Iran criticised Trump’s recent statements as offering no practical measures to curb energy-market volatility and said he had resorted to a 'psychological victory' approach. Tehran characterised Trump’s promise to 'completely defeat' Iran within two weeks as an attempt to link a vague political claim to economic variables to influence global oil prices, calling the remarks a psychological tool aimed at controlling oil-price swings and insulating his administration from election-related economic p

Goldman Sachs expects the World Cup will add about 40,000 jobs to US payrolls in June; after the tournament ends it forecasts US nonfarm payrolls will fall roughly 15,000 in August.

Comerica Bank SVP and chief economist Bill Adams expects U.S. May CPI YoY to top 4%, the highest in three years, driven by last month’s gasoline increase. Core CPI YoY is expected to stay relatively moderate, near 3%. Headline inflation in May is forecast to exceed average hourly earnings growth, further eroding consumers’ real purchasing power. PPI is also expected to post another sizeable rise, outpacing CPI, reflecting strong weights for petroleum products, metals and transportation costs in producer prices. The University of Michigan preliminary June consumer sentiment index is expected to rebound from May’s low, aided by a two-week decline in gasoline prices and recent equity gains.