- US and retail sales fell for a second straight month.
- U.S. business inventories rose 0.3% after an unrevised 0.2% decrease in April.
- Sales fell 0.2%, the biggest decline since July 2016, after being unchanged in April.
- U.S. Consumer prices were unchanged in June.
- Chances of a U.S. rate hike in December fell to 47% from 55%.
- All this points to tame inflation and subdued expectations of strong economic growth in the second quarter.
- CAD derived extra support after the Bank of Canada raised its overnight rate target by 25 bp to 0.75%.
- Drill, baby, drill. Baker Hughes says the worldwide rig count for June was 2,041, up 106 from May and up 634 from June 2016
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