Service PMIs

Several Data Surprises

April 5, 2017

ADP reported a resurgence of private jobs in the United States, which they estimate climbed 263K in March. The Labor Department monthly report arrives Friday. But the U.S. non-manufacturing purchasing managers index compiled by the ISM fell back 2.4  points to 55.2, with business activity retreating 4.7 points to a reading of 58.9. Likewise, a […] More

Resilient Mood Ahead of U.S. Jobs Report

June 3, 2016

Ahead of the May U.S. Labor Department jobs report, which analyst believe could be distorted, there is an upbeat mood that the U.S. economy can handle a Fed tightening easily and that commodities aren’t going to hit another air pocket. The dollar is marking time, with no net change against the euro, yen, Swiss franc, […] More

Trump Takes Giant Step Closer to Being America’s 45th President

May 4, 2016

Ted Cruz dropped out of the Republican race after losing to Donald Trump by a landslide margin in the Indiana primary.  The Democratic race is not over, by contrast, as Sanders unexpectedly beat Clinton in Indiana.  While Clinton leads by a big margin in the delegate count, she will be drawing criticism from both the […] More

More PMI Surveys Reported and a Second Indian Central Bank Rate Cut

March 4, 2015

The Reserve Bank of India sliced its repo, reverse repo and standing facility rates by 25 basis points to 7.5%, 6.5%, and 8.5%.  Like the prior change on January 15, this easing of monetary policy was taken between scheduled policy reviews, creating a big element of surprise.  The latest action was taken in conjunction with […] More

Important Data to Digest

October 3, 2014

Friday sees the release of service-sector PMI surveys for many countries, Euroland retail sales, the U.S. monthly jobs report, and U.S. and Canadian trade figures.  Investors also continue to assess yesterday’s ECB press conference and the tense and fluid situation in Hong Kong. Markets remain closed in China for the National Holiday and are closed […] More

Lots of New Information to be Absorbed Today

July 3, 2014

The ECB’s refinancing rate, marginal lending rate, and deposit rate were left unchanged at 0.15%, 0.40% and -0.10%.  Draghi’s press conference at 12:30 GMT is awaited for clues on forward rate guidance and details on how bank lending might be stimulated. Because of Friday’s Independence Day holiday, the monthly U.S. labor force survey gets released […] More

Disappointments

June 5, 2013

Japanese Prime Minister Abe’s proposed deregulations lacked urgency and left investors uninspired. Australian GDP growth of 0.6% in the first quarter was slightly shy of expectations.  Investment fell 0.8%.  On-year GDP growth slowed 0.6 percentage points to 2.5%. Australia’s service-sector purchasing managers index fell 3.5 points to a 13-month low of 40.6.  That’s nine full […] More

Into Equities from Bonds and Gold

May 7, 2013

The Dow Jones Industrial Average, up 0.4%, broke above 15K for the first time. The German Dax gained 1.0% to an alltime high above 8K. Elsewhere in Europe, stocks have climbed 1.7% in Italy, 0.9% in Spain, 0.8% in France and 0.5% in Britain. In Japan, which was closed Monday and Friday for Golden Week […] More

Anxiety Up ahead of U.S. Election and Greek Parliamentary Vote on Bailout

November 5, 2012

Share prices in Europe have slumped 1.3% in Spain, 1.1% in Italy, 0.8% in France, 0.5% in Britain and 0.4% in Germany. Equities in the Pacific Rim earlier closed down 0.8% in Indonesia, 0.6% in South Korea, 0.5% in Japan and Hong Kong, 0.4% in Taiwan, 0.3% in Singapore, and 0.2% in China and New […] More

More PMI Reports and a Monster Australian Trade Deficit

October 3, 2012

The dollar has gained 0.5% against the kiwi and 0.3% versus the Australian dollar.  Other dollar pairs are pretty stable.  The greenback is unchanged against the euro and yuan, up 0.2% relative to the loonie, and 0.1% firmer against the yen, Swissie and sterling. Japan’s Nikkei fell 0.5%, and Chinese markets remained closed in continuing […] More

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