Gold Price Ends Lower for Fourth Week Despite Rebound as Fed Rate Hike Bets Strengthen 
China Manufacturing PMI Edges Higher in June as Exports and AI Investment Boost Growth 
Trump Suspends Some Morocco Fertilizer Tariffs to Ease U.S. Supply Shortage 
China Sets 1.25% Overnight Reverse Repo Rate Below Market Expectations 
Israeli Airstrike Kills Three in Central Gaza Despite Ceasefire 
Gold Price Hits Annual Low as Fed Rate Hike Bets and Sticky Inflation Weigh on Bullion 
Javier Milei Cabinet Chief Manuel Adorni Resigns Amid Spending Scandal Investigation 
Trump Urges Gasoline Retailers to Cut Prices to $2.50 Per Gallon, Warns of Legal Action 
Central Banks Eye Gold, Reduce Dollar Exposure as AI Adoption Accelerates: OMFIF Survey 
Canada Grants C$7 Million to Greenland Molybdenum Mine to Strengthen Critical Minerals Supply 
US, Iran Agree to Halt Attacks Ahead of Doha Talks on Strait of Hormuz 
Maria Corina Machado’s Return to Venezuela Faces U.S. Hesitation After Deadly Earthquakes 
Andy Burnham Sets Out Vision to Decentralize Britain as Labour Leadership Race Begins 
Iran Skips U.S. Technical Talks Over Unmet MoU Conditions and Frozen Funds Dispute 
US Dollar Slips After PCE Inflation Data as Fed Rate Hike Expectations Stay Elevated 
Asian Currencies Stay Range-Bound as Investors Eye China Data, RBNZ Outlook and U.S.-Iran Ceasefire 
Downside risks to the South Korean growth exist, following impeachment of President Park Guen-hye by the National Assembly on Friday. The country’s lawmakers have voted to impeach President Park from her executive powers on Friday. Her duties will be suspended with immediate effect, with the Prime Minister taking over in the interim.
The Court will now decide if she will be permanently removed from her position. A ruling could take up to six months. If approved, fresh elections will have to be called within two months, which means by August at the latest.
Her temporary suspension prevents the ongoing political crisis from deepening further in the near-term. Nevertheless, the lack of a clear leadership could complicate the ongoing government efforts to contain the fallout from production halts in its largest smartphone producer and restructuring in the shipping sectors.
"We see downside risks to our growth forecast of 2.9 percent for 2017," Commerzbank commented in its latest research report.
