RABOBANK analysts warn the preliminary US July PMI due tonight may not fully capture recent Middle East developments and commodity-market moves. They say the July survey was likely conducted over the past two weeks, so if many respondents answered earlier they may not have factored the latest Middle East tensions or this week’s oil-price rise, leaving the print potentially biased.

2026-07-24

RABOBANK analysts warn the preliminary US July PMI due tonight may not fully capture recent Middle East developments and commodity-market moves. They say the July survey was likely conducted over the past two weeks, so if many respondents answered earlier they may not have factored the latest Middle East tensions or this week’s oil-price rise, leaving the print potentially biased.