European Mediterranean Seismological Center: A 5.0-magnitude earthquake struck Seram Island, Indonesia.

Morgan Stanley: The oversupply in the oil market is expected to be 500,000 barrels per day in 2024.

Bank of Korea Governor Changyong Rhee: Silicon Valley Bank could become a bigger problem if it is slow to respond.

Bank of Korea Governor Rhee Changyong: Further tightening could lead to capital outflows and foreign exchange pressure.

Bank of Korea Governor Rhee Changyong: The impact of further tightening will be milder than last year.

Bank of Korea Governor Rhee Changyong: Advanced economies should focus on structural reforms.

Bank of Korea Governor Rhee Changyong: High interest rates may last longer than the market expects.

The United Business Group of Thailand estimates that foreign tourists to Thailand may reach 30 million this year.

The United Business Group of Thailand maintained its GDP growth forecast for this year at 3.0-3.5%.

Belarus Ministry of Defense: Belarusian and Russian warplanes will conduct joint patrols in Belarusian airspace during the Belarusian military readiness inspection.

New Zealand extends defense commitment and support to Ukraine.

Kohler, an economist at the Reserve Bank of Australia: There should be some confidence that commodity price inflation will gradually ease this year.

RBA Economist Kohler: Energy costs will rise less than we predicted six months ago.

RBA Economist Kohler: Population growth is expected to boost employment growth.

RBA Economist Kohler: The drag on consumption from housing will be smaller than expected.

Reserve Bank of Australia Economist Kohler: Rapid population recovery may have unintended general effects.

RBA Economist Kohler: The strong performance of population growth has produced a significant change in our forecast.

[Secretary of the Russian Federation Security Council: NATO has deployed more troops in Eastern European countries] Russian Satellite News Agency reported on May 3 local time that Russian Federation Security Council Secretary Patrushev said that NATO has deployed more troops in Eastern Europe and upgraded military facility. In addition, dozens of military training centers for the Ukrainian army have been opened near the border with Russia. Patrushev said that NATO is increasing its political, military and economic pressure on Russia. NATO has deployed more troops to the Eastern European country, with about 60,000 U.S. troops stationed in the region. NATO has also upgraded military infrastructure in areas near the Russian border, increased the scale and intensity of combat training of troops, provided equipment and weapons to Ukraine, and opened dozens of military training centers for the Ukrainian army.

Traders are betting the RBA will scrap plans for additional rate hikes due to turmoil in U.S. banks.