China Home Prices Fall Again in June Despite Slower Pace of Decline 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
Asian Stocks Slide as Chip Selloff Deepens Ahead of TSMC Earnings 
Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
Gold Prices Head for Biggest Weekly Loss Since June as Fed Rate Outlook Weighs 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
Oil Prices Set for Weekly Surge as U.S.-Iran Conflict Fuels Supply Fears 
The U.S. Treasuries slumped Tuesday ahead of the country’s manufacturing PMI for the month of May, scheduled to be released on May 23 by 13:45GMT. Also, the 5-year Note auction, due on the same day and of utmost importance, the Federal Open Market Committee’s (FOMC) meeting minutes, due at 18:00GMT will be watched for any further direction in the debt market.
The yield on the benchmark 10-year Treasuries rose 1-1/2 basis points to 3.08 percent, the super-long 30-year bond yields climbed 1 basis point to 3.21 percent and the yield on the short-term 2-year traded nearly 1-1/2 basis points higher at 2.58 percent by 11:15GMT.
Wednesday will bring the minutes from the April FOMC meeting, perhaps casting some light on prospects for next month’s meeting (although they will predate recent softer-than-expected wage and CPI reports).
Data-wise, a mixed bag of releases kicks off with the flash May manufacturing and services PMI and April new home sales on Wednesday. On Thursday, the April existing home sales report will be the main focus along with the usual weekly claims data.
Lastly, the week concludes with the advance durable goods orders report for April and final University of Michigan consumer survey outcome for May. As far as the former is concerned, lower aircraft sales will likely weigh on headline orders. Of greater interest will be core capex orders, which have broadly tracked sideways in recent months following a solid lift in Q3 2017.
Meanwhile, the S&P 500 Futures rose 0.20 percent to 2,738.50 by 11:15GMT, while at 11:00GMT, the FxWirePro's Hourly Dollar Strength Index remained neutral at 22.71 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
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