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. 

West Texas Intermediate (WTI) oil price edges lower after registering a 4.71% gain in the previous day, trading around $90.60 per barrel during the Asian hours on Tuesday.

Ireland AIB Manufacturing PMI up to 55.9 in May from previous 54.9

Japan Monetary Base (YoY) dipped from previous -11.3% to -12.2% in May

HSBC Asset Management reports that emerging market equities have been resilient in 2026, with a notable divergence between Chinese onshore and offshore markets.

Gold price (XAU/USD) declines to around $4,485 during the early Asian session on Tuesday. The precious metal loses ground as renewed tensions in the Middle East continue to fuel concerns over inflation and expectations of elevated interest rates.

South Korea Consumer Price Index Growth (MoM) came in at 0.5%, above expectations (0.3%) in May

South Korea Consumer Price Index Growth (YoY) above forecasts (3%) in May: Actual (3.1%)

Volkmar Baur at Commerzbank argues that market concerns over Japan’s fiscal stance are exaggerated, even after a new 3.1 trillion JPY supplementary budget funded largely by debt.

ING’s Frantisek Taborsky expects Central and Eastern European FX to start the month cautiously despite improving sentiment and busy local data.

BNP Paribas reports that Chinese GDP growth accelerated to 5.0% year-on-year in Q1 2026 from 4.5% in Q4 2025, but is expected to slow moderately over the year. The bank highlights a K-shaped trajectory, with dynamic exports but sluggish domestic demand and ongoing property sector stress.

HSBC Asset Management observes that 2026 has brought sharp swings in rate expectations for the Bank of England and European Central Bank, with markets moving from cuts to hikes as Oil-linked inflation risks rise.

Commerzbank’s Thu Lan Nguyen discusses the renewed popularity of FX carry trades as hopes grow for an end to the Middle East war. She stresses that long-run returns are not driven by interest differentials alone and warns that theory argues against persistent excess returns.

BNY’s Bob Savage highlights China as the only emerging market currently seeing net buying across equities, bonds and currency, even as domestic data remain mixed.

HSBC Asset Management notes that political uncertainty and higher Oil prices have added volatility to Turkish assets and pressured reserves. Yet the MSCI Türkiye Index has held up, supported by healthy reserves and a managed Lira float.

United States (US) President Donald Trump stated on Monday that he is unconcerned about the future of negotiations with Iran, saying, "I don't care if negotiations with Iran are over," during an interview with CNBC. Trump also claimed that talks are continuing, at a rapid pace, with the Islamic Rep

Brown Brothers Harriman’s (BBH) Elias Haddad expects the National Bank of Poland (NBP) to keep its policy rate at 3.75% and sees its easing cycle as effectively over.

Halpenny highlights that the ECB is widely expected to hike at its 11 June meeting, with markets focused on forward guidance for the Euro.

ING economist Adam Antoniak expects the National Bank of Poland (NBP) to keep its main policy rate at 3.75% at the 2 June meeting and beyond, as May CPI surprised to the downside and remains within the target band.

Commerzbank’s Volkmar Baur argues that the Japanese Yen will stay pressured in coming months as the Iran conflict keeps the Strait of Hormuz closed, sustaining high Oil prices and hurting Japan’s trade balance.

Nordea notes that ECB officials, including Schnabel, Lane, Rehn and Stournaras, are increasingly signalling a June rate hike and possible further moves to safeguard credibility.

Business activity in the United States' (US) manufacturing sector expanded at an accelerating pace in May, with the Institute for Supply Management's (ISM) Manufacturing Purchasing Managers' Index (PMI) rising to 54 from 52.7 in April. This reading came in better than the market expectation of 53.

United States Construction Spending (MoM) came in at 0.4%, above expectations (0.2%) in April

United States ISM Manufacturing Employment Index climbed from previous 46.4 to 48.6 in May