Institutions comment on PMI data in the Eurozone: The data show that due to the impact of rising borrowing costs and rising prices, consumers cut spending, and the new business index of the service industry failed to make a profit for the first time in seven months.

U.S. stock futures edged higher, with S&P 500 futures up 0.14%, Nasdaq futures up 0.25%, and Dow futures up 0.08%.

The initial value of the PMI of the service industry in the euro zone in July recorded 51.1, a new low in six months; the initial value of the composite PMI in the euro zone in July recorded 48.9, a new low in eight months.

London Metal Exchange (LME): Aluminum inventories decreased by 900 tons, copper inventories increased by 325 tons, nickel inventories increased by 240 tons, lead inventories increased by 275 tons, tin inventories increased by 125 tons, and zinc inventories decreased by 1,550 tons.

Wheat prices rose 4.4% after a Russian drone attack on the Danube port.

The Czech crown fell 0.3% against the euro, touching its weakest level since early 2023.

The financial website Forexlive commented on the German PMI data: This is a very bad report. The manufacturing industry has shrunk sharply, and the PMI has dropped below 40. The services sector helped offset that, at least in part, but also fell short of market expectations. This means that the German economy will start to contract in the third quarter. The euro fell further in tandem with regional bond yields.

Institutions comment on German PMI data: German business activity shrank in July, increasing the possibility of a recession in the second half of this year.

Euro zone government bond yields fell after the release of the French PMI data, German 10-year and 2-year government bond yields fell 2 basis points, and French 10-year government bond yields fell 1.5 basis points to 2.97%.

Norman Liebke, economist at Hamburg Commerzbank: The sluggish business activity in France continued into July, and both the service sector and the manufacturing sector performed worse than expected, exacerbating concerns that the country may fall into recession.

The initial value of the service PMI in France in July recorded 47.4, a new low in 29 months; the initial value of the composite PMI in France in July recorded 46.6, a new low in 32 months.