Source: Institute of Supply Management US Services PMI cooled to an expansion of 60.1% in June, after shedding 3.9 percentage points from a record 64% in May. SPY is down -0.64%, QQQ is up +0.10%, DXY is up +0.30% Business Activity Index was 60.4% in June, a 5.8% plunge from May, but representing expansion for the 13th month in a row.The Supplier Deliveries Index fell by … [Read more...] about Services Sector Up for the 13th Consecutive Month amid Slowdowns from May
Forex News
Euro Area, EU Retail Trade Rebound in May
Source: Eurostat Retail trade in both the euro area and the European Union rebounded in May, driven mainly by non-food items and automotive fuels. The seasonally adjusted volume of retail trade climbed 4.6% month-on-month in both the euro area in May. Retail trade fell 3.9% in the euro area and 3.6% in the EU in April.Year-on-year, retail trade climbed 9.0% in the euro … [Read more...] about Euro Area, EU Retail Trade Rebound in May
Eurozone Recoveries Pushes Composite Output Index to a 15-Year High
Source: IHS Markit The Eurozone economy continued its recovery, with the Composite Output Index hitting a 15-year year high of 59.5 in June, from 57.1 in May. EURUSD is up +0.01%, DAX is down -0.036%. The composite output in June was the fourth consecutive month the index has hit the 50.0 markThe jump in output index reflected growth in manufacturing output and an … [Read more...] about Eurozone Recoveries Pushes Composite Output Index to a 15-Year High
UK Service Sector Maintains Recovery but Slows from May’s Record High
Source: IHS Markit Service activity in the UK maintained a robust expansion in June, with the activity index hitting 62.4, slightly below a 24-year high of 62.9 in May. FTSE 100 is up +0.60%, GBPUSD is up +0.11%. The service sector in June was the second-highest since October 2013 and exceeded the month’s flash reading of 61.7The service index reading in the second … [Read more...] about UK Service Sector Maintains Recovery but Slows from May’s Record High
Oil Shows Less Signs of Slowing Down Above $75 bbl Amid OPEC+ Impasse
Source: Markets Insider Oil investors are holding its price above $75 a barrel as they adopt a wait-and-see attitude on OPEC+ intervention, solving output differences between the UAE and Saudi Arabia. CL1! Is up +0.19%. Fresh talks are due on Monday after OPEC+ members last week failed to reach an output agreement for 2021.Most OPEC+ members are pushing for a slow output … [Read more...] about Oil Shows Less Signs of Slowing Down Above $75 bbl Amid OPEC+ Impasse
