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Eurozone: Heatwaves add macro risk for growth – ING
ING’s Global Head of Macro Carsten Brzeski warns that recurring European heatwaves are becoming a structural drag on Eurozone growth. He cites academic and ECB research showing measurable losses in output and higher food inflation linked to extreme temperatures.Fxstreet
Mon, Jun 29
Euro area: Oil-driven inflation relief but ECB wary – Commerzbank
Guntermann at Commerzbank notes that while Oil prices near pre-war levels reduce tail risks for growth, inflation and rate volatility, Euro area inflation is not falling fast enough to dispel European Central Bank (ECB) hawkishness.
Fxstreet
Mon, Jun 29
Iran and Oman say they hold sovereignty over Strait of Hormuz
Iranian Deputy Foreign Minister Kazem Gharibabadi has stated in a post on X, formerly known as Twitter, that Tehran has concluded a meeting with Oman in which review current issues related to the Strait of Hormuz, a critical chokepoint to almost 20% of global energy supply.Fxstreet
Mon, Jun 29
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US Stocks Tumble as Nasdaq Drops Over 4%; Micron Plunges Over 12% on Fears Slowing AI Data Center Expansion Will Dent Infrastructure Demand
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