Quick Overview

• U.S. Mortgage applications dropped from 567.6 to 529.6 last week, hurt by the recent rise in mortgage rates.
  

• The U.S. Department of Energy said that:
  Supplies of crude oil were down 3.4 million barrels last week to 343.7 million barrels.
  Supplies of unleaded gasoline were down 1.0 million barrels
  Supplies of heating oil were up 1.2 million barrels.
  Over the past four weeks gasoline demand was up 0.9% YoY.
  

• YoY Retail sales in Japan were up 0.1% in May
  

• Mexican retail sales rose a lower-than-expected 3.3 percent in February even as a broader economic recovery picked up speed.
  
  

• Peru’s Congress overwhelmingly voted to approve a free trade pact with the United States early Wednesday, rejecting claims the treaty will hurt Peru's farmers by flooding the Andean nation with subsidized cotton, rice, corn and potatoes.