Macron Secures €9B in Vietnam Deals; China Boosts Yuan's Role in Cross-Border Trade
Key Takeaways
- Macron secured €9B in Vietnam deals; Vietjet ordered 20 Airbus A330-900s.
- China raised yuan share for cross-border trade to 40% on May 26, 2025.
- BOJ's Ueda signals further rate hikes possible if the economy improves.
- OPEC+ moves output decision to May 31, considering a 411,000 bpd increase.
- United Carton Industries’ stock had a mixed debut in Riyadh, gaining 2%.
Top Stories
Macron secures €9B Vietnam deals; Vietjet orders Airbus A330-900s
On May 26, 2025, during Emmanuel Macron's visit to Hanoi, contracts worth 9 billion euros were signed with Vietnam. Vietjet also ordered 20 Airbus A330-900 aircraft to expand Asia-Pacific flights and launch long-haul routes to Europe; the agreement was witnessed by Macron and Vietnamese President Luong Cuong.
China raises yuan share for cross-border trade to 40%
On May 26, 2025, the People’s Bank of China mandated major lenders to increase the proportion of yuan in cross-border trade transactions. The floor ratio for yuan-denominated trade rose from 25% to 40%.
BOJ's Ueda signals further rate hikes possible
On May 27, 2025, Bank of Japan Governor Kazuo Ueda stated his intention to continue raising the benchmark interest rate if the economy improves as anticipated. He made these remarks at an international conference hosted by the BOJ in Tokyo.
OPEC+ moves output decision to May 31
OPEC+ has rescheduled its July output decision video-conference to May 31, 2025. The eight-nation sub-group, led by Saudi Arabia and Russia, has held preliminary discussions about a potential output increase of approximately 411,000 barrels a day for a third consecutive month.
United Carton Industries' stock mixed debut in Riyadh
On May 27, 2025, United Carton Industries Co.’s stock had a mixed debut in Riyadh, initially surging 9% before settling at a 2% gain to 51 riyals mid-morning. Shares briefly dipped to 49 riyals, a 2% decrease from the offer price.
Economic Trends
World Bank: Kenya's growth slowing to 4.5% in 2025
On May 27, 2025, the World Bank projected Kenya's economic growth to slow for the second consecutive year, reaching 4.5% in 2025, down from 4.7% the previous year. This slowdown, attributed to tight public finances and high debt, marks the slowest pace since 2020; growth is expected to rebound to 5% in 2026-2027.
Lagarde: US policy offers chance to boost euro's role
On May 26, 2025, ECB President Christine Lagarde highlighted opportunities to elevate the euro's global standing, citing President Trump’s unpredictable policies as a key chance. On May 27, 2025, Lagarde outlined a plan to establish a global presence for the currency.
Hungary may renegotiate 2026 minimum wage hikes
On May 26, 2025, Hungary’s government cautioned that it might need to renegotiate minimum wage increases planned for 2026 due to weaker-than-expected economic growth.
Market Insights
Brazil's budget measures trigger market selloff
On May 26, 2025, Martha Viotti Beck reported that the announcement of measures intended to support Brazil’s budget led to a market selloff.
Iron ore prices fall on China demand concerns
On May 27, 2025, iron ore prices declined for a fourth consecutive day, hitting a three-week low, amid trader concerns about demand and potential limits on overcapacity in China's steel sector. Increased ore flows from Brazil and potential production cuts at Chinese mills contributed to the price decrease.
Japan bond yields fall; possible debt issuance cut
On May 26, 2025, Japan’s super-long bond yields decreased for a third day, with 40-year and 30-year maturities sliding about 10 basis points in Tokyo, amid speculation that the government might reduce debt issuance after last week's rout where 40-year yields rose to 3.675%, the highest since 2007. On May 26, 2025, bonds rallied worldwide after Japan indicated it's looking to stabilize its debt market, with Japan’s 20-year bond yield sliding 19.5 basis points. On May 27, 2025, a rally in Japan’s bond market has spilled over to US Treasuries.