Euro zone inflation data

The Japanese yen strengthened following the Bank of Japan's anticipated rate hike to 0.25%, while the Australian dollar weakened due to a disappointing inflation report. In Europe, inflation data is under scrutiny, with core inflation anticipated to hold steady at 2.9%, possibly influencing decisions by the European Central Bank (ECB) for a rate cut in September. Despite Eurozone GDP growth of 0.3% quarter-on-quarter, individual country performances varied, with Germany contracting slightly while Spain showed stronger growth. German inflation slightly outperformed expectations, raising hopes for stable euro-region inflation figures. The U.S. Treasury plans to borrow $740 billion through bond issuance in the upcoming quarter, a decrease from prior estimates, but future fiscal challenges loom due to the approaching debt ceiling reset in 2025. Overall, mixed economic signals from Europe and the U.S. suggest complex market conditions ahead.