US Stock Futures Hold Steady as Soft Inflation Data Eases Fed Rate Hike Fears 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
Oil Prices Rise as U.S. Strikes on Iran Raise Strait of Hormuz Supply Fears 
UBS Boosts China Tech Bets, Adds Kuaishou and Meituan to Focus List 
Gold Prices Slip as Oil Rally Fuels Inflation Fears, Strengthens Dollar 
Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
Oil Prices Set for Weekly Surge as U.S.-Iran Conflict Fuels Supply Fears 
The U.S. Treasuries jumped massively on Tuesday, on a large-scale demand for safe-haven assets as investors are worried over the ongoing disturbed political situation in Italy and huge sell-off in the euro currency pairs. Data-wise, not much relevance seems today, but developments in the Italian periphery will continue to dominate financial markets.
The yield on the benchmark 10-year Treasuries remained slumped nearly 9 basis points to 2.84 percent, the super-long 30-year bond yields plunged nearly 7 basis points to 3.02 percent and the yield on the short-term 2-year too traded 7 basis points lower at 2.41 percent by 11:35GMT.
The highlight of the week in the US will be the May labor market report on Friday. Non-farm payrolls are expected to have increased by about 190k, the average rate of the past twelve months, while the unemployment rate is expected to remain unchanged at 3.9 percent, the lowest since 2000. Following an increase of just 0.1 percent m/m in April, average hourly earnings are expected to jump 0.3 percent m/m taking the annual rate back up to 2.7 percent y/y.
The same day brings the May ISM manufacturing indices as well as April construction data. Wednesday will bring the second estimate of Q1 GDP, which is expected to reaffirm the initial growth estimate of 2.3 percent q/q annualized, as well as the Fed’s latest Beige Book and the May ADP employment change figure. And Thursday will bring April personal income and spending along with the associated PCE deflators.
In terms of today, the Conference Board consumer confidence indices for May along with the S&P CoreLogic CS house price data for March are the most noteworthy data.
Meanwhile, the S&P 500 Futures slipped 0.66 percent to 2,700.00 by 11:40GMT, while at 11:00GMT, the FxWirePro's Hourly Dollar Strength Index remained slightly bullish at 87.93 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
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