Societe Generale in its early Tuesday economic news summary pointed out:
Brent dips below US$110/barrel, the United States holds off strikes against Iran "for 2-3 days" at the request of UAE, Saudi Arabia and Qatar, "getting very close to making a deal." 10-year U.S. Treasury backs up to 4.61% after slipping from an intra-day high of 4.63% on Monday. EUR/USD stalls near 50dma (1.1650), USD/JPY pauses at 159.00. Japan's Finance Minister Katayama repeats willingness to intervene at G7 finance ministers meeting.
United Kingdom average earnings excluding bonuses slow to 3.4% 3-month/over/year-on-year in March from 3.6% in February. Private sector earnings cool to 3.0% from 3.2%. April payrolls -100,000, the biggest drop since the pandemic. Unemployment rate +0.1pp at 5.0%.
Day ahead: Federal Reserve speaker Waller. ADP weekly employment. European Central Bank's Villeroy, Lane, and Makhlouf. Bank of England's Breeden. Canada's consumer price index.
Nikkei -0.6%, EUR 10-year IRS opens flat at 3.18%, Brent crude -2% at US$109.9/barrel, Gold -0.1% at US$4,548/oz.