ECB Warns of Rising Inflation Risks Amid Iran War Energy Shock 
Bank of Japan Faces Rate Uncertainty Amid Middle East Oil Shock 
Morgan Stanley: Fed Rate Cuts Still on Track Despite Oil-Driven Inflation 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
Bank of Korea Nominee Shin Hyun-song Calls for Flexible Monetary Policy Amid Iran War Risks 
Bank of Japan's Ueda Flags Low Real Interest Rates as Key Factor in Rate Hike Timing 
India's Central Bank Holds Rates Amid Iran War Energy Shock 
RBNZ Holds Rates at 2.25% as Middle East Conflict Fuels Inflation Concerns 
Australia Bans Card Payment Surcharges Starting October 2025 
Bank of America Maintains Forecast for Two Fed Rate Cuts in 2026 Despite Inflation Risks 
Lots of economic data and events scheduled for today and all with low to medium volatility risks associated.
Data released so far:
- Australia: Trade balance improves to 2.471 billion as exports increased by 9 percent and imports by 1 percent.
Upcoming:
- Germany: Factory orders report for May will be published at 6:00 GMT.
- Switzerland: Consumer price inflation report for June will be published at 7:15 GMT.
- United States: FOMC member Williams will be speaking at 7:45 GMT, Powell at 14:00 GMT, and Fischer at 23:30 GMT. MBA mortgage applications numbers will be released at 11:00 GMT, followed by challenger jobs report at 11:30 GMT and ADP employment numbers at 12:15 GMT. Trade balance report for May will be published at 12:30 GMT. Markit services PMI report will be published at 13:45 GMT, and ISM non-manufacturing PMI at 14:00 GMT. EIA will release crude oil inventory report at 14:30 GMT.
- Eurozone: ECB’s Praet is scheduled to speak at 10:00 GMT. ECB will release monetary policy minutes at 11:30 GMT.
- Canada: May trade numbers will be reported at 12:30 GMT, along with building permits for the same month.
