Fed Rate Cut Hopes Fade as Oil Prices Stoke Inflation Fears 
Bank of Japan Holds Rates Steady Amid Iran War Inflation Fears 
RBA Raises Cash Rate to 4.10% in Closest Vote Since Transparent Voting Began 
BOJ Holds Interest Rates Steady Amid Middle East Uncertainty 
RBA Set to Hike Rates Again Amid Inflation Surge and Global Uncertainty 
Goldman Sachs Delays Bank of England Rate Cut Forecast Amid Middle East Inflation Risks 
Not many economic data and events scheduled for today, and all with low to medium volatility risks associated.
Data released so far:
- China: June trade balance came at $41.61 billion with imports rising by 14.1 percent and exports rose by 11.3 percent.
- Japan: Industrial production up 4.2 percent y/y in May.
Upcoming:
- Germany: Wholesale inflation report will be released at 6:00 GMT.
- Spain: HICP inflation report will be released at 7:00 GMT.
- Switzerland: PPI inflation report for June will be released at 7:15 GMT.
- United Kingdom: BoE member Cunliffe is set for a speech at 11:00 GMT.
- United States: Terms of trade report will be released at 12:30 GMT. Michigan consumer sentiment report will be released at 14:00 GMT. FOMC member Bostic is set for a speech at 16:30 GMT.
