Danske Bank’s Danske Research Team notes that US economic growth slowed at the start of 2026 but has remained more resilient than expected despite the war in Iran.

Rabobank’s Senior Market Strategist Benjamin Picton highlights moves by Australia’s iron ore majors to counter China’s growing monopsony power in the iron ore trade.

Greece Gross Domestic Product s.a (YoY): 2% (1Q) vs previous 2.4%

Italy Retail Sales n.s.a (YoY) fell from previous 3.7% to 1.6% in April

Italy Retail Sales s.a. (MoM) came in at 0% below forecasts (0.2%) in April

Eurozone Gross Domestic Product s.a. (YoY) below forecasts (0.8%) in 1Q: Actual (0.3%)

Greece Unemployment Rate (QoQ) rose from previous 8.3% to 10.6% in 1Q

Eurozone Gross Domestic Product s.a. (QoQ) below forecasts (0.1%) in 1Q: Actual (-0.2%)

UBS' Chief Economist Paul Donovan discusses how the latest US employment report may offer a weak and unreliable signal on the labor market, with expectations for flat unemployment and sub-100,000 payrolls.

Here is what you need to know on Friday, June 5:

Francesco Pesole at ING flags that weak April Canadian labour data and a still-dovish jobs contribution to Bank of Canada policy contrast with a widening USD/CAD two-year swap spread and emerging USMCA risk premium.

Austria Gross Domestic Product (QoQ) rose from previous 0% to 0.2% in 1Q

Turkey Consumer Price Index (YoY) came in at 32.61%, above forecasts (32.5%) in May

Turkey Consumer Price Index (MoM) came in at 1.71%, above forecasts (1.6%) in May

Switzerland Foreign Currency Reserves: 711B (May) vs previous 716B

Austria Wholesale Prices n.s.a (YoY) climbed from previous 6.7% to 6.9% in May

Austria Wholesale Prices n.s.a (MoM): 0.1% (May) vs previous 1.1%

OCBC’s FX Strategist Sim Moh Siong highlights a weaker Swiss Franc as EUR/CHF drifts higher from 0.91 support, reflecting widening rate disadvantages and the SNB’s active resistance to currency strength.

France Trade Balance EUR above expectations (€-6.5B) in April: Actual (€-5.6B)

France Exports, EUR rose from previous €52.459B to €54.6B in April

France Imports, EUR: €60.2B (April) vs €59.323B

France Current Account climbed from previous €-8.2B to €-0.2B in April

France Industrial Output (MoM) came in at 0.1%, above forecasts (-0.2%) in April

MUFG’s Lloyd Chan expects the upcoming US nonfarm payrolls release to show a moderate slowdown after April’s 115k gain, with consensus at 88k already reflecting soft expectations.

South Africa Net $Gold & Forex Reserve: $73.467B (May) vs previous $73.757B

Sweden Current Account (QoQ) rose from previous 78.1B to 93.9B in 1Q

South Africa Gross $Gold & Forex Reserve down to $76.58B in May from previous $77.09B

United Kingdom Halifax House Prices (MoM) below forecasts (0.1%) in May: Actual (-0.1%)

Japan Coincident Index up to 117.9 in April from previous 116.4

Japan Leading Economic Index came in at 115.9, above forecasts (114.3) in April