German consumer sentiment is set to improve in July driven by the moderate rise in income and economic expectations, latest results of the NIM Consumer Climate powered by GfK showed Thursday. The consumer sentiment index rose to -29.2 in July from -29.7 in the previous month. However, the reading was weaker than economists' forecast of -27.8.

Consumer sentiment survey results from Germany and France are due on Thursday, headlining a light day for the European economic news. At 2.00 am ET, the market research group GfK is scheduled to issue Germany's consumer confidence survey results. The forward-looking consumer sentiment index is seen rising to -27.8 in July from -29.8 in June.

German business sentiment improved in June as firms perceived the current business environment as less uncertain following the signing of the US-Iran peace deal, survey results from the ifo Institute showed Wednesday. The business climate index rose to a three-month high of 85.6 in June, as expected, from 85.0 in the previous month.

The commodity-linked currencies such as Australia, the New Zealand and the Canadian dollars weakened against their major currencies in the Asian session on Wednesday, after the crude oil prices have moved lower following active shipping movements across the Strait of Hormuz since its reopening, which eased supply disruption concerns.

Australia's consumer price inflation eased in May on cooling fuel prices but core inflation strengthened further and remained above the central bank target, adding chances of an interest rate hike. Consumer prices increased 4.0 percent on a yearly basis in May, slower than the 4.2 percent rise in April, the Australian Bureau of Statistics reported Wednesday.

The UK private sector contracted for the second straight month in June due to the sustained weakness in the services sector, flash results of the purchasing managers' survey by S&P Global showed Tuesday. The flash composite output index dropped to a 14-month low of 49.4 in June from 49.7 in the previous month.

The euro area private sector contracted at a slower pace in June as services activity posted a slower fall while manufacturing output continued to grow moderately, flash survey results from S&P Global showed Tuesday. The flash composite output index registered 49.5 in June, up from 48.5 in the previous month. The score was above economists' forecast of 49.1.

The U.S. dollar strengthened against most major currencies in the European session on Tuesday, as traders focus on the Federal Reserve's (Fed) probable intention to maintain higher interest rates for a longer period of time.

The antipodean currencies such as Australia, the New Zealand and the Canadian dollars weakened against their major currencies in the Asian session on Tuesday, as Asian stock markets traded lower amid continued uncertainty about the progress in the ongoing peace talks to end the Middle East war and the related complete opening of the Strait of Hormuz. Meanwhile, the US granted Iran a 60-day license to sell oil on global markets, boosting expectations for a faster recovery in crude oil supply.

Europe's new car registrations increased in May despite persistent geopolitical headwinds weighing on outlook, the European Automobile Manufacturers' Association, or ACEA, said Tuesday. New car registrations grew 3.2 percent on a yearly basis in May but slower than the 5.1 percent rise in April and 12.5 percent surge in March.

Japan's private sector activity grew the most in three months in June, underpinned by faster increase in manufacturing output and a renewed upturn in services activity, flash survey data compiled by S&P Global showed Tuesday. The flash composite output index rose to 52.5 in May from 51.1 in the previous month. A score above 50.0 indicates expansion.

The British pound strengthened against other major currencies in the European session on Monday, after Sir Keir Starmer, the leader of the Labour Party and prime minister of the United Kingdom announced his resignation.

The Japanese yen weakened against other major currencies in the Asian session on Monday, as investors are still concerned that the Middle East crisis and ongoing disruptions to the Strait of Hormuz energy supply would continue to put pressure on Japan's economy.

Canadian stocks inched lower on Friday as investors weighed the U.S.-Iran Memorandum of Understanding signed on Wednesday against the sudden cancellation of today's planned first round of U.S.-Iran talks in Switzerland amid fresh Israel-Hezbollah attacks.

The Bank of Russia reduced its benchmark interest rate by a quarter basis points on Friday, marking the ninth consecutive cut as inflation stays above the target. The Board of Directors decided to cut the key rate to 14.25 percent from 14.50 percent, the Russian central bank said. Markets had anticipated a 50 basis-point reduction.

UK retail sales rebounded in May as promotions and the hot weather drove consumer spending data, from the Office for National Statistics showed Friday. Retail sales grew by more-than-expected 1.2 percent on a monthly basis in May, in contrast to April's 1.0 percent fall. Sales were forecast to climb 0.5 percent. Excluding auto fuel sales, retail sales moved up 1.2 percent.

Retail sales and public sector finances from the UK and monetary policy decision from Russia are due on Friday. At 2.00 am ET, the Office for National Statistics releases UK retail sales and public sector net borrowing figures.

A report released by the Conference Board on Thursday showed its reading on leading U.S. economic indicators edged higher for the second straight month in May. The Conference Board said its leading economic index inched up by 0.1 percent in May after rising by 0.2 percent in April. The uptick matched economist estimates.

Philadelphia-area manufacturing activity expanded overall in the month of June, according to a report released by the Federal Reserve Bank of Philadelphia on Thursday. The Philly Fed said its diffusion index for current general activity shot up to a positive 10.3 in June from a negative 0.4 in May, with a positive reading indicating growth.

The Bank of England left its key interest rate unchanged on Thursday as inflation slowed unexpectedly and unemployment declined, and the US-Iran peace deal lowered the upside risks to inflation. The Monetary Policy Committee, led by Governor Andrew Bailey, voted 7-2 to hold the bank rate at 3.75 percent, which is the lowest rate since June 2023.

A report released by the Labor Department on Thursday showed a modest pullback in first-time claims for U.S. unemployment benefits in the week ended June 13th. The Labor Department said initial jobless claims dipped to 226,000, a decrease of 4,000 from the previous week's revised level of 230,000. Economists had expected jobless claims to edge down to 225,000.

The Swiss National Bank left its policy rate unchanged on Thursday as inflation continues to remain well within the target. The central bank left its policy rate at zero percent, in line with market expectations. The SNB had lowered the key rate by 175 basis points since March 2024.

The British pound weakened against other major currencies in the European session on Thursday, as traders await the Bank of England (BOE) monetary policy decision due later in the day.

The Philippine central bank lifted its key interest rates by 25 basis points on Thursday to control inflation expectations and mitigate the risk of second-round effects. The Monetary Board of the Bangko Sentral ng Pilipinas decided to lift the reverse repurchase rate by 25 basis points to 4.75 percent. The interest rates on the overnight deposit and lending facilities were adjusted.

The UK unemployment rate dropped in the three months to April and wages grew more than expected, official data revealed Thursday. The jobless rate fell to 4.9 percent in the three months to April from 5.0 percent in the three months to March, the Office for National Statistics said. The rate was expected to remain unchanged at 5.0 percent.