ECB’s Cipollone Backs Digital Euro as Europe Pushes for Payment System Independence 
Federal Reserve Faces Subpoena Delay Amid Investigation Into Chair Jerome Powell 
BOJ Policymakers Warn Weak Yen Could Fuel Inflation Risks and Delay Rate Action 
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Bank of England Expected to Hold Interest Rates at 3.75% as Inflation Remains Elevated 
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U.S. Prosecutors Investigate Fed Chair Jerome Powell Over Headquarters Renovation 
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Not many economic data and events scheduled for today, and all with low to medium volatility risks associated.
Data released so far:
- China: June trade balance came at $41.61 billion with imports rising by 14.1 percent and exports rose by 11.3 percent.
- Japan: Industrial production up 4.2 percent y/y in May.
Upcoming:
- Germany: Wholesale inflation report will be released at 6:00 GMT.
- Spain: HICP inflation report will be released at 7:00 GMT.
- Switzerland: PPI inflation report for June will be released at 7:15 GMT.
- United Kingdom: BoE member Cunliffe is set for a speech at 11:00 GMT.
- United States: Terms of trade report will be released at 12:30 GMT. Michigan consumer sentiment report will be released at 14:00 GMT. FOMC member Bostic is set for a speech at 16:30 GMT.
