U.S.-Iran Diplomacy Helps Drive Gasoline Prices Down 15% From May Highs 
Asian Stocks Slip as Oil Rebounds Amid Fed Rate Hike Fears 
White House Seeks $87.6 Billion Emergency Funding for Iran War, Farmers, and Ebola Response 
U.S. Dollar Reaches One-Year High as Tech Sell-Off and Fed Rate Hike Expectations Support Demand 
Bessent Says U.S. Must Strengthen Supply Chains and Economic Security 
Gold Drops Below $4,000 as Strong US Dollar and Fed Rate Hike Expectations Pressure Bullion 
Oil Prices Slip as Iran Sanctions Relief and Hormuz Shipping Recovery Ease Supply Concerns 
Australian Household Spending Rebounds Strongly in May as Travel and Dining Drive Consumer Growth 
Australia Inflation Cools in May, But Core CPI Keeps RBA Rate Hike Risks Alive 
South Korea’s KOSPI Jumps Over 5% as Samsung, SK Hynix Rally on Micron Earnings Boost 
Eurozone growth slowed slightly to 0.3% q/q in Q2, from 0.4% q/q in the two previous quarters. This slowdown can be attributed to the backlash in economic growth in France, the Netherlands and Austria. The modest rebound in German growth is also partly to blame. Spain, in contrast, continued to lead the pack. French growth was expected to slow after its strong Q1 performance. But the slowdown proved to be even stronger than expected, resulting in zero growth.
"This poor performance is due to the very negative contribution of inventory changes, which offsets the very positive contribution of net exports and the slightly positive contribution of domestic demand. This lull should prove temporary. It does not call into question the recovery, as feeble as it may be. Several economic support factors are still at work", says BNP Paribas.
