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Australia’s S&P Global Services PMI beats estimates: Here's what it means for AUD/USD
The final reading of Australia's S&P Global Services PMI came in at 48.7 in May, compared to 50.7 in the previous reading, the latest data published by S&P Global showed on Wednesday. This figure came in better than the estimates of 47.7.
Fxstreet
Tue, Jun 2
Chinese Yuan: Mild upside with 6.7500 in focus against dollar – UOB
UOB’s Quek Ser Leang and Lee Sue Ann highlight that USD/CNH was little changed on Monday around 6.7652, but the underlying tone has softened. They expect the pair to drift lower intraday within 6.7595–6.7690 rather than stage a sharp decline.Fxstreet
Tue, Jun 2
Indonesian Rupiah: Forecasts cut on tougher backdrop – OCBC
OCBC's strategists Sim Moh Siong and Christopher Wong lower their Indonesian Rupiah (IDR) forecasts despite Bank Indonesia’s (BI) larger-than-expected 50 bp hike, arguing that renewed domestic policy uncertainty and an unfavourable external backdrop are weighing on IDR.Fxstreet
Tue, Jun 2
Philippine Peso: Year-end 2026 forecast raised to 62.7 against US Dollar – DBS
Philip Wee at DBS Group Research has raised his USD/PHP year-end 2026 forecast to 62.7 from 57.8, reflecting persistent external and domestic pressures. The closure of the Strait of Hormuz and higher Oil prices have widened trade deficits and pushed inflation well above target.Fxstreet
Tue, Jun 2
Singapore Dollar: Range trade persists against US Dollar – UOB
UOB’s Quek Ser Leang and Lee Sue Ann note that USD/SGD stayed firm on Monday, closing around 1.2788 after trading between 1.2759 and 1.2803, supported by a stronger US Dollar and a stable Singapore Dollar (SGD) Nominal Effective Exchange Rate (NEER).
Fxstreet
Tue, Jun 2
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