Service sector PMIs

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

Better Market Tone of Monday Still Holding

August 5, 2014

Service sector purchasing manager survey results for many economies and Ezone retail sales data are out.  There have also been announced interest rate decisions from central banks in India and Australia.  Investors now waiting for U.S. data and U.S. market leadership. The dollar has risen 0.3% against the loonie and Swiss franc, 0.2% versus the […] More

U.S. Claims Biggest PMI Advantage versus the Euro Area in 5-7 Months

June 4, 2014

In the May purchasing manager surveys, the United States commanded similar advantages versus Euroland in service-sector activity, +3.1 points, and manufacturing, +3.2 points.  The service sector spread was the widest since October, while the advantage in manufacturing was at a 5-month high.  The sum of the two spreads, +6.3 points constituted a half-year high.  Among […] More

Steady Dollar, Lower Share Prices

June 4, 2014

The dollar firmed 0.2% overnight against the Canadian and New Zealand dollars and 0.1% relative to the yen, euro and sterling.  The U.S. currency is unchanged against the Swiss franc and Chinese yuan and down 0.1% relative to the Aussie dollar. Share prices fell 1.0% in China, 0.6% in Australia and Hong Kong, 0.5% in […] More

U.S. Regains Service-Sector PMI Advantage over Ezone as Well

April 3, 2014

Data released on Tuesday showed the reemergence of a higher U.S. manufacturing purchasing managers index than found in the euro area, and investors learned today that the same pattern occurred in services.  Improvement in the U.S. non-manufacturing PMI of 1.5 paints to 53.1 reflects better weather and did not fully offset the deterioration between January […] More