BREAKING: Weak flash PMI from UK and Eurozone

UK Composite PMI (flash for June) came in 51.7 vs 53 exp. and 53 previously

• UK Services PMI (flash for June) came in 51.4 vs 53 exp. and 52.9 previously
• UK Manufacturing PMI (flash for June) came in 51.4 vs 51.1 exp. and 51.2 previously

Eurozone Composite flash PMI came in 50.8 vs 52.5 exp. and 52.2 previously

• Eurozone Services flash PMI came in 52.6 vs 53.4 exp. and 53.2 previously
• Eurozone Manufacturing flash PMI came in 45.6 vs 47.9 exp. and 47.3 previously

EURGBP erased some early loses, but only slightly, because Eurozone flash data showed unexpected economic weakness in June, while markets expected slightly improvement to continue. Data from the UK were better than expected only in the case of manufacturing, while services and composite benchmarks came in below economists' consensus.

Source: xStation5

Source: XTB Research, Markit Economics, Macrobond

Source: XTB Research, Markit Economics, Macrobond