- The euro progresses slowly in front of the pound after the publication of the preliminary PMIs of the Eurozone and the United Kingdom.
- The business activity of the Eurozone exceeded expectations, promoted by the growth of the services sector.
- The markets expect details about the commercial agreement between the EU and the US and the decision of the ECB.
The euro is registering moderate profits on Thursday, after bouncing from 0.8640 on Wednesday, but is still caught within the weekly range, with investors waiting for details of a widely expected commercial agreement with the US and the result of the European Central Bank meeting.
The news that reports that the negotiators of the Eurozone and the US could be close to a commercial agreement have provided some more support to the earlier on Thursday. European Commission officials revealed that the agreement would include 15% tariffs on eurozone imports, with exemptions for cars, medical devices and alcoholic beverages.
The preliminary PMIs of the Eurozone for July exceed expectations
Meanwhile, the Eurozone data has been mixed, with the preliminary PMIs showing a stronger business activity, mainly in the services sector, however, the GFK consumer confidence survey of Germany confirms the soft impulse of the main economy of the block.
In the United Kingdom, on the contrary, preliminary PMI data has disappointed, with the growth of the services sector slowing down in expectations, while manufacturing activity improved but remains within levels of contraction.
The culminating point today is the MONCO monetary policy decision. It is widely expected that the bank maintains interest rates without changes, but the market will be analyzing the speech of President Lagarde in search of clues about the short -term policy of the bank.
Economic indicator
PMI Global S&P manufacturing
The manufacturing purchase managers index (PMI), published by Markit Economicscapture business conditions in the manufacturing sector. As the manufacturing sector dominates a large part of the total GDP, the PMI is an important indicator of the business conditions and the economic conditions of the Eurozone. A reading exceeding 50 points indicates expansion in economic activity, while a reading of less than 50 points implies a decrease in activity. Generally, a result superior to what is expected is bullish for the euro, while a result less than consensus is bassist.
Read more.
Last publication:
Jul 24, 2025 08:00 (PREL)
Frequency:
Monthly
Current:
49.8
Dear:
49.8
Previous:
49.5
Fountain:
S&P global
Economic indicator
Global S&P Services PMI
The Index of Purchase Managers (PMI) of the services sector that publishes Markit Economics Capture an overview of sales and employment. Although the services sector does not have as much weight in the economy as the manufacturing sector, this report is considered an indicator of economic activity in the Eurozone. A reading exceeding 50 points indicates expansion in economic activity, while a reading of less than 50 points implies a decrease in activity. Generally, a result superior to what is expected is bullish for the euro, while a result less than consensus is bassist.
Read more.
Last publication:
Jul 24, 2025 08:00 (PREL)
Frequency:
Monthly
Current:
51.2
Dear:
50.8
Previous:
50.5
Fountain:
S&P global
Economic indicator
PMI Global S&P manufacturing
The Manufacturing Purchase Managers Index (PMI), published monthly by S&P globalit is an advanced indicator that measures business activity in the manufacturing sector of the United Kingdom. The data is derived from surveys to senior executives of private sector companies. The responses of the survey reflect the change, if there is, in the current month compared to the previous month and can anticipate changing trends in official data series such as the Gross Domestic Product (GDP), industrial production, employment and inflation. The index varies between 0 and 100, with 50.0 levels that indicate that there are no changes compared to the previous month. A reading above 50 indicates that the manufacturing economy is expanding in general, which is an upward sign for sterling pound (GBP). Meanwhile, a reading below 50 points out that the activity among goods producers is generally decreasing, which is considered bassist for the GBP.
Read more.
Last publication:
Jul 24, 2025 08:30 (PREL)
Frequency:
Monthly
Current:
48.2
Dear:
48
Previous:
47.7
Fountain:
S&P global
Economic indicator
Global S&P Services PMI
The Purchase Managers Index (PMI) of Services, published monthly by S&P globalit is an advanced indicator that measures business activity in the United Kingdom services sector. The survey responses reflect the change, if there is, in the current month compared to the previous month and can anticipate changing trends in official data series such as the Gross Domestic Product (GDP), employment and inflation. The index varies between 0 and 100, with levels of 50.0 that indicate that there is no change compared to the previous month. A reading above 50 indicates that the service economy is expanding in general, which is an upward sign for sterling pound (GBP). Meanwhile, a reading below 50 indicates that the activity among service providers is generally decreasing, which is considered bassist for the GBP.
Read more.
Last publication:
Jul 24, 2025 08:30 (PREL)
Frequency:
Monthly
Current:
51.2
Dear:
53
Previous:
52.8
Fountain:
S&P global
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
