Japan’s annual wage negotiations concluded with average pay gains topping 5% for a third year, underscoring the economy’s resilience and reinforcing the Bank of Japan’s stance to keep raising interest rates.
French Finance Minister Roland Lescure said he will push for a finance bill for next year that brings a further improvement in public finances, and expects parliament “most likely” will allow a budget to pass.
Jordan Rochester, Mizuho FICC strategy EMEA head, discusses sharp moves in the yen. “From all the frameworks, dollar-yen should be lower,” he tells Bloomberg Television. He adds there has been a change in behaviors in the Japanese space and the yen is not behaving like a G10 currency. “It trades like an EM in terms of its correlation to rates,” Rochester says. (Source: Bloomberg)
French oil major TotalEnergies SE is offering millions of barrels of Iraqi crude that can be promptly delivered to Asia, according to traders, adding to a market already brimming with supply.
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China’s services activity eased less than expected in June, a private survey showed, adding to signs that the country’s economic momentum is picking up.
Vietnam’s economic growth beat estimates in the second quarter, while trade grew faster than expected in June and inflation slowed.
