UK Businesses Urge Government to Cut Electricity Levies 
Japanese Yen Retreats as Dollar Rises Ahead of Fed, BOJ Rate Decisions 
Hormuz Vessel Traffic Drops to Single Digits 
BOJ Flags Import Costs and Yen Shocks as Persistent Inflation Risks 
BOJ Set to Raise Rates to 1.25% as Inflation Risks Build 
China Industrial Output Beats Forecasts as Exports Support Growth 
Oil Prices Surge as Houthi Attacks Deepen Hormuz Supply Fears 
Asian Bank Stocks Slide as BofA Warning and Rising Yields Hit Sentiment 
Asian Tech Stocks Slide as AI Concerns and Rising Bond Yields Hit Chipmakers 
Dollar Rises as Fed Hike Bets Weigh on Asian Currencies 
Gold Prices Steady as Oil Disruptions Boost Fed Rate Hike Bets 
China Home Prices Fall Again as Property Slump Drags on Growth 
Central Banks Could Buy 20,000 Tonnes of Gold: BofA 
German 2-Year Yield Hits 2023 High as Rate Hike Bets Rise 
Asian Stocks Fall as AI Fears and Oil Surge Hit Markets 
Saudi Oil Exports Face 4% Global Supply Threat as Pipeline Remains Shut 
EUR/USD Eyes 1.17 as Fed Decision Could Weigh on Dollar 
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Retail sales in the US increased by 17.7 percent in May to shatter the lofty 8 percent estimate of economists surveyed by Dow Jones as consumers freed from lockdowns began shopping again.
Clothing and accessories stores posted the biggest gain at 188 percent while hobbies, sporting goods, books, and musical instruments surged 88.2 percent.
Motor vehicles and parts climbed by 44.1 percent as food services and drinking places rebounded by 29.1 percent.
Many states started allowing outdoor dining in May after the food establishments were limited to pickups and delivery.
While the monthly gains set records, total sales were down 6.1 percent from last year ago.
The robust numbers revealed an hour before stock trading provided an upbeat Wall Street mood with Dow going up by more than 500 points by late morning.
