Private-sector hiring in the US has increased in early June. According to the NER Pulse, the weekly companion to the ADP National Employment Report, companies added an average of 30.75K jobs per week in the four weeks ending June 6.
United States ADP Employment Change 4-week average: 30.75K (May 30) vs 25.5K
Rabobank’s energy strategists Joe DeLaura and Florence Schmit cuts Brent and WTI (West Texas Intermediate) forecasts after the Versailles MoU (Memorandum of Understanding) and gradual reopening of the Strait of Hormuz.
Mexico Retail Sales (YoY) up to 4.4% in April from previous 2.9%
Mexico Retail Sales (MoM) climbed from previous 0.1% to 0.8% in April
TD Securities’ Global Strategy Team expects Australian headline Consumer Price Index (CPI) to ease to 4.2% year-on-year in May, helped by lower transport and recreational prices.
BNY’s Geoff Yu highlights rising Japanese Yen intervention risk after Finance Minister Satsuki Katayama’s call with U.S. Treasury Secretary Scott Bessent. Japan and the U.S. reaffirmed a shared stance that bold FX action remains possible, even as Katayama avoided commenting on current levels.
The Euro (EUR) extends losses on Tuesday, with the US Dollar (USD) buoyed by rising hopes of Federal Reserve (Fed) tightening later this year and a cautious market mood, amid the uncertainty surrounding the US-Iran trade deal.
Commerzbank’s Carsten Fritsch uses Alan Greenspan’s death to revisit his long-standing support for Gold as a premier currency.
The Australian Dollar (AUD) underperforms its currency peers, trading 0.8% lower at around 0.6945 against the US Dollar (USD) during the European session on Tuesday.
ING strategists Warren Patterson and Ewa Manthey say global Aluminium output is rising, including in China, Europe and Asia ex-China, but the market remains in deficit. They estimate around 3mt of capacity has been lost to Middle East disruptions and is unlikely to return quickly.
In a post published on Truth Social on Tuesday, United States (US) President Donald Trump claimed that Iran has "fully and completely" agreed to highest level nuclear inspections long into the future.
