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June 24th - The U.S. current account deficit widened to $226.8 billion in the first quarter, an increase of $5.8 billion, or 2.6%, from the revised $221.1 billion in the fourth quarter of last year. The current account deficit as a percentage of GDP rose slightly to 2.9% from 2.8%. The widening deficit was not due to trade. The goods trade deficit actually narrowed, with exports of goods and services jumping $50 billion to $1.38 trillion. The main drag came from primary income, which shifted from a surplus in the fourth quarter to a deficit in the first quarter. This account reflects the difference between the returns on foreign assets held by U.S. residents and the returns on U.S. assets held by foreign residents. This shift reveals a change in relative returns and rising costs of financing an increasingly unbalanced balance sheet. It is noteworthy that the annual revision was substantial. The fourth-quarter deficit was revised to -$221.1 billion from an initial -$190.7 billion, and the net international investment position was also revised by nearly $6 trillion.

On June 24th, Capital.com analyst Daniela Hathorn stated in a report that upcoming US data will determine whether the dollar's current rally has further room to grow. She said that if inflation and labor market data continue to support the narrative that interest rates will remain high for an extended period, the dollar should continue to be supported. If price pressures begin to ease more quickly, the market may begin to question whether current interest rate expectations have become too aggressive. PCE data (the Fed's preferred inflation gauge) and unemployment claims data will be released on Thursday, and the non-farm payrolls report will be released on July 2nd.

On June 24th, MillTech analyst Nick Wood stated in a report that British investors are eager to know who will be appointed Chancellor of the Exchequer, as current Chancellor Reeves is likely to be replaced following Starmer's resignation as Prime Minister this week. The Chancellor's selection may be just as important to market confidence as the new Prime Minister. Investors are eager to understand the economic policies of the new leadership team. Given the lack of other competitors, leading candidate Andy Burnham seems increasingly likely to be appointed as the new Prime Minister without any rivals.

A new survey released Tuesday by the Pew Research Center shows that global confidence in US President Donald Trump's leadership remains low, and views of the US as a reliable partner continue to decline. The survey, conducted between February and May 2026, covered 42,151 adults in 36 countries. On average, only 23% of adults said they believed Trump would make the right decisions in international affairs, while about two-thirds said they had little or no confidence. In 16 of the 24 countries with relevant trend data, confidence declined, and none showed improvement. Meanwhile, views of the US itself remain generally negative. In 36 countries, only 37% of people have a favorable view of the US, while 57% have a negative view.

According to Fox News, US President Trump said there is no need to rush to send inspectors into Iranian facilities.

On June 24, Futures News reported that Li Dingfu, former secretary of the Qinyuan County Committee of the Communist Party of China in Changzhi City, has turned himself in on suspicion of serious violations of discipline and law. He is currently under disciplinary review and supervisory investigation by the Provincial Commission for Discipline Inspection and the Provincial Supervisory Commission.

Market news: Oracle Health has partnered with Theator to apply artificial intelligence technology to the operating room.

European Central Bank: Unlike in the past, the impact is expected to accumulate gradually throughout the year.

European Central Bank: If the shock lasts longer, the cumulative drag on economic growth could be even greater.

European Central Bank: Oil prices are currently rising more than after the Ukraine conflict, but less than during the Gulf War in the 1990s.

The European Central Bank expects that the rise in oil prices caused by the war will reduce the eurozone's GDP growth by about 0.4 percentage points in the first year.

On June 24th, US Treasury Secretary Bessen praised Federal Reserve Chairman Warsh for removing forward guidance, while arguing that no one should be making dot plot forecasts. Regarding the economy, he expects real wage growth to return to its pre-April pace and anticipates accelerated economic growth for the remainder of the year without pushing up inflation. He emphasized the crucial importance of the dollar's dominance. He believes that after the Ukraine crisis, Russia will want to restore the dollar system, and the new Venezuelan is returning to it. The dollar can remain strong during periods of interest rate cuts, and the US is happy to take the right steps to maintain its strength. Regarding Iran, Bessen stated that the US Treasury will oversee the allocation of funds to Iran, which will initially be disbursed through Qatar. A significant portion will be used to purchase US food and medicine under Treasury oversight, and any funds received by Iran should belong to the Iranian people.

U.S. Treasury Secretary Bessenter: By the end of Trump's term, the deficit as a percentage of GDP could fall below 4%.

U.S. Treasury Secretary Bessenter: I'm not sure if we'll make progress on the deficit this year.

U.S. Treasury Secretary Bessenter believes that the U.S. economy and GDP can achieve growth of 3% or higher this year.

US Treasury Secretary Bessant: (Regarding the Federal Reserve and interest rate cuts) US President Trump has full confidence in Federal Reserve Chairman Warsh.