EU S&P Global Composite PMI Final (Jun) 50.0 vs. Exp. 49.5 (Prev. 48.5, Low. 47.7, High. 49.5)

"An easing of downturn in eurozone service sector business activity during June is welcome news and, in conjunction with manufacturing growth, means the wider economy has stabilised after two months of falling output." "The near-unprecedented cooling of cost pressures will take  the heat out of some of the more hawkish views among ECB  policymakers, reducing the odds of further rate hikes in the near  future as rate setters await greater clarity of growth prospects  and, most importantly, how rapidly price pressures are fading."