Canada, British Columbia Launch $5 Billion Infrastructure Partnership to Boost Housing, Transit, and Healthcare 
Australia Eases Capital Gains Tax Reforms to Support Small Businesses and Startups 
Europe EV Demand Surges as Fuel Prices Rise Amid Iran Conflict 
Fed Chair Kevin Warsh Signals Policy Overhaul as Hawkish Rate Outlook Rattles Markets 
Canada Imposes 10% Tariff on Canned Vegetable Imports to Protect Domestic Industry 
Asian Currencies Steady as Dollar Holds Firm Ahead of Fed Decision and US-Iran Deal Details 
Oil Prices Ease as Markets Weigh U.S.-Iran Peace Deal and Strait of Hormuz Reopening 
Italy’s Economy Outpaces Eurozone Peers as Investment Spending Fuels Growth 
The US ISM non-manufacturing index is likely to have recovered in June, following a decline in May. According to a Societe Generale research report, the ISM non-manufacturing index might have risen to 54.4 in June after dropping to 52.9 in May.
Regional service sector surveys have proved mixed signals for June. For instance, revenue in the Richmond Fed’s services survey dropped to zero in June from 11 in May. However, employers continue to hire workers as that index continued to stay at 18.
Hiring in retail, surprisingly, rose sharply to 31 in June after dropping from 26 in March to -1 in April and -3 in May. June’s figure is the highest since records started in 1993, noted Societe Generale. In the mean time, the Dallas Fed’s services revenue index rose to 15.6 in June from May’s 5.8, the highest reading in almost one year.
Further, with the real spending expected to surpass annualized 4 percent in the second quarter, services activity is likely to have risen given the solid rate of expenditures.
The employment index was lower than 50 at 49.7 in May. A rebound in this indicator might augur well for the upcoming employment report, added Societe Generale.
