Beyond Dollar Dominance: Reserve Managers Prepare for a New Financial Era - FX News Group

• The World Travel & Tourism Council (WTTC) has raised concerns over the rollout of the EU Entry/Exit System, warning that potential border delays could deter international visitors. • Industry estimates suggest that 41 million trips and USD 45 billion in tourism spending are at risk if the system disrupts the travel experience.

• The European Central Bank released balance of payments data for the first quarter of 2026, highlighting the euro area's current account surpluses. • The region recorded its largest bilateral surpluses with the United Kingdom at €236 billion and Switzerland at €78 billion, both increasing from the previous year.

• EU-US goods trade reached a record €875 billion ($1.00 trillion) last year, with EU exports rising 7.7% to €580 billion and US exports increasing 2.2% to €295 billion. • This growth resulted in a significant EU goods trade surplus of nearly €285 billion, though the German Economic Institute (IW) warns these figures mask underlying economic strain.

• The European Central Bank (ECB) released data regarding the financial status of households and non-financial corporations in the euro area for the first quarter of 2026. • A notable increase in household pension entitlements was observed, driven largely by the Netherlands converting pension schemes from defined benefits to defined contributions.

• The European Central Bank (ECB) released bank interest rate statistics for the euro area for May 2026. • The report highlights data on new loans and deposits for corporations and households, derived from monetary financial institutions' balance sheet statistics.

• The EUR/USD pair maintained modest gains on Friday, though growth stalled as the US Dollar stabilized following a weaker-than-expected US jobs report. • Market activity remained subdued due to the closure of US financial markets for the Independence Day holiday.

• European Union trade with the United States has reached a record high, according to a recent study, despite ongoing tensions regarding tariffs. • While overall trade grew, most EU member states saw a decline in goods exports to the U.S., highlighting an uneven distribution of growth.

• BLS E-Services Limited (BLSe) has acquired a 100% stake in Atyati Technologies Private Limited, a Bengaluru-based AI banking technology firm. • The acquisition was completed as an all-cash transaction with a total purchase consideration of Rs 157 crores.

• Americans are seeking clarification on whether banks, the USPS, FedEx, and stock markets are operational on Friday, July 3. • The inquiry stems from the proximity of the date to the Independence Day holiday, which typically affects business hours and federal services.

• Asian stock markets rebounded on Friday, led by a significant surge of nearly 6% in South Korea's KOSPI index. • The rally was driven by weak U.S. economic data, which reduced bets on hawkish Federal Reserve policies, and lower oil prices resulting from eased geopolitical tensions.

• Moneycontrol Pro Panorama's July 3, 2026 edition highlights key economic trends, focusing on June GST collections and Indian IT earnings. • The report notes that while recent GST collections provide some financial relief, lingering economic concerns persist across the sector.