Eurozone
The euro is gaining against the yen and pound but weakening versus the U.S. dollar. Preliminary June business activity data show the services PMI rising from 49.7 to 50.0, while manufacturing stagnates at 49.4. The composite indicator reached 50.2, slightly below forecasts. Germany’s numbers improved, with the composite index moving into expansion territory, but persistent weakness in France is offsetting regional gains. Experts note overall stability in the bloc, but positive signals from German business are being dampened by the French downturn.
United Kingdom
The pound is climbing against the yen but losing ground to the euro and dollar. June flash PMIs showed services rising to a three-month high at 51.3, beating forecasts, while manufacturing reached 47.7—the highest since January, though still in contraction for the ninth straight month. The composite index moved up to 50.7. Recovery remains slow, with many businesses hesitant to hire amid economic uncertainty.
Japan
The yen is falling against the euro, pound, and dollar. June PMIs signal improvement: the services index climbed to 51.5, manufacturing returned to growth at 50.4, and the composite rose to 51.4—well above expectations. This marks the first manufacturing expansion in 11 months, though new export orders remain weak. With Japan importing over 80% of its energy, fears of Hormuz Strait closure weigh heavily on the currency.
Australia
The Australian dollar is weakening versus the euro and pound, with mixed performance against the yen and U.S. dollar. Preliminary June PMIs show manufacturing holding at 51.0, services improving to 51.3, and the composite index at 51.2. The national economy is steadily recovering despite global instability.
Oil
Oil prices initially surged to six-month highs before entering a correction phase. U.S. intervention in the Middle East has significantly increased the risk of supply disruptions. Should Iran block the Strait of Hormuz or attacks on tankers in the Red Sea intensify, Goldman Sachs analysts see oil potentially spiking to $100–$110 per barrel. Still, most observers expect any closure to be brief, as a prolonged halt is not in Iran’s interest as an OPEC heavyweight.