Fed

ECB Governing Council member Emmanuel Moulin said the bank is in a good position after June's rate hike, citing easing oil-driven inflation and the Hormuz reopening, and ruled out entering a new tightening cycle.

Bundesbank chief Joachim Nagel said the ECB must keep all options open and stay vigilant on inflation, calling June's rate hike unavoidable but adding it is too early to signal further increases ahead of the next meeting.

Iran's envoy to China said Tehran will grant Beijing and other friendly nations special treatment on new Hormuz service fees, as talks with the US and Oman continue over the strait's permanent post-war arrangements.

A cargo ship came under attack by unknown armed assailants 30 nautical miles southwest of Hodeida, Yemen, on Sunday, UKMTO said, crew and vessel reported safe, the latest incident on a key Red Sea shipping route amid a fragile US-Iran ceasefire.

OPEC+ agreed to raise output by 188,000 bpd from August, a fifth straight increase, as Hormuz shipping traffic recovers and Brent falls near $72, back to pre-war levels, while Iraq presses the group for higher quotas after the UAE's exit.

RBNZ set to hike rates 25bps to 2.50% on July 8, first increase in over three years, as inflation at 3.1% stays above target despite oil prices retreating near pre-war levels; more than half of economists see a further hike to 2.75% by September.

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