French manufacturing weakened further in June, final PMI shows

Investors are keeping a wary eye on Washington as the Senate prepares for its final vote on President Trump's massive spending bill. The uncertainty is causing the dollar and Dow futures to dip slightly—nothing dramatic yet, but a sign that markets are holding their breath until the political dust settles.

Inflation in the Eurozone just hit the European Central Bank's 2% target, ticking up slightly from May's 1.9%. This nudges economists toward betting the ECB will hit pause on interest rate hikes later this month—a potential breather for borrowers after a long stretch of increases.

The UK housing market took a hit in June with falling prices, while the London stock market had its strongest first half of the year since 2021—a mixed bag for the economy. Meanwhile, Bank of England governor Andrew Bailey cautioned that the UK, like other nations, is navigating economic "headwinds." He acknowledged Chancellor Rachel Reeves' clear fiscal plan but stressed the need for flexibility in managing the country's finances.

Asian stock markets are climbing today, while the US dollar takes a hit as lawmakers continue to debate a critical spending bill back in Washington. Meanwhile, gold prices are surging—likely a sign that investors are hedging their bets amid the uncertainty.

House prices took a noticeable dip last month—the sharpest monthly drop in more than two years, according to Nationwide. The slump might be tied to fewer buyers jumping into the market after April’s stamp duty changes, which could have cooled demand.