ECB’s Cipollone Backs Digital Euro as Europe Pushes for Payment System Independence 
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal 
South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom 
MAS Holds Monetary Policy Steady as Strong Growth Raises Inflation Risks 
Jerome Powell Attends Supreme Court Hearing on Trump Effort to Fire Fed Governor, Calling It Historic 
Lots of economic data and events scheduled for today, and some with high volatility risks associated.
Upcoming:
- Germany: PPI inflation report for the month of May will be released at 6:00 GMT. Prior 2.5 percent y/y, expected 2.1 percent.
- Italy: Trade balance report due at 8:00 GMT.
- Eurozone: April current account balance report due at 8:00 GMT, followed by construction output report at 9:00 GMT. ECB President Draghi’s speech due at 14:00 GMT.
- United Kingdom: Inflation reports including RPI, CPI, PPI, and HPI will be released at 8:30 GMT. CBI will release its industrial trend survey report at 10:00 GMT.
- United States: MBA mortgage applications report will be released at 11:00 GMT. EIA will release its weekly crude oil inventory report at 14:30 GMT. Federal Reserve will announce monetary policy decision and will release projection materials at 18:00 GMT.
- Canada: CPI inflation report will be released at 12:30 GMT.
- New Zealand: Q1 GDP report due at 22:45 GMT.
