- S&P Global Services PMI in the US falls modestly in June.
- The DXY dollar index is holding on to strong daily gains near 107.00.
Business activity in the US services sector expanded at a softer pace in June that in May, with the S&P Global services PMI falling to 52.7 points (final) from 53.4 in May. This figure was better than the preliminary estimate of 51.6.
Chris Williamson, chief economist at S&P Global Market Intelligence, noted that “June saw signs of a general weakening in the economy, with a drop in demand in both the manufacturing and service sectors“.
“While the survey data points to a stagnation in GDP at the end of the second quarter, the reduction in the rate of new orders and the drop in expectations of future production from companies point to a drop in economic activity as we move into the summerWilliamson added.
Source: Fx Street
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