Japan Government Backs Earlier BOJ Rate Hike as Inflation Pressures Build 
BOJ Rate Decision in Focus as Sticky Inflation, Weak Yen Shape USD/JPY and Nikkei Outlook 
BSP Sees Philippine Inflation Easing, Keeps Policy Options Open 
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Lots of economic data and events scheduled for today and some with high volatility risks associated.
Data released so far:
- Japan: Markit services PMI improves to 53.3 in June.
- New Zealand: ANZ commodity price rose by 2.1 percent in June.
- China: Caixin services PMI declines to 51.6 in June.
Upcoming:
- Spain: Markit services PMI report will be released at 7:15 GMT.
- Italy: Markit services PMI report will be released at 7:45 GMT.
- France: Markit services PMI report will be released at 7:50 GMT.
- Germany: Markit services PMI report will be released at 7:55 GMT.
- Eurozone: Markit services PMI report will be released at 8:00 GMT. ECB will hold its non-monetary policy meeting today. Retail sales report for May will be published at 10:00 GMT.
- United Kingdom: Markit services PMI report will be published at 8:30 GMT.
- United States: Factory orders report will be published at 14:00 GMT, along with TIPP economic optimism. FOMC will release minutes of meeting at 18:00 GMT.
