Russia services PMI rises to 49 in July

Data showed Russia’s services purchasing managers’ index rose to 49 points in July, the PMI study published on Aug 5, 2026 reported. The reading remains below the 50 threshold that separates expansion from contraction, and market reaction on the ruble was limited immediately following the release.

New orders fall fourth month

Data showed new business declined for a fourth consecutive month at the start of the third quarter, the study said. That extended drop in new orders contrasted with the modest uptick in the headline services PMI, suggesting firms saw weaker demand even as activity stabilized around the contraction boundary.

The divergence between the headline PMI and new orders matters for currency traders: if demand continues to soften, it could weigh on growth expectations and reduce inflow support for the ruble. Conversely, a steadying services sector without renewed order weakness would remove one near-term downside risk for the currency.

Market participants will watch the Moscow FX session on Aug 6, 2026 for any follow-through in the ruble and for fresh domestic data later in the week. Traders may reprice risk if upcoming releases confirm either a return to expansion or a deeper demand slump.