US real personal consumption expenditures (PCE) MoM for July 0.0% vs 0.0% expected; prior 0.4%.

Sources said ECB policymakers are prepared to raise the policy rate at the September meeting, lifting it from 2.25% to 2.50% to offset economic fallout from the Iran conflict, but have no intention of signalling further tightening beyond September. Euro area inflation is near 3%, the conflict persists and growth shows resilience; the September hike is already built into the ECB’s June economic projections and is aimed at avoiding a repeat of the 2022 energy-driven inflation surge. Long-term inflation expectations remain anchored near the 2% target. Markets currently price one to two additional ECB hikes as possible.

Sources say BNP Paribas and KB Kookmin Bank are separately in talks to buy stakes in Vietnam's Techcombank, with potential deal value around $2bn.