’s Michael Pfister argues that Eurozone inflation data have limited surprise potential for the foreign exchange market because many national figures are released beforehand and recent outcomes have largely matched expectations.

Switzerland Imports (MoM) declined to 19188M in April from previous 21282M

Switzerland Exports (MoM) declined to 22286M in April from previous 24458M

Switzerland Trade Balance down to 3098M in April from previous 3177M

USD/IDR pulls back after reaching a fresh record high of 18,021 on Tuesday, trading around 17,900 at the time of writing. The pair depreciates as the Indonesian Rupiah (IDR) gains support following the release of domestic inflation data.

Indonesia Trade Balance fell from previous $3.32B to $0.09B in April

Indonesia Imports up to 22.49% in April from previous 1.51%

Indonesia Exports up to 21.98% in April from previous -3.1%

Indonesia Core Inflation (YoY) up to 2.59% in May from previous 2.44%

Indonesia Inflation (MoM) rose from previous 0.13% to 0.28% in May

The White House announced on Monday that United States (US) ​President Donald Trump has ‌signed a proclamation amending tariffs on some copper, aluminum and iron imports.

Australia Current Account Balance below expectations (-23B) in 1Q: Actual (-27.123B)

Australia Building Permits (YoY) up to 10.2% in April from previous 9%

Australia Current Account Balance registered at -27.1B, below expectations (-23B) in 1Q

Australia Company Gross Operating Profits (QoQ) below expectations (0.5%) in 1Q: Actual (-1.3%)

Australia Building Permits (MoM) below forecasts (-1.5%) in April: Actual (-3.4%)

Reserve Bank of Australia (RBA) board member Ian Harper said on Tuesday that inflation persistence remains a significant issue. Harper added that market indicators of inflation expectations rise, causing concern.

Japan’s Finance Minister Satsuki Katayama said on Tuesday that the volatility in oil markets persists and the authorities are ready to take suitable measures. Katayama declines to comment on currency intervention.