Japan Trade Balance - BOP Basis down to ¥6.9B in May from previous ¥395.7B

Japan Bank Lending (YoY) came in at 5.7%, below expectations (5.8%) in June

Japan Current Account n.s.a. came in at ¥3.968B below forecasts (¥4121.3B) in May

Colombia Consumer Price Index (MoM) above expectations (0.35%) in June: Actual (0.39%)

Colombia Consumer Price Index (YoY) above forecasts (6.09%) in June: Actual (6.14%)

South Korea Current Account Balance: 38.61B (May) vs 28.29B

UOB’s Quek Ser Leang notes that the US Dollar against the Chinese Yuan has stayed within the previously flagged range, with only modest upward momentum despite a push toward 6.8000.

BNY’s Geoff Yu highlights that institutional investors are exiting South Korean equities, contributing to the KOSPI’s brief bear-market move, while retail buyers still support the market.

Iran's Foreign Ministry spent Tuesday insisting it is diligently fulfilling its Strait of Hormuz commitments under the memorandum signed at Versailles, hours after projectiles struck a Qatari liquefied natural gas carrier and a Saudi tanker inside the waterway it claims to be safeguarding.

United Overseas Bank’s (UOB) Quek Ser Leang notes USD/SGD closed almost unchanged near 1.2924, but short-term momentum has turned slightly lower.

The Reserve Bank of New Zealand (RBNZ) is widely expected to raise the Official Cash Rate (OCR) by 25 basis points (bps) from 2.25% to 2.50% on Wednesday, snapping a three-consecutive-meeting pause. 

BNP Paribas highlights how cheaper imports from China are exerting a deflationary influence on Euro area prices.

DBS Group Research economist Chua Han Teng expects the State Bank of Vietnam to keep its refinancing rate at 4.50% through end-2026. The report highlights a broadly stable Vietnamese Dong against the US Dollar, easing headline inflation, and strong GDP growth.

BNY’s Geoff Yu reports that the People's Bank of China (PBoC) expanded the Renminbi (RMB) Business Facility and Southbound Bond Connect quotas, boosting Hong Kong’s role as the main offshore yuan hub.

Commerzbank’s Charlie Lay highlights that USD/SGD has been stable around 1.2920, with SGD NEER estimated at roughly +0.8% above its mid-point. The pair has traded within a 1.29–1.30 range for a month and Lay expects near-term consolidation.

UOB Global Economics & Markets Research economists Enrico Tanuwidjaja and Vincentius Ming Shen assess Indonesia’s fiscal metrics, noting a primary surplus in May despite rapid expenditure growth.

United States 3-Year Note Auction down to 4.179% from previous 4.192%

Commerzbank’s Dr. Ralph Solveen notes that German industrial output rose 0.9% in May versus April, leaving April–May production slightly above the first-quarter average.

Royal Bank of Canada (RBC) economists Abbey Xu and Nathan Janzen note that Canada’s merchandise trade surplus increased to $4.2 billion in May from $3.4 billion in April, as exports grew and imports slipped.

United States 52-Week Bill Auction increased to 3.86% from previous 3.75%

The New York Fed Survey of Consumer Expectations shows that Americans are growing worried about the high cost of living, as one-year inflation expectations rose from 3.5% in May to 3.7% in June, the highest level since September 2023.

New Zealand GDT Price Index declined to -4.9% from previous -2.8%

ING economists Rafal Benecki and Adam Antoniak expect the National Bank of Poland (NBP) to keep interest rates unchanged at 3.75% on 9 July and through year-end, with hikes ruled out and cuts seen as unlikely in the near term.

Turkey Treasury Cash Balance up to 50.759B in June from previous -128.35B

BNY’s Geoff Yu cites European Central Bank (ECB) Governing Council member Fabio Panetta, who describes a fragile Euro area outlook with upside inflation risks and downside growth risks.

United States RealClearMarkets/TIPP Economic Optimism (MoM) came in at 45.5, above forecasts (45) in July

Canada Ivey Purchasing Managers Index s.a below expectations (59.1) in June: Actual (56.2)

Scotiabank strategists Shaun Osborne and Eric Theoret note the British Pound (GBP) is slightly softer against the US Dollar (USD) after encountering resistance near 1.3400, with limited fresh data and Bank of England (BoE) news.

Federal Reserve (Fed) Bank of New York President John Williams said on Tuesday that the United States (US) economy continues to show steady, trend-like growth, while the labor market remains stable.

Commerzbank’s Barbara Lambrecht says Aluminium’s recent correction has likely run its course, with prices rebounding as Chinese and LME inventories fall sharply and Gulf smelter outages persist.