06:39 AM EDT, 07/17/2025 (MT Newswires) -- Commerzbank in its "European Sunrise" note of Thursday highlighted:

Markets: United States Treasuries recover from Federal Reserve Chair Jerome Powell headlines in New York session, retreat again in Asia. E-minis trade sideways in Asia after reversing earlier losses, Asian equities largely supported. EUR weaker at $1.162.

Fed: President Donald Trump denies intention to fire Powell after headlines that he floated the idea with Republican lawmakers. "I don't rule out anything, but I think it's highly unlikely, unless he has to leave for fraud."

Fed: Atlanta Federal Reserve President Raphael Bostic says he would currently wait on cutting rates as Fed may be at an inflection point for inflation. Federal Reserve Bank of New York President John a Williams says restrictive stance is "entirely appropriate" and allows time to analyze data as tariffs will have a greater impact on inflation in the coming months.

Trade: President Trump says "well over 150 countries" will get notice of payment, with tariffs of "probably 10 to 15%".. He is "very indifferent" about a deal with the European Union.

Middle East: Israeli Prime Minister Benjamin Netanyahu loses majority as Shas party quits government over military draft feud.

==EUROPE:

EU: Germany rejects EU budget, "the extensive expansion is not explainable" (government spokesman). FT quotes more opposition from EU ambassadors, saying "the proposal is likely to be ripped to pieces."