Traders have raised bets on the Bank of England, now fully pricing a 25bp hike before September. UK interest-rate futures imply about 50bp of tightening by December, up from roughly 40bp on Monday.

China's State Council approved the 15th Five‑Year plan to expand consumption, directing stronger fiscal‑financial support to boost domestic demand. The plan calls for increased government spending on social protection, coordinated use of central budget investment and local government special bonds to back eligible consumption infrastructure, and fuller deployment of fiscal‑financial cooperation funds. It urges financial institutions to expand consumer lending and step up credit to service‑sector firms, mandates optimization of interest‑subsidy programs for personal consumer loans and loans to service‑industry operators, and encourages insurers to develop protection products for priority consumption areas.

European natural gas prices climbed to their highest level since May 20.