The services PMI held around its level from May, inching down to 44.5 for June, preliminary data showed. Germany’s PMI slid to 44.3 from 46 in May. Though the Euro-zone economy seems to be stabilizing following a sharp contraction in the 1st quarter, return to actual growth may still be several quarters away. The ECB has lowered rates to a record low, and has announced that it will be willing to start buying covered bonds in an attempt to stimulate the economy.
Fundamental Updates
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