France June INSEE business confidence index 94, below consensus 95; May reading revised down to 93 from 94.

Iran central bank governor Hemmati said frozen Iranian assets made "significant progress" toward release in recent talks and that relevant documents were signed during the round. He described frozen central bank assets as among the most complex issues in the negotiations. Under the arrangements, funds will be phased into use over the coming days subject to agreed conditions and procedures set by the Central Bank of Iran. On oil and petrochemicals, Hemmati said the sanctions-waiver mechanism under the Iran-US memorandum of understanding should already be activated and that the US Treasury’s Office of Foreign Assets Control has been agreed to implement the arrangements.

ECB President Lagarde said the bank does not need a stronger policy response to fallout from the Middle East conflict because inflation is expected to return to target in the medium term. Speaking to MEPs in Brussels, she said households do not expect price rises to persist, which supports the view that, with 'appropriate monetary policy action', inflation can fall from above 3% toward 2%. She added there are currently no signs of inflation expectations de-anchoring or second‑round effects that would require a stronger policy response.