Quick Overview

• GDP in the Euro area rose 0.7% QoQ and 2.1% YoY
  

• Canada’s Housing starts fell 4.3% from May's pace.
  

• Japan's core machinery orders rose 10.4% -- much faster than forecast
  

• The U.S. DOE said:
  Supplies of crude oil were down 5.9 million barrels to 293.9 million barrels.
  Supplies of gasoline were up 900,000 barrels
  Supplies of heating oil supplies were up 1.0 million barrels.
  Refinery use remained at 89.2%.
  Gasoline demand fell 2.1% YoY
  Distillate demand rose 1.3% YoY.
  
  
  
  
• Bill Bonner figures that currently, the U.S. money supply – as measured by M3 – is increasing at an annual rate of about 18%.