Service sector PMIs

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

PMIs and an ECB Press Conference

April 3, 2014

Prior to the ECB announcement, the dollar was narrowly up by 0.3% against the kiwi, 0.2% versus sterling and 0.1% relative to the euro, yen, Aussie dollar and Chinese yuan.  The Swiss franc is steady, and the loonie has firmed 0.2% against its U.S. counterpart. China’s government unveiled some tax cuts and other steps to […] More

European PMIs Surpass Expectations But Ukraine Risks Still in Play

March 5, 2014

Russian President Putin has not stood down even though his orchestrated turmoil in neighboring Ukraine has hammered sentiment toward the Russian economy, exposing such to a possible slide into recession. The euro area’s service-sector and composite purchasing managers indices for February were revised higher, and the British result exceeded forecasts. Australia scored a much higher-than-projected […] More

Mixed Picture

February 5, 2014

Japan’s Nikkei rebounded 1.2% from a 4-month low on some better-than-expected Japanese earnings from Panasonic, Toyota and Sony.  But in a sign of continuing risk aversion, the dollar fell 0.5% against the yen. The greenback is unchanged against the euro, Swissie, Aussie dollar and yuan.  It shows gains of 0.3% versus sterling and 0.2% relative to […] More