Japan Jibun Bank Services PMI increased to 51.8 in June from previous 50

Japan Jibun Bank Manufacturing PMI above expectations (54.5) in June: Actual (54.9)

US Vice President (VP) JD Vance said that talks between the United States (US) and Iran have made “great progress” despite “threatening” and “whining,” CNBC reported on Tuesday.

The preliminary reading of Australia's S&P Global Manufacturing Purchasing Managers Index (PMI) rose to 51.2 in June versus 50.7 prior, the latest data published by S&P Global showed on Tuesday.

Australia S&P Global Manufacturing PMI rose from previous 50.7 to 51.2 in June

Australia S&P Global Services PMI: 49.9 (June) vs 48.7

Australia S&P Global Composite PMI rose from previous 48.7 to 49.8 in June

The 60-day framework that Trump and Iran's president signed at Versailles on June 17 was meant to wind the war down and reopen the Strait of Hormuz. A week on, the two capitals cannot agree on what the document actually says.

South Korea Consumer Sentiment Index increased to 106.6 in June from previous 106.1

United States CFTC Oil NC Net Positions dipped from previous 130.3K to 124.5K

United Kingdom CFTC GBP NC Net Positions dipped from previous £-64.2K to £-71.6K

United States CFTC S&P 500 NC Net Positions: $-194K vs $-205.6K

Australia CFTC AUD NC Net Positions declined to $-4.1K from previous $18.2K

United States CFTC Gold NC Net Positions up to $180.2K from previous $173.8K

Eurozone CFTC EUR NC Net Positions: €34.4K vs €13.9K

Japan CFTC JPY NC Net Positions fell from previous ¥-145.8K to ¥-150.1K

OCBC strategists Sim Moh Siong and Christopher Wong highlight that Malaysian Ringgit (MYR) has softened despite supportive domestic data, as Fed-led hawkish repricing keeps US Treasury yields and the US Dollar (USD) firm. Softer Oil offers only a buffer rather than a catalyst.

Argentina Unemployment Rate (QoQ) : 7.8% (1Q) vs 7.5%

United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann report that USD/CNH spiked to 6.7980 before reversing, leaving the pair broadly unchanged near 6.78.

OCBC strategists Sim Moh Siong and Christopher Wong note that USD/SGD is trading with a bid tone on a firmer US Dollar (USD) backdrop, with resistance around 1.2940 and support near 1.2840/50.

UOB economists Julia Goh and Loke Siew Ting note Malaysia’s May headline inflation rose to 2.0% year-on-year, the highest since July 2024, driven by Food, Housing, Utilities and Transport. Year-to-date inflation of 1.7% supports their full-year 2.0% forecast.

MUFG’s Michael Wan notes that Asian currencies should benefit from stronger regional growth differentials versus the US, particularly in AI-related export economies such as South Korea, Taiwan, Malaysia and Singapore.

United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann note that USD/SGD remains supported around 1.29 as the Singapore Dollar (SGD) Nominal Effective Exchange Rate (S$NEER) trades near the top of its band, implying the pair should hover close to this level.

BNY’s Geoff Yu highlights that iFlow Carry has turned negatively significant for the first time in 2026, signalling ongoing unwinding of carry trades but also a potential contrarian opportunity.

National Bank of Canada's (NBC) Matthieu Arseneau and Alexandra Ducharme note that Canadian headline inflation rose to 3.2% in May, above the Bank of Canada’s (BoC) target range, driven mainly by higher gasoline and food prices.

TD Securities, led by Oscar Munoz and Eli Nir, reports that the Federal Reserve (Fed) has shifted hawkishly and is expected to keep policy rates on hold through 2026 and 2027.

Eurozone Consumer Confidence came in at -17.7, below expectations (-17.5) in June

TD Securities’ Ryan McKay and Bart Melek highlight that crude Oil and petroleum product flows from the Middle East have rebounded sharply, but this surge is seen as temporary as trapped Gulf barrels clear.

European Central Bank (ECB) President Christine Lagarde said on Monday that policymakers are not yet seeing signs that the latest inflation shock requires a more aggressive policy response, even as geopolitical tensions add fresh uncertainty to the Eurozone outlook.

Canada Consumer Price Index - Core (MoM) climbed from previous 0.1% to 0.2% in May