USA — US BUSINESS ACTIVITY SURVEYS EXPECTED TO SHOW CONTINUED EXPANSION IN JULY

Upcoming US purchasing managers' index (PMI) surveys are expected to signal continued economic growth, potentially strengthening the case for further Federal Reserve interest rate hikes. Economists forecast Friday's S&P Global manufacturing PMI to rise to 54 and the services PMI to hit 51.5. Readings above 50 indicate expansion, and sustained strength could bolster arguments for the Fed to implement the single quarter-point rate increase currently priced in by markets for 2026.