Safe-haven demand for USD strengthens as Middle East tensions escalate and US-Iran talks stall. EUR/USD traded at 1.1629 on Wednesday, remaining under pressure as investors await key US employment data. The US dollar gained support from heightened geopolitical risks, inclu
UK services PMI falls to 49.3 in May The UK services sector contracted in May, with the final services PMI reading at 49.3. This marks a decline from the prior month's 52.7. The decrease in business activity is attributed to subdued demand and rising input costs. T
Britain’s official reserves include gold, IMF SDRs, and its IMF tranche position, updated monthly via an IMF template. The UK released its May 2026 international reserves data, detailing holdings of gold, IMF special drawing rights (SDRs), and its reserves tranche position
Tokyo allocates $19.4 billion to subsidize fuel prices and shield households from Middle East supply disruptions. Japan will deploy $19.4 billion to mitigate rising energy costs driven by Middle East supply disruptions. The package includes a $16 billion reserve fund aimed
TD Securities forecasts a final 25 bps hike as Q1 GDP aligns with RBA projections but weak household spending persists. Australia’s Q1 GDP grew 0.3% quarter-on-quarter, matching the Reserve Bank of Australia’s forecast, but weak household and government spending offset gai
Final May Eurozone services PMI rises to 47.7, exceeding preliminary estimates and signaling slower contraction in the sector. Eurozone final services PMI for May came in at 47.7, above the preliminary reading of 46.4 and the prior month’s 47.6. The composite PMI also impr
Bitcoin and Ethereum ETFs extend outflow streaks to 12 and 16 days respectively amid sustained investor withdrawals. U.S. spot Bitcoin ETFs recorded a net outflow of $519 million on June 2, marking 12 consecutive days of withdrawals. The streak reflects persistent selling
Prime Minister Sanae Takaichi’s trip underscores Japan’s commitment to forex coordination with G7 allies, particularly the US, as JPY volatility persists. Japanese Prime Minister Sanae Takaichi will travel to Europe next week to attend the G7 Summit in France, focusing on
Germany’s final services PMI for May rose to 48.1, exceeding the preliminary reading and signaling a slower contraction in the sector. Germany’s final services PMI for May was revised up to 48.1, above the preliminary estimate of 47.8 and the prior month’s 46.9. The readin
France’s final services PMI for May came in above the preliminary reading but remained below the 50 threshold, indicating ongoing sector weakness. France’s final services PMI for May was revised upward to 44.3 from a preliminary 42.9, though it remained below April’s 46.5.