EU S&P Global Services PMI Final (Apr) 47.6 vs. Exp. 47.4 (Prev. 50.2)
The final reading of the EU S&P Global Services PMI for April came in at 47.6, slightly above expectations of 47.4, but significantly below the previous month’s print of 50.2.
[MARKET UPDATE] USD/JPY falls from 156.12 to 155.70 over two minutes before retracing the entirety of the move. Does not look like intervention. Potentially a function of the recent moves in crude.
ECB Wage Tracker: 2026 annual 2.282% (prev. 2.270%)
EU S&P Global Services PMI Final (Apr) 47.6 vs. Exp. 47.4 (Prev. 50.2)
"Iraqi Prime Minister-designate Ali al-Zaidi held a telephone conversation with US Secretary of War Hegseth about bilateral relations in various fields", Tasnim reports
[MARKET UPDATE] Energy benchmarks continue to retreat, Brent below USD 107/bbl, following a handful of geopolitical updates. Adding to the gains in fixed benchmarks and equity futures.
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This suggests a contraction in the services sector, indicating economic weakness that could have implications for policy and future growth outlook.
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