June’s flash Purchasing Managers’ Indices (PMIs) showed mixed signals for major economies, with the UK services sector contracting more than expected. According to FX Street, the UK’s S&P Global Services PMI dropped to 48.7 in June from 49.3 in May, falling short of the 50.0 estimate, indicating continued weakness in the sector.
Meanwhile, US futures declined notably during European trading hours on Tuesday. Dow Jones futures fell 0.72% to near 51,750, S&P 500 futures dropped 1.4% to around 7,430, and Nasdaq 100 futures slid 2.29% to near 29,950, reflecting investor caution amid mixed economic data, FX Street reported.
Danske Bank noted that global equities advanced overall, driven by gains in most S&P 500 sectors and small caps, despite pressure on US consumer and communication services stocks. For Japanese investors, these developments highlight the ongoing sensitivity of global markets to economic data and sector-specific dynamics, which could influence FX and equity flows.