The EUR/USD pair recovers some lost ground to near 1.1720 during the early Asian session on Thursday. The Euro (EUR) edges higher against the US Dollar (USD) on hawkish signals by European Central Bank (ECB) officials.

Japan Money Supply M2+CD (YoY) rose from previous 2% to 2.3% in April

Japan Foreign Investment in Japan Stocks: ¥1437.5B (May 8) vs ¥301.5B

Japan Foreign Investment in Japan Stocks down to ¥301.5B in May 1 from previous ¥807.9B

Japan Foreign Investment in Japan Stocks: ¥1437.5B (May 1) vs ¥807.9B

US President Donald Trump arrived in Beijing for a state visit to China, where he will meet with Chinese President Xi Jinping to discuss topics including trade and the Iran war, Bloomberg reported on Wednesday. This is the first state visit to China by a US leader in nine years.

United Kingdom RICS Housing Price Balance registered at -34%, below expectations (-25%) in April

BNP Paribas explains that Thailand shifted from broad price freezes to targeted subsidies for vulnerable households and firms.

OCBC’s Christopher Wong notes USD/SGD has risen with broader USD/AXJ but the move has been milder, reflecting Singapore Dollar's (SGD) lower beta. Wong observes fading bearish momentum and moderated RSI, suggesting two-way trade.

BNP Paribas economists note that Malaysia has kept stable the price of RON 95 fuel used mainly by households, limiting the fiscal impact of subsidies to about 0.2% of GDP if Oil stays below USD 100.

Philip Lane, Member of the European Central Bank (ECB), told an audience in London on Wednesday that the propagation of the Iran shock may be more contained than in 2022, but stronger and faster than historical averages.

OCBC’s Christopher Wong reports South Korean Won (KRW) led declines in Asia FX, pressured by higher Oil, firmer UST yields, softer risk tone and heavy foreign equity outflows.

The European Central Bank (ECB) Chief Economist Philip Lane crossed the wires, saying that the energy shock caused by the Iran war will require a restrictive policy at a conference in London.

BNP Paribas analyzes how Indonesia’s decision to cap fuel prices and increase subsidies leaves its public finances exposed if Brent Oil averages USD 92–100 in 2026.

Neel Kashkari, President of the Federal Reserve (Fed) Bank of Minneapolis, spoke at a St. Paul Area Chamber event in St. Paul, Minneapolis, on Wednesday. He said that the big question is how long the Strait of Hormuz will be closed and what effect will it have on inflation.

United States 30-Year Bond Auction increased to 5.05% from previous 4.876%

The House Financial Services Committee (HFSC), chaired by Representative French Hill (R-AR), is the lower chamber's primary oversight body for banking, capital markets, housing finance, and monetary policy.

BNY’s Geoff Yu notes that APAC (Asia-Pacific) currencies remains underowned outside the Korean Won (KRW) and Japanese Yen (JPY), as investors revisit the region for diversification but remain wary of inflation spillovers from China.

Susan Collins, President of the Federal Reserve (Fed) Bank of Boston, spoke at a fireside chat at an event hosted by the Boston Economic Club on Wednesday.

Bank of England (BoE) Monetary Policy Committee (MPC) member Catherine Mann said on Wednesday that the trade off between inflation and activity is becoming "increasingly stark," per Reuters.

The Bank of England (BoE) is expected to maintain a cautious stance as inflation remains above its target, according to a Reuters poll published on Wednesday.

ING’s Chris Turner reports that Sterling weakened independently as UK politics took centre stage, with Prime Minister Keir Starmer facing potential leadership challenges from figures like Wes Streeting, Andy Burnham and Angela Rayner.

The United States (US) Producer Price Index jumped to 6% on a yearly basis in April, following the 4.3% posted in March and largely surpassing the expected 4.9%. On a monthly basis, the PPI rose 1.4%, doubling the March reading of 0.7%, and much higher than the anticipated 0.5%.

TD Securities strategists note Silver is maintaining its upside, trading resiliently despite higher energy prices. While recent CTA (Commodity Trading Advisors) buying has slowed, they see renewed interest from Chinese traders on SHFE (Shanghai Futures Exchange) and strong Chinese premiums.

Producer inflation in the United States, as measured by the change in the Producer Price Index (PPI), rose to 6% on a yearly basis in April from 4.3% in March, the US Bureau of Labor Statistics (BLS) reported on Wednesday.

TD Securities’ Global Strategy Team says Australia’s 2026/27 Budget is slightly stimulatory, with looser fiscal policy and more upbeat Treasury forecasts than the RBA.

United States Producer Price Index (YoY) came in at 6%, above expectations (4.9%) in April

United States Producer Price Index ex Food & Energy (YoY) came in at 5.2%, above forecasts (4.3%) in April

United States Producer Price Index ex Food & Energy (MoM) registered at 1% above expectations (0.3%) in April

United States Producer Price Index (MoM) above forecasts (0.5%) in April: Actual (1.4%)