Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target 
Trump Lifts 25% Tariff on Indian Goods in Strategic U.S.–India Trade and Energy Deal 
Asian Currencies Stay Rangebound as Yen Firms on Intervention Talk 
Trump’s Inflation Claims Clash With Voters’ Cost-of-Living Reality 
U.S. Stock Futures Rise as Markets Brace for Jobs and Inflation Data 
Vietnam’s Trade Surplus With US Jumps as Exports Surge and China Imports Hit Record 
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal 
U.S.-India Trade Framework Signals Major Shift in Tariffs, Energy, and Supply Chains 
Gold and Silver Prices Climb in Asian Trade as Markets Eye Key U.S. Economic Data 
Yen Slides as Japan Election Boosts Fiscal Stimulus Expectations 
Japanese Pharmaceutical Stocks Slide as TrumpRx.gov Launch Sparks Market Concerns 
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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