Daily Market Insight

• Yellen maintains early June as U.S. debt ceiling deadline • UK inflation falls by less than expected, heaping pressure on BoE • Singapore's Q1 GDP contraction raises recession risk; China revival key • Dollar gains on resilient U.S. economy, flight to safety

• U.S. business activity in May hits 13-month high • Euro zone business growth solid in May but shows signs of easing • Japan manufacturers' mood turns positive as economy recovers • Dollar higher as U.S. debt ceiling concerns keep traders nervous

• Fed's Kashkari open to a pause in rate increases in June; Citi still expects a 25bps hike • South Korea consumer sentiment hits 1-year high, inflation expectations weaken • Thai jobless rate lowest in 3 years in Q1 as tourism rebounds • Dollar gains against yen as Fed policy, debt ceiling in focus

• White House, Republican team say no progress in debt ceiling talks • German producer prices post smallest increase in two years • South Korea May 1-20 exports fall 16.1% on year • Dollar slips from two-month high; Fed rate expectations in focus

• US weekly jobless claims fall; labor market defying recession fears • Japan CPI inflation rises as expected in April, more pressure on BOJ • China’s fiscal revenue growth quickens as economy recovers • US dollar hits seven-week high, bolstered by data, debt ceiling hopes

• US single-family building permits at 7-month high; housing slump persists • Euro zone inflation ticks up in April • Japan April exports rise 2.6% year/year – MOF • US dollar scales seven-week peak after solid data, debt-ceiling optimism

• US manufacturing production surges in April on motor vehicles • Euro zone Q1 GDP growth confirmed at 0.1% q/q, Q1 exports jump • Japan emerges from recession on post-COVID consumer rebound • Dollar drifts higher as US debt ceiling in spotlight

• Foreign buying of US Treasuries in March hits largest since June 2021 • Euro zone industry output falls sharply, with Ireland plunge • Thailand's growth beats forecast; investors brace for uncertainty after elections • US dollar retreats from five-week high as debt ceiling stalemate weighs

• US consumer sentiment plummets to six-month low on debt ceiling debacle • UK economy makes slow start to 2023 as inflation headwinds persist • Hong Kong Q1 GDP grew 2.7% y/y, sees tourism, consumption driving recovery this year • Dollar on pace for biggest weekly rise since February

• US weekly jobless claims hit 1-1/2-year high; inflation subsiding • Bank of England hikes key rate by 25 basis points to 4.5% • Euro zone consumers raise inflation expectations • Dollar stronger as market rethinks monetary policy outlook