EUR erases some gains after weak PMI reading from Spain

Spanish HCOB Manufacturing PMI Jun: 52.3 (est 52.9; prev 54.0)

Key findings:

Production and new orders rise again, but at slower rates. Correspondingly, business expectations have fallen to their lowest level in 2024 and below the historical average.
Weaker growth in employment as confidence softens.
Input cost inflation accelerates to highest since November 2022.
Full document here.

Source: xStation

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Warsh's Address to Congress: Zero Tolerance for Inflation, But No Change in Interest Rates?

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