Jinshi Data Compilation: Daily Global Forex Market News Quick Dispatch (May 12)

1. Hungarian Central Bank Governor Varga: A cautious and patient monetary policy is needed; the fight against inflation is not over.

2. The money market reduces expectations for an ECB rate cut, expecting the deposit rate to be 1.75% by the end of the year, compared to 1.67% last Friday.

3. Ukraine's euro cash reserves have significantly increased, but the proportion of its international assets denominated in euros remains very low, reaching 10% in early May.

4. Polish Central Bank official Litwiniuk: Autumn may be a good time to promote a "robust adjustment" in interest rates. The total change in interest rates this year could reach 125 basis points.

5. US-China talks joint statement released, the US dollar index hits a daily high of 101.93, a new high in a month; non-US currencies generally decline, with USD/JPY rising nearly 2% intraday, EUR/USD falling over 1%, and GBP/USD dropping nearly 1%.

6. European Central Bank - Council member Simkus: US tariffs are dragging down eurozone economic growth, further rate cuts are needed; Executive Board member Schnabel: Medium-term inflation risks may be biased upward. The ECB will remain robust and keep rates near current levels.

7. Federal Reserve - Williams: Uncertainty will continue to be a defining feature of the monetary policy landscape; Bostic: Adjusting policy is not wise amid increasing uncertainty; Musalem: There should be no commitment to rate cuts until the impact of tariffs on inflation becomes apparent.

8. Bank of England - Monetary Policy Committee member Green: Wage and inflation indicators are moving in the right direction but are still relatively high; Chief Economist Pill: Long-term upward pressure on inflation from wages should not be overlooked; adjustments to the pace of interest rates may be needed; Deputy Governor Lambardelli: Policy is driven by the process of inflation retreat in the UK.