News

Bank of Japan Governor Kazuo Ueda stated that policy interest rates will continue to be raised in accordance with economic, price, and financial developments.

Golden Ten Data reported on June 3 that market consensus expects Canada’s May employment numbers, to be released on Friday, will see a modest increase of 10 thousand, with the unemployment rate remaining unchanged at 6.9%. According to a report by Scotiabank, Canada’s labor market has been weak so far this year. Of the first four months, three saw a net decrease in employment, with job losses totaling over 100 thousand by the end of April. Meanwhile, the Canadian economy has entered a technical recession, with GDP shrinking by 0.1% on a quarterly annualized basis in the first quarter of 2026. However, the bank noted that this GDP contraction was largely due to a significant rise in imports, while household consumption spending continued to grow, indicating that domestic demand has not deteriorated significantly. Nonetheless, the bank believes that persistently weak employment data, along with uncertainty from trade policies and ongoing geopolitical risks weighing on the economic outlook, are expected to keep the Bank of Canada in a wait-and-see stance. Currently, the market broadly expects that, under Governor Tiff Macklem, the central bank will keep the overnight rate unchanged for at least the next several policy meetings, showing no rush to adjust monetary policy direction.

The US Dollar Index is expected to achieve three consecutive gains, bolstered by both the situation in the Middle East and hawkish signals from the Federal Reserve.