Daily Market Insight

• US Economy in the Second Estimation, contracts more than expected • US Pending Home Sales Fall for 6th Month • China Industrial Profits growth slowed to 3.5% YoY in Jan-April • Australia Retail Sales Hit Fresh High • Wall St Set for Weekly Gain, Japanese Shares Higher, Pound Hits 4-week High

• Fed Minutes Show Urgency for Hiking Rates • UK Car Production Falls 11% in April • Japan Leading Economic Index Revised Lower • Korea Raises Base Rate Again, Sees Higher Inflation • Wall Street wobbles as tech disappointed report, Oil edges up

• U.S. business activity slows in May, PMI data shows • Euro zone business growth slowed in May but still resilient • Record U.S. reverse repos highlight problem of investing excess cash • Dollar at one-month low as Lagarde comments lift euro

• Chicago Fed National Activity Index Rebounds in April • Japan Manufacturing Growth Eases to 3-Month Low • Singapore Inflation Rate Stays Near A Decade-High • Thailand Car Sales rose in April amid Jobless Rate Falls to 2-Year Low in Q1

• UK retail sales jump unexpectedly, but big picture bleak • Oil climbs in tight market as U.S. driving season looms • Moody's downgrades Ukraine to "Caa3" on debt uncertainty • Dollar tracked back as hopes on China growth return

• U.S. existing home sales fall for third straight month; house prices at record high • U.S. labor market in spotlight as weekly jobless claims hit 4-month high • China Banks Cut Key Rate by Record to Boost Ailing Economy • Euro Racks up Gains Against Dollar as ECB Liftoff Expectations Gather Pace

• Strong U.S. retail sales, manufacturing output boost economic outlook • UK unemployment hits 48-year low, pushing up pay • Japan's GDP shrinks as surging costs raise specter of deeper downturn • Dollar slips as risk appetite returns, GBP rallies strong from the job data

• NY Business Activity Shrinks in May • Euro Area Posts Trade Gap for 5th Month • RBA Sees More Rate Hikes: May Meeting Minutes • Dollar Up, but Falls From 20-Year High While Yuan Pauses Tumble

• UK economy shrinks in March as recession risks mount • U.S. Producer Price Index Edges Lower to 11% on Year in April • Philippines economy in solid shape in Q1, boosts rate hike views • Global growth worries send dollar to new 20-yr high

• US Inflation Rate higher than Expected • US Mortgage Applications Rise for 2nd Week • Philippines Economy Expands 1.9% QoQ in Q1 • Indonesia Retail Sales Growth at 5-Month Low