Bank of Korea Signals Potential Interest Rate Hikes as Inflation Remains Elevated 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
Markets Stay Strong Despite Oil Shock Concerns as Earnings Drive Investor Confidence 
EU Warns of Response as U.S. Considers 25% Tariffs on Car Imports 
Global Markets Rise as Oil Prices Stabilize Amid Middle East Tensions 
Gold Prices Slip Amid Iran Tensions and Rising Rate Concerns 
UAE Exits OAPEC Amid Shift Toward Independent Oil Strategy and Market Uncertainty 
Fed’s Goolsbee Warns Inflation Remains Elevated, Signals Caution on Rate Cuts 
Oil Prices Ease Slightly as Strait of Hormuz Tensions and U.S.-Iran Talks Support Market Above $100 
Lots of economic dockets scheduled for today and some with high volatility risks.
Data released so far –
- China: GDP grew 6.7 percent in second quarter from a year back and 1.8 percent on quarterly basis. Urban investments grew 9 percent y/y in June. Industrial production grew 6.2 percent y/y and retail sales grew 10.6 percent on yearly basis. New loans rose by 1.38 trillion and money supply grew 11.8 percent.
Upcoming:
- Italy: Trade balance for May will be announced at 8:00 GMT.
- Eurozone: Trade balance for May will be announced at 9:00 GMT, along with consumer price inflation for June.
- United Kingdom: Bank of England (BoE) governor Mark Carney is scheduled to speak at 12:00 GMT. CB leading economic index will be published at 13:30 GMT.
- United States: New York Empire State manufacturing index will be released at 12:30 GMT, along with retail sales and consumer price inflation for June. Michigan consumer sentiment is due at 14:00 GMT.
- Canada: Manufacturing shipments data for May will be announced at 12:30 GMT.
