Juneteenth News Round Up - Newsquawk Asia-Pac Market Open

US markets were closed for Juneteenth.
Lebanon's Hezbollah chief said nowhere in Israel will be safe from the group's attacks in case of war including targets in the Mediterranean and if war is 'imposed' on Lebanon, the group will fight with 'no rules and no ceilings', while Cyprus allowing Israel use of its airports means that it has become a part of the war and that Hezbollah will deal with it as such. In relevant news, Hezbollah announced it was targeting the positions of Israeli soldiers in Jal Al-Alam, Al-Baghdadi and Al-Raheb, according to Sky News Arabia.
Looking ahead, highlights include New Zealand GDP, PBoC Loan Prime Rates, BCB Rate Decision, Supply from Japan.

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Highlights include New Zealand GDP, PBoC Loan Prime Rates, BCB Rate Decision, Supply from Japan.
Click for the Newsquawk Week Ahead.

US TRADE

BoC Minutes noted that the Governing Council considered the merits of waiting until July 24th to cut rates prior to the June 5th rate announcement and while members recognised the risk that progress on progress on inflation could stall, there was consensus indicators showed enough progress to warrant a cut. Furthermore, members agreed that any future monetary policy easing would likely be gradual and the timing of cuts would depend on the data and implications for the future path of inflation.

MIDDLE EAST

Lebanon's Hezbollah chief said nowhere in Israel will be safe from the group's attacks in case of war including targets in the Mediterranean and if war is 'imposed' on Lebanon, the group will fight with 'no rules and no ceilings', while Cyprus allowing Israel use of its airports means that it has become a part of the war and that Hezbollah will deal with it as such. In relevant news, Hezbollah announced it was targeting the positions of Israeli soldiers in Jal Al-Alam, Al-Baghdadi and Al-Raheb, according to Sky News Arabia.
A meeting between US envoy Hochstein and Israeli PM Netanyahu was said to be bad and Hochstein said accusations about withholding weapons are false, according to Axios citing informed sources. Furthermore, US officials said the new dispute between Netanyahu and the Biden administration hinders US-Israeli diplomatic efforts to calm tensions on the border between Lebanon and Israel, while it was reported by Sky News Arabia that President Biden wants to meet with Israeli PM Netanyahu as soon as possible.
Washington informed Tel Aviv of an arms shipment "soon", according to Asharq News.
US Central Command said it conducted an air strike in Syria that killed a senior Islamic State official on June 16th.
Iran signalled a major boost in nuclear enrichment at a key site, while hundreds of new centrifuges would triple Iran’s uranium enrichment capacity at a deeply buried underground nuclear facility, according to Washington Post.

OTHER

Russian Foreign Ministry said they have significant amounts of Western funds and properties within their jurisdiction in response to the West using income from frozen Russian assets,
Russian President Putin said they could cooperate with North Korea in the military sphere within the new agreement, according to Ifx.

NOTABLE HEADLINES

Chinese President Xi underscored the importance of "enhancing political loyalty" in the military in the new era and providing a firm "political guarantee" for building a strong military.
China's cabinet issued measures to support the high-quality development of venture capital, while it will encourage eligible VC institutions to issue corporate bonds and debt financing instruments and will support international institutions to set up a yuan fund in China.
China's securities regulator said they will strengthen overseas listings of firms that require a large scale of financing. It was also reported that the securities regulator issued measures to deepen STAR Market reform and serve tech innovation and "new production forces", while it is to improve stock/bond financing mechanism for STAR Market firms, as well as enrich ETF and ETF Options products on the STAR Market.

NOTABLE HEADLINES

ECB's Centeno said if inflation slows down interest rates will be reduced.
EU Commission proposed starting disciplinary budget steps against Belgium, France, Italy, Hungary, Malta, Poland and Slovakia over excessive deficits, while the EU proposal is to be approved by EU finance ministers in July and the deadline for the countries to cut their deficits will be set in November.
German Economy Ministry Habeck said they do not want to separate from China but added being too dependent on one country is a problem.

DATA RECAP