Australia Part-Time Employment increased to 35.2K in May from previous -7.9K

The Iranian Islamic Revolutionary Guards Corps (IRGC) said on Thursday that “safe transit through the Strait of Hormuz is possible only via routes designated by Iran.”

Australia’s Unemployment Rate fell to 4.4% in May from 4.5% in April, according to the official data released by the Australian Bureau of Statistics (ABS) on Thursday. The figure came in line with the market consensus.

Australia Full-Time Employment rose from previous -10.7K to 5.2K in May

Australia Participation Rate came in at 66.7%, below expectations (66.8%) in May

Australia Unemployment Rate s.a. in line with forecasts (4.4%) in May

Australia Employment Change s.a. registered at 40.3K above expectations (25K) in May

Bank of Japan (BoJ) board member Naoki Tamura said on Thursday that Japan's neutral rate is about 2% and it is important to push the policy rate closer to the neutral level to avoid being forced into sharp rate hikes later.

West Texas Intermediate (WTI) oil price gains ground to trade around $69.90 per barrel during Asian hours on Thursday, snapping a three-day losing streak.

Japan Foreign Investment in Japan Stocks up to ¥479.4B in June 19 from previous ¥-785.1B

OCBC’s Sim Moh Siong and Christopher Wong note USD/SGD has drifted higher on broad US Dollar (USD) strength and softer risk sentiment, with daily momentum bullish and Relative Strength Index (RSI) overbought.

South Korea BOK Manufacturing BSI: 79 (July) vs previous 80

BNY’s Geoff Yu notes that despite a bear market in the Hong Kong China Enterprises Index and 15–16% declines in Chinese equities this year, institutional investors continue to add exposure.

United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann keep a constructive stance on USD/SGD after five consecutive daily gains, noting overbought conditions but still expecting further upside. In the near term, they see scope for a test of 1.2980 while 1.3000 caps.

US Treasury yields fell across the curve following the reopening of the Strait of Hormuz, which eased inflationary pressures and drove Oil prices lower.

Lloyd Chan at MUFG argues that Thai Baht (THB) weakness, despite lower Oil prices, reflects its low-yield profile and the Bank of Thailand’s (BoT) growth-focused stance, which limits tightening scope.

Standard Chartered’s Saabir Salad emphasizes that subdued inflation, aided by a strong Hungarian Forint (HUF) and government measures, has allowed the National Bank of Hungary (NBH) to turn more dovish.

United States 5-Year Note Auction: 4.2% vs 4.182%

European Central Bank (ECB) Executive Board member Isabel Schnabel said on Wednesday that from the present perspective, further interest rate hikes are needed to bring inflation back to the central bank’s 2% target.

MUFG’s Lloyd Chan notes that MYR has underperformed since the June FOMC as higher US yields and wider US-Malaysia rate differentials weigh on the currency.

Russia Industrial Output came in at -0.7%, below expectations (1.6%) in May

ABN AMRO economists Bill Diviney and Larissa de Barros Fritz assess the economic and market implications of UK Prime Minister Starmer’s resignation and the likely succession of Andy Burnham.

Commerzbank’s Dr. Ralph Solveen notes that Germany’s Ifo Business Climate Index rose slightly in June, mainly on a better assessment of current conditions rather than expectations.

United States New Home Sales (MoM) came in at 0.58M below forecasts (0.64M) in May

United States New Home Sales (MoM) above forecasts (0.64M) in May: Actual (580M)

Lloyd Chan at MUFG views Singapore Dollar (SGD) as relatively defensive versus other ASEAN currencies thanks to Monetary Authority of Singapore's (MAS) tight Singapore Dollar Nominal Effective Exchange Rate (S$NEER) policy, which anchors volatility and inflation expectations.

ING’s Warren Patterson and Ewa Manthey report that Aluminium led a broad metals sell-off triggered by a sharp global equity decline and a more hawkish Federal Reserve outlook.

United States Current Account came in at $-226.8B below forecasts ($-217.5B) in 1Q

Mexico 1st half-month Inflation came in at -0.11%, below expectations (0.1%) in June

Mexico 1st half-month Core Inflation came in at 0.19% below forecasts (0.2%) in June