UK Preliminary Services PMI improves to 52.4 in July vs. 52.5 expected

UK Services PMI rises to 52.4 in July, misses estimates.
Manufacturing PMI in the UK climbs to 51.8 in July.
GBP/USD keeps losses below 1.2900 after mixed UK business PMIs.

The seasonally adjusted S&P Global/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) improved from 50.9 in June to 51.8 in July. The market forecast was for 51.1.

Jul 24, 2024

United Kingdom S&P Global/CIPS Services PMI came in at 52.4 below forecasts (52.5) in July

EUR/USD: Likely to trade towards 1.0815 – UOB Group

The Euro (EUR) is likely to trade with a downward bias. Tentative buildup in momentum suggests downside risk; any further decline in EUR is unlikely to break clearly below 1.0815, UOB Group FX analysts Quek Ser Leang and Lee Sue Ann.