Daily Market Insight

• Euro zone May inflation confirmed at 6.1% yr/yr, core eases • Japan Finance Minister says no change in FX policy after US report • China cuts lending benchmark rate as economic recovery sputters • Dollar nudges up, sterling near 14-month highs ahead of BoE decision

• Euro zone May inflation confirmed at 6.1% yr/yr, core eases • Japan Finance Minister says no change in FX policy after US report • China cuts lending benchmark rate as economic recovery sputters • Dollar nudges up, sterling near 14-month highs ahead of BoE decision

• US consumers' near-term inflation expectations hit two-year low; sentiment rises • BOJ keeps low rates and dovish guidance, markets not so sure • Goldman Sachs cuts China GDP forecast for 2023 • Dollar rebounds from one-month low; yen under pressure after BOJ meeting

• ECB raises rates to 22-year high, in no mood to pause • U.S. business inventories rebound in April • China's economy slows in May, more stimulus expected • Euro advances, surges to 15-year peak vs yen, after ECB lifts rates

• Fed leaves rates unchanged, sees two small hikes by end of 2023 • US producer inflation subsides as energy, food prices drop • Euro zone industrial production up more than expected in April • Dollar rallies in Asia after Fed signals rate hikes; yuan, kiwi slide

• US consumer price increases slow; underlying inflation sticky • Australia business activity slows sharply in May, more risks ahead • S.Korea's jobless rate falls to record low, factory sector still shaky • Dollar skids to three-week low as US inflation data reinforces Fed pause view

• US budget deficit mushrooms in May as revenue falls, Medicare outlays jump • Australian consumer sentiment near record lows in June • China’s central bank cuts short-term borrowing cost for first time since Aug • US dollar inches higher ahead of inflation data, Fed rate decision

• ECB to hike rates in June and July to break sticky inflation • Japan's wholesale inflation eases, goods close to consumers continue to rise • Argentina inflation seen hitting 149% this year, up from previous poll • Dollar gains before Fed meeting, inflation data

• US weekly jobless claims race to 1-1/2-year high, economists urge caution • Japan’s current account in black for third straight month • Chinese CPI inflation shrinks further in May, PPI hits 7-year low • Dollar dips as jobless claims increase

• US trade deficit widens to 6-month high, expected to dent economic growth • China's exports tumble in May as global demand falters • Australian exports slide, trade surplus misses expectations in April • Safe haven dollar edges higher after weak Chinese trade data