ECB Expected to Hold Rates as Middle East Tensions Keep September Hike in Focus 
China Inflation Cools in July as CPI Misses Forecast, PPI Deflation Eases 
Singapore Raises 2026 GDP Growth Forecast as AI Demand Fuels Economy 
US Dollar Near Two-Month Low as Markets Await Inflation Data 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
BOJ Rate Decision in Focus as Sticky Inflation, Weak Yen Shape USD/JPY and Nikkei Outlook 
BOJ Signals Faster Rate Hikes as Inflation Risks Raise September Move Odds 
Chile Central Bank Holds Interest Rate at 4.5% as Inflation and Global Risks Persist 
Lots of economic data and events scheduled for today and some with high volatility risks associated.
Data released so far:
- Australia: Westpac leading index declined 0.1 percent in April. Construction work done in the first quarter declined by 0.7 percent.
Upcoming:
- Japan: Leading economic index and coincident index will be updated at 5:00 GMT.
- Germany: GFK consumer confidence report will be published at 6:00 GMT.
- Switzerland: First quarter industrial production report will be released at 7:15 GMT.
- Eurozone: EU financial stability review report will be released at 9:00 GMT. ECB President Draghi’s speech is scheduled at 12:45 GMT.
- United States: MBA mortgage applications report will be released at 11:00 GMT, followed by House price report at 13:00 GMT, and existing home sales report at 14:00 GMT. EIA will report crude oil inventory details at 14:30 GMT. FOMC will release minutes of meeting report at 18:00 GMT. FOMC member Kaplan is scheduled to speak at 22:00 GMT.
- Canada: Bank of Canada (BoC) will announce interest rate decision at 14:00 GMT.
