European markets settled lower after PMI releases outpaced expectations, while the dollar remained steady amid cautious risk sentiment.
Key moves
- France August flash services PMI 49.7 vs 48.5 expected, Germany 49.9 vs 48.8, UK 53.6 vs 51.8.
- BOJ poll signals a rate hike to at least 0.75% by year‑end.
- US 10‑year Treasury yield up 2 basis points to 4.316%.
- USD/JPY up 0.4% to 147.90; euro and pound remained flat against the dollar.
- S&P 500 futures down 0.3%.
- Gold fell 0.4% to $3,333.05; WTI crude rose 0.5% to $63.01; Bitcoin dropped 1.1% to $113,116.
- Walmart earnings miss sent U.S. stocks lower; Fed officials Bostic and Schmid reiterated a cautious stance on cuts.
Summary
Robust PMI readings reinforced resilience in euro‑area activity, keeping the ECB’s pause through summer in place, while equities lagged after U.S. earnings disappointment and risk‑off sentiment persisted.
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