RBA Raises Interest Rates by 25 Basis Points as Inflation Pressures Persist 
Federal Reserve Faces Subpoena Delay Amid Investigation Into Chair Jerome Powell 
Japan Declines Comment on BOJ’s Absence From Global Support Statement for Fed Chair Powell. Source: Asturio Cantabrio, CC BY-SA 4.0, via Wikimedia Commons 
ECB’s Cipollone Backs Digital Euro as Europe Pushes for Payment System Independence 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
U.S. Urges Japan on Monetary Policy as Yen Volatility Raises Market Concerns 
Lots of economic data and events scheduled for today and some with high volatility risks associated.
Data released so far:
- Australia: Westpac consumer confidence declined by 1.8 percent in June.
- China: Urban investment is up 8.6 percent y/y. Industrial production is up 6.5 percent y/y. Retail sales grew 10.7 percent y/y in May.
- Japan: Industrial production is up 5.7 percent y/y in April, up 4 percent on a monthly basis.
Upcoming:
- Germany: HICP inflation report will be released at 6:00 GMT.
- United Kingdom: Unemployment report will be published at 8:30 GMT.
- Eurozone: Industrial production report for April will be released at 9:00 GMT, along worth first quarter employment change report.
- United States: MBA mortgage applications report will be published at 11:00 GMT, followed by retail sales report and consumer price inflation report at 12:30 GMT. EIA will release crude oil inventory report at 14:30 GMT. FED will announce interest rate decision at 18:00 GMT.
- New Zealand: 1st quarter GDP details will be released at 22:45 GMT.
