Royal Bank of Canada (RBC) analysts Abbey Xu and Rachel Battaglia report that June spending by RBC Canadian cardholders remained relatively stable, with core retail sales up modestly. Discretionary goods led gains, while essential spending including gasoline also contributed.

Commerzbank economists Dr. Jörg Krämer and Bernd Weidensteiner argue that the AI-driven investment surge in US high-tech and IT is substantial but not yet excessive compared with past booms.

Canada Net Change in Employment came in at 18.2K, above forecasts (10K) in June

Canada Unemployment Rate came in at 6.5%, below expectations (6.6%) in June

Canada Building Permits (MoM) climbed from previous -7.6% to -1.7% in May

Canada Participation Rate remains unchanged at 65% in June

Wells Fargo economists Tom Porcelli and Sarah House discuss upcoming BEA changes to the Personal Consumption Expenditures (PCE) Price Index that will affect data from 2021 onward.

Mexico Industrial Output (YoY) came in at -0.7%, below expectations (-0.1%) in May

TD Macro Research expects the Canadian labour market to soften in June, with employment unchanged versus market expectations for a 10k gain after May’s 87.8k surge.

India Bank Loan Growth: 18.6% (June 15) vs 17.7%

Portugal Global Trade Balance: €-8.705B (May) vs previous €-8.563B

ING’s Francesco Pesole notes the US Dollar (USD) has been broadly unchanged despite renewed Middle East tensions, as Oil has retraced and risk sentiment improved.

According to sources, the Bank of Japan (BoJ) may revise up the fiscal 2026 economic growth forecast in the quarterly report due in July. The BoJ is expected to report that it will keep focus on the risk of inflation overshooting the central bank’s target, Reuters reports.

Greece Industrial Production (YoY) increased to 3.9% in May from previous 2.1%

Commerzbank’s Dr. Christoph Balz and Bernd Weidensteiner interpret recent data and Fed communications as pointing to stable policy rates in coming months.

BNY strategist David Tam warns that a renewed rise in rates volatility, as measured by the MOVE Index, could pressure U.S. equities, particularly technology and growth segments. He says investors may need to reduce equity exposure, shorten portfolio equity duration and favor defensive sectors.

Italy Industrial Output w.d.a (YoY) below forecasts (1.3%) in May: Actual (1.1%)

Italy Industrial Output s.a. (MoM) below forecasts (-0.2%) in May: Actual (-0.3%)

Japan’s Chief Cabinet Secretary Minoru Kihara said during the European trading session on Friday that the specifics of monetary policy to be left to the Bank of Japan (BoJ).

Commerzbank’s Volkmar Baur says AI-related capital-goods imports are structurally widening the US trade deficit. Strong foreign demand currently helps finance the gap, but weaker confidence in the United States (US) AI (Artificial intelligence) investment story could create risks for the Dollar.

Austria Industrial Production (YoY) climbed from previous 0.6% to 0.7% in May

Deutsche Bank strategists say a strong semiconductor rally and lower oil prices helped lift global equities. The S&P 500 rebounded as investors rotated from defensive sectors into growth and cyclical stocks, while gains in Micron and SK Hynix reinforced confidence in the AI investment cycle.

France Inflation ex-tobacco (MoM) dipped from previous 0.1% to -0.3% in June

DBS economist Radhika Rao expects India’s June CPI inflation to edge up to 4.1% YoY from 3.9%, driven by food normalisation and fuel-cost pass-through.

Commerzbank’s Tatha Ghose reports that the National Bank of Poland kept rates at 3.75% and a neutral stance, but Governor Adam Glapinski’s press conference was markedly dovish.

The Indian Rupee (INR) extends Thursday’s recovery against the US Dollar (USD) in the opening session on Friday. The USD/INR pair falls further to near 95.22 as the US Dollar weakens as the restart of the war in the Middle East between the United States (US) and Iran won’t be prolonged.

Gold prices fell in India on Friday, according to data compiled by FXStreet.

Netherlands, The Manufacturing Output (MoM) dipped from previous 1.4% to 0.1% in May

The AUD/USD pair attracts some buyers to near 0.6950 during the Asian trading hours on Friday. The Australian Dollar (AUD) strengthens against the US Dollar (USD) on hawkish rhetoric from the Reserve Bank of Australia (RBA).

Japan’s Finance Minister Satsuki Katayama said on Friday that the government will closely tracking economic indicator and market conditions.