Australia is set to record its smallest wine-grape crush in over 25 years as weak demand and extreme weather curb output, the Australian Wine Association said. The association expects the 2026 wine-grape crush at 1.27 mln tonnes, down 19% YoY and roughly 25% below the 10-year average; annual wine value is forecast to fall 26% YoY to A$837 mln. Respondents to a national vintage survey reported late frosts, heatwaves and floods across multiple regions. The group flagged a fourth consecutive season

US June unadjusted new-vehicle inflation YoY 0.5%, prior 0.2%.

REUTERS TANKAN: Robust semiconductor demand kept Japanese manufacturing confidence relatively upbeat in July, with the manufacturing business conditions index steady at 13. Non-manufacturing confidence fell to 25 from 32 as Middle East tensions, a weak yen and rising interest rates raised costs. Manufacturers reported a semiconductor market recovery — including memory-related demand — and rapidly expanding orders for chip applications and AI-server products; electronic component orders broadly increased. A precision machinery firm said order volumes and values are at unprecedented levels and flagged capacity constraints. Services firms said Middle East tensions show early signs of easing but the situation remains unsettled. Looking ahead, manufacturers expect sentiment to stay stable and the October manufacturing index to nudge to 14, while non-manufacturing is forecast to remain at 25 as firms assess geopolitical and supply-chain risks.