The Global PMI covering both services and manufacturing, produced by JP Morgan and IHS Markit in association with the ISM and IFPSM, rose in June to 54.2 from 54.0, points out Greg Gibbs, Analyst at Amplifying Global FX Capital. Key Quotes “A sign that the global economy retains moderate to solid momentum.” “However, it suggests that tariff fears have dampened the manufacturing outlook. There PMI series showed a divergence, with the services PMI rising for a second month in a row to 54.6, approaching its high in February, while the manufacturing PMI fell for a second month to 53.0, a low since July last year.” “We don’t pay for the component data, but the press release noted that the “pace of increase in new export business easing to near-stagnation” in the global manufacturing PMI (implying it was just above 50.0).” “The PMIs suggest that global policymakers will continue to voice alarm over US protectionist policy, noting risks that it may drag down global growth, especially if it escalates and damages business confidence.” “However, they are also likely to stick to their reasonably upbeat growth forecasts, considering that broader indicators, underpinned by services retain moderate to solid growth.” “As FX analysts, we might see more risks ahead for countries that rely more heavily on global goods trade. This might include Asian markets.” “The Eurozone is also more reliant on trade than other major economies. However, as we noted in our report last week, we would not be surprised to see the heat turned down on US, EU and NAFTA trade rhetoric, and a switch in gear in the US to retain its focus on trade and investment dealings with China.” “Considering some improvement in recent Eurozone economic data, this may lead to some strengthening in European currencies, including the EUR and GBP vs. Asian currencies.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Turkey: Erdogan to be sworn in as president today – TDS FX Street 4 years The Global PMI covering both services and manufacturing, produced by JP Morgan and IHS Markit in association with the ISM and IFPSM, rose in June to 54.2 from 54.0, points out Greg Gibbs, Analyst at Amplifying Global FX Capital. Key Quotes "A sign that the global economy retains moderate to solid momentum." "However, it suggests that tariff fears have dampened the manufacturing outlook. There PMI series showed a divergence, with the services PMI rising for a second month in a row to 54.6, approaching its high in February, while the manufacturing PMI fell for a second month to… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.