EU Market Open: Europe primed for quiet open with newsflow light; USD/JPY remains on intervention watch

Asia-Pac stocks initially started the session with broad gains, but later reversed. Crude futures started the week on the back foot.Islamabad is the more likely option for the next round of US-Iran technical talks, with July 11th expected to be the date, Fox reported.OPEC+ agreed to raise output targets by an additional 188k bpd, in line with the group's plan to reverse output curbs.Ship-tracking data showed that at least 8 ships attempting to leave the Strait of Hormuz turned back, with the reasons unknown.European equity futures are indicative of a flat/slightly softer open with the Euro Stoxx 50 futures down 0.1% after cash closed +0.8% on Friday.Looking ahead, highlights include German Factory Orders (May), EU Retail Sales (May), US S&P Services/Composite PMI Final (Jun), and ISM Services PMI (Jun). Speakers include Fed's Waller, BoE's Mann, ECB's Schnabel, Lagarde and Lane.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk