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May 18, 2026
USD flows: Dollar/EM could be a near-term tell
May 18, 2026 9:02 AM UTC
Looking at dollar price action more broadly suggests it could become the dominant n/t driver
USD/regionals diverse but broadly weak, some becoming unstable
Profit-taking evident even in the strong relative shock / terms-of-trade thematic gainers
AUD/USD flows: Spec positions super-stretched into pullback, GBP trimmed
May 18, 2026 7:25 AM UTC
IMM positions data showed mkt was stretched long AUD into pullback, albeit partly offset on cross
GBP shorts trimmed after positioning into anticipated political event
Overall, mkt was light dollars into any volatility pick up
May 16, 2026
Russian Inflation Slows to 5.6% in April
May 16, 2026 1:42 PM UTC
Bottom Line: Russia’s annual inflation continued its decreasing pattern moderately in April, and stood at 5.6% y/y owing to lagged impacts of previous aggressive monetary tightening, relative resilience of RUB and softening core inflation. Despite Central Bank of Russia (CBR) predicts annual infla
May 15, 2026
Preview: Due May 29 - Canada Q1/March GDP - Domestic demand to lead a modest bounce
May 15, 2026 3:37 PM UTC
We expect Q1 Canadian GDP to increase by 1.4% annualized, in line with a 1.5% forecast seen in April’s Bank of Canada Monetary Policy Report. We expect March GDP to be unchanged, consistent with a preliminary estimate made with February data. Unchanged March GDP and no revisions to January or Febr
Preview: Due May 28 - U.S. April Durable Goods Orders - Aircraft to lead, but ex transport trend firm
May 15, 2026 2:18 PM UTC
We expect April durable goods orders to increase by 4.5% overall, in a rise led by aircraft, though ex transport orders are likely to confirm continued underlying strength with a second straight increase of 0.9%, which would be in line with an improvement in trend seen over the last four months.