ECB Set to Raise Interest Rates as Energy Shock Fuels Eurozone Inflation Concerns 
RBI Hits Pause as Geopolitical Storm Clouds Gather 
RBA Expected to Hold Interest Rates at 4.35% as Markets Watch AUD/USD and ASX 200 
Indonesia Passes New Central Bank Law, Raising Investor Concerns Over Policy Independence 
New Zealand Unemployment and Inflation Debate Intensifies Ahead of 2026 Election 
BOJ Rate Hike Expected to Boost Yen, Impact USD/JPY and Nikkei 
Jerome Powell Warns Against Politicizing the Federal Reserve, Defends Democratic Institutions 
BoE Policymaker Alan Taylor Signals No Need for Interest Rate Hike Amid Iran War Inflation Risks 
Lots of economic data and events scheduled for today, but all with low to medium volatility risks associated.
Data released so far:
- Australia: May building permits up 3.1 percent y/y in May. RBA kept interest rate unchanged at 150 bps at today’s meeting.
- Spain: Unemployment declined by 90,000 in June.
Upcoming:
- United Kingdom: Construction PMI data will be released at 8:30 GMT, along with the release of MPC minutes. BRC shop price report will be released at 23:00 GMT.
- Eurozone: PPI inflation and May retail sales report at 9:00 GMT.
- United States: ISM New York report will be released at 13:45 GMT and May factory orders report will be released at 14:00 GMT.
- Canada: Markit manufacturing PMI report will be released at 13:30 GMT.
- New Zealand: Global dairy auction is scheduled today.
- Australia: AiG performance of services report will be released at 22:30 GMT.
