New Zealand May building consents YoY 20.6%; prior 52.7%.

ECB Governing Council member Wunsch said one rate hike may suffice if significant second-round effects do not materialize.

Investors will hear Fed chair KEVIN WARSH speak tonight but should not expect new forward guidance—he has signalled he wants to curtail its use and considers it of limited practical value. He may, however, discuss how he assesses the inf outlook and its drivers. Evercore ISI head of strategy and economics Krishna Guha said market attention will be on how Warsh frames the inf outlook, citing drivers such as falling oil, easing inf expectations, other commodities, a stronger dollar and potential AI-related cost pass-through.