Colombia Gross Domestic Product (YoY) in line with expectations (2.2%) in 1Q

TD Securities’ James Rossiter and Julie Ioffe argue that Prime Minister Starmer is likely to be replaced by late September, with Labour’s leadership race centering on Burnham, Streeting, Rayner and Miliband.

Colombia Retail Sales (YoY) came in at 13.4%, above expectations (10.1%) in March

Societe Generale economists highlights that Eurozone 2026 GDP forecasts have been cut more than United States (US) projections in percentage terms, reinforcing United States (US) outperformance.

DBS economists Taimur Baig and Radhika Rao expect Japan’s 1Q Gross Domestic Product (GDP) to grow 1.8% QoQ saar, supported by firm exports and AI- and semiconductor-related investment, keeping their 0.5% full-year GDP forecast on track.

Commerzbank's Commodity Analyst Barbara Lambrecht reports that focus in London is turning to Platinum group metals as the World Platinum Investment Council prepares updated forecasts.

TD Securities’ Senior Canada Economist Robert Both expects Canadian Consumer Price Index (CPI) inflation to rise to 3.1% year-on-year in April, driven mainly by higher energy and food prices and base effects from last year’s carbon tax changes.

Industrial Production in the United States (US) expanded by 0.7% on a monthly basis in April, the Federal Reserve (Fed) reported on Friday. This print followed the 0.3% contraction reported in March and came in better than the market expectation for an increase of 0.3%.

United States Industrial Production (MoM) came in at 0.7%, above forecasts (0.3%) in April

United States Capacity Utilization came in at 76.1%, above forecasts (75.8%) in April

Commerzbank’s Thu Lan Nguyen notes that Aluminium production in China has exceeded official caps thanks to high prices and ample alumina, but this may not fully offset disrupted Gulf supply.

Russia Central Bank Reserves $ increased to $771B from previous $757.5B

Societe Generale’s Kit Juckes notes that while US yields have risen sharply since the conflict with Iran, the Dollar’s appreciation has been relatively modest because rates have also increased elsewhere.

KOSPI, the South Korean stock benchmark, soared to an all-time high of 8,046.78 on Friday, driven by a rally in the tech sector. AI-related technology and semiconductors led the advance, which later reversed amid massive profit-taking.

DBS Group Research’s Radhika Rao notes that India’s latest fuel price hike reflects higher global crude costs and aims to moderate domestic demand and imports.

Canada Foreign Portfolio Investment in Canadian Securities came in at $4.62B, below expectations ($11.4B) in March

Canada Canadian Portfolio Investment in Foreign Securities declined to $3.9B in March from previous $25.36B

United States NY Empire State Manufacturing Index registered at 19.6 above expectations (7.5) in May

TD Securities strategists revise its Federal Reserve (Fed) call, now projecting no rate cuts in 2026 and expecting the next Federal Open Market Committee (FOMC) move to still be a cut rather than a hike.

Canada Housing Starts s.a (YoY) came in at 279.3K, above expectations (240K) in April

ING’s Carsten Brzeski argues that Europe has yet to earn its “global euro moment” outlined by European Central Bank (ECB) President Christine Lagarde in 2025.

United States (US) President Donald Trump made a series of comments on China, Iran and Taiwan on Friday, according to Reuters reports.

TD Securities economists expect Canadian Manufacturing Sales to rise 3.2% month-on-month in March, slightly below market consensus. They highlight higher gasoline prices and a 20% jump at the pump as key drivers, alongside stronger transportation products.

India Trade Deficit Government rose from previous $20.9B to $28.38B in April

ING’s Frantisek Taborsky flags that a new interview with the Czech National Bank governor underlines a dovish tilt despite talk of possible hikes.

DBS Group Research’s Philip Wee notes that the first day of the Trump-Xi Summit in China favoured USD Bulls as President Trump stressed economic cooperation and trade rollbacks.

Commerzbank’s Tatha Ghose notes that the National Bank of Hungary (MNB) cut the implied rate on EUR liquidity swaps, effectively a 50 bp easing signal that widens the gap to the base rate.

BNY’s Bob Savage argues U.S. equities are being propelled by an unusually strong, AI-led earnings boom that is outpacing the broader economy and sustaining index gains despite macro headwinds.

Turkey Budget Balance fell from previous -229.9B to -338.7B in April

Italy Consumer Price Index (YoY) below forecasts (2.8%) in April: Actual (2.7%)