Quick Overview

• The U.S. unemployment rate rose from 9.4% to 9.5% in June
  

• U.S. jobless claims were down 16,000 last week to 614,000.
  

• U.S. factory orders rose 1.2%.
  

• The unemployment rate in the EU rose from 8.7% to 8.9% in May
  

• The European Central Bank met and kept its interest rate unchanged at 1.0%.
  

• “More evidence of a developing El Niño event has emerged during the past fortnight, and computer forecasts show there’s very little chance of the development stalling or reversing,” Australia’s Bureau of Meteorology said in a report.
  

• India is expected to produce 15 million tonnes of sugar in the year to September, down 43% YoY. Demand for the world's top consumer and biggest producer after Brazil, was expected to be 22.5 million tonnes in 2008/09.
  

• Indonesia's coffee output is forecast to grow by 3% to 689,000 tonnes in 2009.