Real Vision: Finance & Investing US Manufacturing PMI, Eurozone Unemployment, and Grayscale ETF Approval: PALvatar Market Recap, July 2 2025
Jul 3, 2025
The podcast dives into a modest rebound in US manufacturing PMI and rising job openings, alongside Powell's remarks on tariffs. Eurozone unemployment sees an uptick, especially in Italy, reflecting economic challenges. The crypto landscape remains mixed, but the SEC's approval of Grayscale's multi-asset ETF generates optimism despite decreased institutional demand. Tune in for real-time insights on market movements and global macro trends.
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US Manufacturing PMI Insights
- US manufacturing PMI rose slightly to 49 but stayed below the growth threshold of 50, reflecting ongoing contraction.
- Rising job openings to 7.77 million support Fed Chair Powell's cautious stance on avoiding immediate rate cuts.
Eurozone Unemployment Update
- Eurozone unemployment rose from 6.2% to 6.3%, with Italy's rate unexpectedly increasing to 6.5%.
- These figures add pressure on central banks amid tariff uncertainties and upcoming US employment reports.
Crypto Market Contrasts
- Crypto markets show mixed signals with waning institutional demand as Bitcoin futures premium hits lowest since October 2023.
- However, expanding US M2 money supply and SEC approval for Grayscale's multi-asset spot ETF provide bullish catalysts.