Eurozone Preliminary Manufacturing PMI edges higher to 49.8 in July as expected

• Eurozone Manufacturing PMI increased in July, meeting 49.8 forecast.
• Bloc’s Services PMI rose to 51.2 in July vs. the estimated 50.8 print.
• EUR/USD stays defensive near 1.1765 after German, Eurozone PMI data.           

The Eurozone manufacturing sector remained in contraction, while the services sector expanded in July, according to data from the HCOB's latest Purchasing Managers' Index (PMI) Survey, published on Thursday.

The Eurozone Manufacturing Purchasing Managers Index (PMI) rose to 49.8 in July, from 49.5 reported in June, matching the market consensus of 49.8.

The bloc’s Services PMI rose to 51.2 in July from 50.5 in June. The data came in line with the expected 50.8 reading.