RBA Minutes: Tactical Wait-and-See, Not End of Tightening Bias Yet.Minutes from the RBA's May meeting suggested policymakers are leaning toward a pause in June after acknowledging that interest rates are now likely in restrictive territory. The Board raised the cash rate by 25bps to 4.35% in an 8-1 vote, but members also judged that “financial conditions would probably be somewhat restrictive after this decision,” giving policymakers “space to see how the conflict in the Middle East develops and Australian households and businesses respond.

Australian Westpac Consumer Confidence Ticks Higher, but Energy and RBA Rate Fears Still Dominate.Australia's consumer sentiment improved modestly in April as lower fuel prices helped ease part of the energy shock that hit households earlier this year, though confidence remained deeply pessimistic overall. Westpac Consumer Sentiment Index rose 3.5% mom to 83, recovering slightly from extreme lows as the government's temporary halving of the fuel excise tax.

Japan's Kiuchi says must stay alert to economic effects from Middle East conflict.Japan's Kiuchi says must stay alert to economic effects from Middle East conflict

Japan Q1 GDP Beats Forecasts, Economy Entered Iran Conflict on Solid Footing.Japan's economy expanded faster than expected in the first quarter, suggesting domestic demand and exports were holding up well before the escalation of the Middle East conflict began weighing on the global outlook. GDP growth accelerated from 0.3% qoq to 0.5% qoq, slightly above expectations of 0.4% qoq.

Japan economy minister backs recovery but warns of Middle East conflict fallout risk.Japan's economy minister Kiuchi cited strong wage momentum and improving job conditions underpinning a moderate recovery, while pledging nimble government action to address Middle East conflict risks.

RBA Minutes: Members see case for rate hike as inflation expectations risk grows.RBA Minutes: Members see case for rate hike as inflation expectations risk grows

Japan Q1 GDP beats forecasts at 2.1% but Iran war energy shock threatens momentum.Japan's Q1 GDP grew an annualised 2.1%, beating forecasts of 1.7%, but analysts warn the Iran war energy shock is set to slow growth sharply and could force the BOJ to delay rate hikes.

ICYMI - EU plans supply chain rules forcing firms to source key parts from three suppliers.The EU is planning rules capping single-supplier sourcing of critical components at 30-40%, forcing firms to use at least three suppliers, with punitive tariffs on Chinese chemicals and machinery also planned.

Japanese Yen remains subdued despite stronger-than-expected GDP data.Japanese Yen remains subdued despite stronger-than-expected GDP data

Australia Westpac Consumer Confidence rose from previous -12.5% to 83% in May.Australia Westpac Consumer Confidence rose from previous -12.5% to 83% in May

WTI declines below $102.00 after Trump says he called off Iran attacks.WTI declines below $102.00 after Trump says he called off Iran attacks

Dollar steadies from weakness as Trump calls off planned attack on Iran.The dollar found support at the start ​of Asian trading on Tuesday after U.S. President Donald Trump said he had paused a planned attack ‌against Iran to allow negotiations and bond markets stabilised after a two-day selloff.

Japan Gross Domestic Product Deflator (YoY) above expectations (3.1%) in 1Q: Actual (3.4%).Japan Gross Domestic Product Deflator (YoY) above expectations (3.1%) in 1Q: Actual (3.4%)

Japan's GDP grows 0.5% QoQ in Q1 2026 vs 0.4% expected.Japan's GDP grows 0.5% QoQ in Q1 2026 vs 0.4% expected

RBA's Hunter: Risk of inflation expectations rising is elevated.RBA's Hunter: Risk of inflation expectations rising is elevated

New Zealand inflation pressures build as producer prices rise and retail sales dip.New Zealand producer input prices rose 1.4% in Q1 and output prices gained 0.8%, while electronic card retail sales fell 1.3% in April, Statistics New Zealand data showed on Tuesday.

Pound Sterling rides the gilt rout while Westminster wobbles.Pound Sterling rides the gilt rout while Westminster wobbles

Japanese Yen has quietly erased the intervention rally.Japanese Yen has quietly erased the intervention rally

New Zealand Producer Price Index - Output (QoQ) above expectations (0.5%) in 1Q: Actual (0.8%).New Zealand Producer Price Index - Output (QoQ) above expectations (0.5%) in 1Q: Actual (0.8%)

New Zealand Electronic Card Retail Sales (YoY): 2% (April) vs previous 2.7%.New Zealand Electronic Card Retail Sales (YoY): 2% (April) vs previous 2.7%

Australian Dollar's hawkish trade is getting crowded.Australian Dollar's hawkish trade is getting crowded

Euro rises as Trump delays Iran strike, USD weakens.Euro rises as Trump delays Iran strike, USD weakens

investingLive Americas FX news wrap 18 May: Trump pauses Iran attack, markets whip.Iran submitted a response to an earlier US proposal to end the war through mediator Pakistan, signaling it was focused entirely on ending the conflict but notably not addressing nuclear matters — leaving a significant gap between the two sides.

(CYMI - Goldman cuts US recession odds to 25% as Hormuz closure impact stays contained.Goldman Sachs cuts its 12-month US recession probability to 25% from 30%, with chief economist Jan Hatzius citing resilient activity and easing financial conditions despite the Strait of Hormuz closure.

Singapore Dollar: Resistance caps USD gains – UOB.Singapore Dollar: Resistance caps USD gains – UOB

Japan, China lead declines in foreign holdings of Treasuries in March, data shows.Foreign holdings of U.S. Treasuries slid in March, data from the Treasury Department showed on Monday, ​led by declines in holdings from Japan and China.

Oil Price Forecast: RBC Says Strait of Hormuz Risks Still Underpriced.Oil prices pushed higher again, with the WTI crude oil price trading at 106.235 US dollars, up 0.77%, as traders remained focused on the risk that disruption around the Strait of Hormuz could last longer than markets currently assume. RBC Capital Markets argues that hopes for a swift reopening of the waterway may be too.

Natural Gas Price Forecast: Breakout Extends Bullish Trend.Natural gas extends its bullish breakout from a pennant consolidation, confirming improving momentum across multiple timeframes and setting up a potential continuation toward higher resistance zones.

China: Trade support offsets weak demand – DBS.China: Trade support offsets weak demand – DBS

British Pound rises as Burnham reassures, Starmer pressure mounts.British Pound rises as Burnham reassures, Starmer pressure mounts