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Reports that Iran’s enriched uranium is stored in protected underground tunnels

China’s industrial profits January – May 2025: -1.1% y/y (prior +1.4% y/y)

New Zealand inflation expectations have jumped to their highest since April 2023

US will not complete scheduled deliveries of crude oil into the SPR until the end of year

European Central Bank’s Piero Cipollone will speak on Friday

South Korea government holds emergency meeting on household debt

Tokyo June 2025 headline CPI +3.1% y/y (3.3% expected)

Japan May unemployment rate 2.5% (expected 2.5%)

Goldman Sachs on oil, sees Brent $90 if interruption of trade through the Strait of Hormuz

Japan May retail sales +2.2% y/y (expected +2.7%)

JP Morgan expects more USD weakness could encourage greater diversification into EM assets

US Commerce Secretary Lutnick has said a US-China trade deal was signed two days ago