EU urges US to restore Turnberry trade terms ahead of deal's first anniversary.The EU has urged the US to swiftly restore the 15% Turnberry tariff terms agreed last year, ahead of the deal's one-year anniversary in July, following talks between Sefcovic and Greer in Paris. Summary: EU trade chief Maros Sefcovic met US Trade Representative Jamieson Greer in Paris for a ninety-minute discussion on the most pressing aspects of the EU-US trade agreement, according to the European Commission The Commission called for a swift return to the Turnberry terms, meaning a 15% all-inclusive tariff rate with agreed EU carve-outs, per the Commission statement Trump has threatened to raise tariffs on EU cars and trucks to 25%, citing what he describes as EU non-compliance with the deal's terms, according to the Commission Sefcovic updated Greer on the likely timeline for the EU to remove duties on imported US industrial goods, with implementation unlikely before June, per the Commission The US Supreme Court struck down the previous global tariff framework in February, with Washington replacing it with a blanket 10% surcharge that in some cases leaves EU goods facing tariffs above the agreed 15%, according to the Commission Both sides agreed to step up engagement, with the Commission noting it would be beneficial for the deal's main features to be in place ahead of the one-year anniversary at the end of July, per the statement The European Union has pressed the United States to restore the tariff terms agreed under last year's bilateral trade deal, with Brussels warning that time is running short ahead of the agreement's one-year anniversary at the end of July.

Falling rupee triggers curbs on FX positions; more steps likely to attract dollar inflows.The Indian rupee fell to 95.28 against the US dollar on Tuesday, breaching the 95/$ mark. This decline has led to speculation that the central bank may introduce new measures, potentially targeting Non-Resident Indians, to attract dollar deposits and bolster foreign exchange reserves.

WTI slumps to near $97.50 as Trump pauses Hormuz operation.WTI slumps to near $97.50 as Trump pauses Hormuz operation

Rupee goes low & lower on oil fears, risk aversion.The Indian rupee hit fresh record lows, breaching 95 to a dollar, as firm oil prices above $110 a barrel fueled concerns about inflation and the balance of payments. The Reserve Bank of India intervened to support the currency, but limited inflows and increased risk aversion continue to pressure the rupee.

Ireland AIB Services PMI declined to 49.7 in April from previous 50.7.Ireland AIB Services PMI declined to 49.7 in April from previous 50.7

US President Donald Trump: Project Freedom paused amid progress toward Iran agreement.US President Donald Trump: Project Freedom paused amid progress toward Iran agreement

New Zealand unemployment falls to 5.3% in Q1, beating forecasts ahead of war impact.New Zealand's unemployment rate fell to 5.3% in Q1, beating the 5.4% forecast, but economists warn the labour market impact of the Middle East conflict is still six to twelve months away.

South Korea Consumer Price Index Growth (YoY) meets forecasts (2.6%) in April.South Korea Consumer Price Index Growth (YoY) meets forecasts (2.6%) in April

South Korea Consumer Price Index Growth (MoM) meets expectations (0.5%) in April.South Korea Consumer Price Index Growth (MoM) meets expectations (0.5%) in April

New Zealand's Unemployment Rate falls to 5.3% in Q1 vs. 5.4% expected.New Zealand's Unemployment Rate falls to 5.3% in Q1 vs. 5.4% expected

USD/JPY rises as Yen intervention fades, buyers target 160.00.USD/JPY rises as Yen intervention fades, buyers target 160.00

PHP: Inflation shock drives hawkish BSP path – UOB.PHP: Inflation shock drives hawkish BSP path – UOB

Japanese Yen Weakens: USD/JPY Rebounds as EUR/JPY and AUD/JPY Diverge.The Japanese yen has weakened in the days following suspected MOF/BOJ intervention, with USD/JPY rebounding sharply. However, signals across yen pairs remain mixed, with EUR/JPY lagging and AUD/JPY showing relative strength.

United States API Weekly Crude Oil Stock came in at -8.1M, below expectations (-2.8M) in May 1.United States API Weekly Crude Oil Stock came in at -8.1M, below expectations (-2.8M) in May 1

Crude Oil Price Forecast: Key Levels Define Next Move.WTI crude oil holds near key moving average support, with price action approaching critical levels that could determine whether the next move is a breakout or deeper retracement.

Vietnam: Inflation surge raises SBV hike odds – DBS.Vietnam: Inflation surge raises SBV hike odds – DBS

Natural Gas Price Forecast: Bullish Signals Challenge Moving Averages.Natural gas holds below key moving average resistance after a wedge breakout, with bullish structure forming but upside continuation dependent on reclaiming higher trend levels.

Economic calendar in Asia. New Zealand job report..New Zealand's labour market looked set to show continued slack heading into the first quarter of the year, with economists flagging that upcoming survey data would paint a picture of restrained hiring and subdued wage growth before the Middle East conflict began to weigh on the economy.

Indonesia: Growth outlook steady with fiscal constraints – UOB.Indonesia: Growth outlook steady with fiscal constraints – UOB

Philippines: Inflation surge raises BSP hike risks – ING.Philippines: Inflation surge raises BSP hike risks – ING

India: BJP gains and market focus – DBS.India: BJP gains and market focus – DBS

Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Retreats As U.S. Says Ceasefire Remains In Place.Oil markets are losing ground as U.S. did not react to Iran's attacks on UAE.

Indian rupee under pressure as Middle East tensions lift oil above $100.Indian markets have entered a period of heightened volatility, with sharp intraday swings, a weakening rupee, and rising oil prices reflecting the impact of global developments on domestic assets. Traders across equities, commodities, and currencies are recalibrating positions as conditions shift within hours rather than days.

Asian FX: Oil shock keeps currencies on back foot – OCBC.Asian FX: Oil shock keeps currencies on back foot – OCBC

USD/JPY: Upside risks grow with intervention threat – Scotiabank.USD/JPY: Upside risks grow with intervention threat – Scotiabank

Canada: Trade outlook stabilizes with energy boost – RBC.Canada: Trade outlook stabilizes with energy boost – RBC

U.S. Dollar Moves Lower As Oil Pulls Back: Analysis For EUR/USD, GBP/USD, USD/CAD, USD/JPY.The American currency is moving lower as traders react to geopolitical developments.

Pound Sterling Price News and Forecast: Rises as fragile ceasefire lifts risk appetite, trims USD.Pound Sterling Price News and Forecast: Rises as fragile ceasefire lifts risk appetite, trims USD

New Zealand GDT Price Index: 1.5% vs -2.7%.New Zealand GDT Price Index: 1.5% vs -2.7%

Trump news: Will talk about Iran with China's Xi.The war plan has shifted to exerting the pressure from the blockade to cause economic collapse, shortages of food and supplies, I crashing currency and runaway inflation