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US: AI impact to labor market stays limited – TD Securities
TD Securities’ Chief US Macro Strategist Oscar Munoz argues that 2026 US labor data suggest Artificial Intelligence is only modestly affecting employment so far. He highlights that AI adoption remains low across industries and concentrated in large, knowledge-intensive firms.Fxstreet
Tue, May 12
Malaysian Ringgit: Range holds as Malaysia outperforms – Commerzbank
Commerzbank strategists note that USD/MYR has remained in a 3.90–4.05 range since the Middle East conflict began. Malaysia’s March industrial production grew 3.1% year-on-year, supported by strong manufacturing and electronics despite weaker mining.Fxstreet
Tue, May 12
Europe: Export to US slump and tariff risks – Standard Chartered
Standard Chartered’s Christopher Graham notes that European Union (EU) exports to the United States (US) are now contracting at rates comparable to COVID and GFC (Great Financial Crisis) periods, potentially reflecting both prior export frontloading and emerging structural weakness.Fxstreet
Tue, May 12
Taiwan: Mild tightening path revised – DBS
DBS' Senior Economist Ma Tieying revises her Taiwan policy rate outlook after upgrading 2026 Gross Domestic Product (GDP) and Consumer Price Index (CPI) forecasts. She now expects a 12.5bps hike in 3Q, taking the policy discount rate from 2.00% to 2.125%.Fxstreet
Tue, May 12
Fed: Neutral stance as inflation stabilizes – TD Securities
TD Securities economists judge that April Consumer Price Index (CPI) strength was driven by shelter and energy, but see core Personal Consumption Expenditures (PCE) Price Index running softer than CPI. They argue tariff pass-through is fading and supercore PCE should ease.Fxstreet
Tue, May 12
ECB's Nagel: We still have quite a bit of inflation ahead of us.
Joachim Nagel, President of the Bundesbank and member of the European Central Bank (ECB), told Handelsblatt on Tuesday that ECB rate hikes are becoming increasingly likely with the high inflation that is ahead of them.
Fxstreet
Tue, May 12
Fed’s Goolsbee: Don't think Fed independence is going away
Austan Goolsbee, President of the Federal Reserve (Fed) Bank of Chicago, said that without central bank independence, inflation will come roaring back at the Greater Rockford Chamber of Commerce in Rockford, Illinois on Tuesday.
Fxstreet
Tue, May 12
Warsh for Fed Board squeaks through Senate 51-45, Fed Chair vote on deck for Wednesday
Kevin Warsh squeaked through the Senate 51-45 on Tuesday to claim a seat on the Federal Reserve (Fed) Board of Governors, with the separate vote to confirm him as Fed Chair scheduled for Wednesday and Jerome Powell's term as chair wrapping up on Friday.Fxstreet
Tue, May 12
Copper: Prices hold near records despite Iran risks – Commerzbank
Commerzbank’s Thu Lan Nguyen notes Copper prices are trading close to January’s intraday record despite renewed Iran–US tensions and higher Oil prices. Markets currently anticipate limited economic fallout as long as a Hormuz reopening deal is reached, but prolonged disruption could hurt growth.
Fxstreet
Tue, May 12
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