purchasing manager indices

Trade War Fear Takes Center Stage

March 22, 2018

While Fed Chairman Jay Powell downplayed the risk to growth from trade restraints at least insofar as any influence on U.S. monetary policy is concerned, global financial markets are taking the danger of a trade war very seriously, particularly as President Trump seems poised to slap $50 billion of tariffs on imported Chinese goods. There’s […] More

Stocks Up in Europe after Drop in Asia… Dollar and Sterling Off, Too

August 3, 2017

The dollar fell 0.5% against the yen, 0.2% relative to the euro and Swiss franc and 0.1% versus the kiwi and yuan. Sterling’s even more weak, dropping 0.6% against the dollar as Bank of England Governor Carney returned to a theme that Brexit will hit the economy for a long time to come. Share prices […] More

A One-Two Punch from China and Greece

August 21, 2015

The dollar’s retreat was extended overnight, hitting a low of 1.1312 per euro.  Against Thursday closing levels, the U.S. currency lost 0.6% against the kiwi and yen, 0.5% versus the euro, and 0.4% vis-a-vis the Swiss franc.  The dollar, in contrast, is unchanged relative to the yuan and Australian dollar and shows gains of 0.4% […] More

Spreading Hope over Greece Lifts Equities

June 23, 2015

Negotiators claim to have reached an agreement on the main principles regarding a Greek debt accord and express hope that a full deal can be worked out this week. Share prices are up 3.9% in Greece, 1.0% in Germany, 1.2% in France, 0.9% in Spain and Italy, 1.1% in Switzerland but just 0.1% in Britain. […] More

Bad News and Good News

August 22, 2013

The bad news came first.  Although FOMC minutes failed to embody an overwhelming message that QE tapering will begin in September with some members concerned about slippage in certain economic trends, an expression of broad support for the concept of tapering lifted long-term interest rates further and weighed on stocks in the Pacific Rim.  The […] More

Chinese and Ezone Flash PMI Surveys Highlight Weakness

April 23, 2013

HSBC reported a 1.1 decline in China’s manufacturing purchasing managers index.  At 50.5 in April, the second quarter began with just marginal growth and reversed an encouraging improvement in March. Preliminary readings on the German, French and Ezone composite, manufacturing and service-sector PMI surveys also were released overnight, and they suggest that the region’s downturn […] More

Share Prices Wobble on Growth Concerns

August 23, 2012

Equities in Europe have fallen so far by 1.8% in Spain, 1.0% in France, and 0.8% in Germany.  U.S. futures point to a decline as well.  Earlier in Asia, stock markets rose 1.2% in Hong Kong, 0.4% in South Korea and 0.3% in China. Preliminary purchasing manager surveys were reported for China, Euroland, Germany, France […] More

U.S. Minus Euroland Manufacturing PMI Spread Narrowed Last Month

March 1, 2011

Euroland’s purchasing managers index advanced 1.7 points to 59.0 last month.  The rise was nearly three times larger than the 0.6 point improvement of the U.S. manufacturing PMI index, and trimmed the differential between the two data series to a U.S. advantage of 2.4 points from 3.5 points in January.  The U.K. manufacturing PMI reading […] More

Some Robust European Data Sends Stocks Up and Dollar Down

July 22, 2010

The dollar lost 1.3% against the Australian dollar, 1.2% versus the kiwi, 1.0% relative to the Swiss franc, 0.9% against the euro, 0.8% vis-a-vis the Canadian dollar and sterling and 0.3% against the yen. Following Fed Chairman Bernanke’s somber testimony yesterday, stocks were mixed in the Pacific Basin, with looses of 0.9% in Australia, 0.8% […] More

Bank of England Minutes Contain a Surprise Dissenting Vote

June 23, 2010

The dollar fell 0.7% against sterling and by 0.8% against the kiwi.  Other dollar moves were small: up 0.3% against the loonie but down 0.2% against the yen and 0.1% relative to the euro and Aussie dollar.  The Swiss franc is steady.  So is the yuan after climbing 0.4% on Monday and retreating 0.2% on […] More