Service sector PMIs

Service Sector Activity Slowed Last Month in Eurozone and U.S.

March 3, 2016

The U.S. purchasing managers index for non-manufacturing, which is compiled by the Institute of Supply Management and shown in the comparative table below, slipped 0.1 point to 53.4 in February.  Although representing just a marginally slower activity pace than in January, such was the fourth straight drop in the index, which stood at 58.3 four […] More

Stronger Euro, Weaker Yen

March 3, 2016

The dollar rose as high as JPY 114.28 overnight, its strongest level since February 15.  It’s off that high currently but still up 0.4% on balance.  At the same time, the U.S. currency shows overnight losses of 0.6% against the New Zealand and Australian dollars, 0.4% versus the euro, 0.3% relative to the Swiss franc […] More

ECB Delivers Less Support than Expected, Sending Euro Sharply Higher

December 3, 2015

ECB officials, who had strongly hinted that significant additional monetary policy relief is imminent, failed to meet the market’s expectations.  Largely in response, the dollar recorded an  overnight drop of 2.1% against the euro and 1.7% versus the Swiss franc.  Share prices in Europe are down 3.0% in France, 2.8% in Germany, 2.0% in Spain, […] More

Services PMI Spread Between U.S. and Eurozone Widened Sharply in July

August 5, 2015

The ISM reported a 4.3-point increase in the U.S. non-manufacturing purchasing managers index (PMI) to 60.3, highest since November.  Euroland’s services PMI, in contrast, fell 0.4 points last month to a two-month low.   The resulting PMI differential between the two economies therefore climbing to an 8-month high of 6.3.  This augmented U.S. advantage more than […] More

Only a Marginal Change in U.S.-Minus-Eurozone PMI Spreads

July 6, 2015

The U.S. non-manufacturing PMI rose 0.3 points to a two-month high of 56.0 in June.  The advance in the index was half as much as the increase in Euroland’s services PMI from 53.8 in May to a 49-month high of 54.4 in June.  The differential between those two indices narrowed by 0.3 points to 1.6, […] More

Weaker Australian Dollar and Slump Continues in Chinese Share Prices

July 3, 2015

The Australian dollar tumbled 1.5% against its U.S. counterpart.  Australian retail sales grew by a smaller-than-forecast 0.3% in May following a downtick of 0.1% in April and a 0.2% rise in March.  On-year growth in retail sales remained at 4.4%.  Better news arrived from the Australian service-sector purchasing managers index, which increased 1.6 points to […] More

Post-Easter Session Sees Equities and Aussie Dollar Rise

April 7, 2015

Following the advance in the Dow on Monday, the return of markets that had been closed for Easter saw share prices advance 2.2% in China, 1.3% in Japan, 0.8% in Hong Kong and Indonesia, 0.5% in Australia and 0.4% in Singapore, Taiwan and New Zealand.  European stocks have thus far advanced by 1.5% in Great […] More

Mixture of Market Signals as PMIs Provide Some Relief

January 6, 2015

Yesterday’s market volatility continued in some respects. Share prices fell overnight by 3.0% in Japan, 3.1% in India, 2.4% in Taiwan, 1.6% in Australia, 1.7% in South Korea, 1.4% in Singapore and 1.0% in Hong Kong. In U.S. Treasury futures, the 30-year yield slid another two basis points lower to 2.58%, and the 10-year yield […] More

Polarizing Purchasing Manager Trends

December 3, 2014

The November U.S. purchasing managers index jumped by a greater-than-forecast 2.2 points to 59.3, implying very robust non-manufacturing activity.  Sales leaped 4.4 points, while new business advanced by 2.3 points. Britain’s services PMI rebounded 2.4 points to 58.6 in November from October’s 16-month low of 58.6.  Based on an improved composite U.K. PMI of 57.6 […] More

Second Straight Decline in U.S. Non-manufacturing PMI Reading

November 5, 2014

Euroland’s service-sector PMI edged just 0.1 point lower in October.  In contrast, the U.S. non-manufacturing PMI fell 1.5 points and recorded a decline of 2.5 points between August and October.  The spread between the U.S. and Ezone measures contracted to 4.8 points from 6.2 points.  However, the differential between their manufacturing PMIs had widened by […] More