Japan Posts First Current Account Deficit in 17 Months as Dividend Payments Surge 
Wall Street Slips as Oil Prices Surge 5% on Iran-Hormuz Uncertainty 
Asian Currencies Steady as Markets Await U.S. Inflation Data 
Japan Economy Minister Downplays Inflation Risks Despite BOJ Warning 
ECB Expected to Hold Rates as Middle East Tensions Keep September Hike in Focus 
Dollar Steady as Markets Await U.S. Inflation Data 
Yen Stabilizes After Intervention Slide as Australian Dollar Hits Eight-Week High 
Australian Shares Fall as Westpac Slides, Miners Gain Ahead of RBA Decision 
Oil Prices Rise as Hormuz Reopening Remains Uncertain 
UK Retail Sales Rise as World Cup and Heatwave Boost Food, Pubs and Clothing 
S&P 500, Nasdaq Futures Rise as Iran Risks and CPI Loom 
Oil Prices Rise as US-Iran Talks Stall, Inflation Risks Grow 
Lots of economic dockets scheduled for today and some with high volatility risks associated.
Data released so far:
- New Zealand: ANZ business confidence declined to 16 in June from 20.2 in May. ANZ activity outlook for July declined to 31.4 percent from 35.1 percent.
- Australia: Producer price index by 1 percent y/y in second quarter. Private sector credit growth declined to 6.2 percent y/y in May, down from 6.5 percent in April.
- Japan: Vehicle production declined 1 percent y/y in July. BOJ kept rates and QE on hold but increases US dollar lending program to $24 billion and purchase targets of ETFs from ¥3.3 trillion to ¥6 trillion.
Upcoming:
- Japan: Housing starts data will be released at 5:00 GMT, along with construction orders.
- France: Second quarter flash GDP will be released at 5:30 GMT. Consumer spending and CPI inflation data to be released at 6:45 GMT.
- Germany: Retail sales for June will be released at 6:00 GMT.
- Spain: Second quarter GDP and HICP inflation for July and current account balance for May will be released at 7:00 GMT.
- Switzerland: KOF leading indicator for July will be released at 7:00 GMT.
- Italy: Unemployment report for June will be released at 8:00 GMT. Producer and consumer price inflation will be released at 9:00 GMT.
- United Kingdom: Money supply and consumer credit data will be published at 8:30 GMT.
- Greece: Retail sales for May and Producer price inflation for June is scheduled for release at 9:00 GMT.
- Eurozone: Second quarter GDP estimate and consumer price inflation will be released at 9:00 GMT.
- United States: Second quarter flash GDP and PCE inflation will be reported at 12:30 GMT, followed by Chicago PMI at 13:45 GMT and Michigan consumer sentiment at 14:00 GMT.
- Canada: GDP for May is scheduled at 12:30 GMT, along with raw material price and industrial product price.
