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🔴 [Quick Facts]:

• Japanese household spending unexpectedly fell in April.

• Canada's April goods trade deficit hits a record high of 7.1 billion Canadian dollars.

• U.S. aluminum prices hit an all-time high.

• The U.S. vetoes a UN Security Council demand for a ceasefire in Gaza, and Iran strongly condemns.

• U.S. rivals see a surge in job cuts.

• Divided views among U.S. Cabinet officials leave Japan in the dark on trade talks.

• Harker: The economic outlook is too uncertain to predict policy.

• Schmid: We don't want to underestimate the importance of price gains from tariffs.

• The European Central Bank cuts interest rates by 25 basis points, but may pause in July.