Daily Market Insight

• Euro zone retail sales flat in April, with weaker food, fuel sales • Australian economy barely grows in Q1 amid high rates, sticky inflation • Thai May headline inflation lowest in 21 months, seen falling further • Greenback gains, Aussie jumps on RBA rate hike

• US services sector softens, factory orders boosted by defense • U.S. economy adds 339,000 jobs in May • Japan's Q1 GDP growth seen revised up on strong capex • Dollar falls after weak services data

• US weekly jobless claims rise slightly; labor market defies recession fears • UK factory output contracts again in May • South Korea revised Q1 GDP +0.3% q/q, unchanged from earlier estimate • Dollar stumbles as signs point to Fed skipping June rate hike

• US job openings increase to 10.1 million in April • German inflation drops to lowest level in more than a year • Japan's solid capex growth points to upward revision to Q1 GDP • Dollar backs off highs after Fed officials suggest skipping June rate hike

• US consumer confidence dips to six-month low, labor market views soften • Inflation in Tokyo slows in May, but key gauge hits four-decade high • China manufacturing PMI shrinks further in May, dashing recovery bets • Dollar to ride rate-hike expectations higher as focus set to shift to labor market

• US House Rules panel to meet Tuesday on debt ceiling bill • UK shop price inflation strikes new record high • South Korea producer inflation slows to 27-month low in April • Dollar eases as deal over US debt ceiling lifts risk appetite

• Strong US consumer spending, inflation readings put Fed in tough spot • UK shoppers boost spending despite inflation’s bite • China industrial profits tumble 18% in April as demand sputters • Dollar set for third week of gains as US debt talks loom large

• U.S. pending home sales unchanged in April • UK retail sales fall in May after April rise, outlook less gloomy • Tokyo CPI inflation grows less than expected in May • Data boosts dollar, euro dips as Germany enters recession

• 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