Service sector PMIs

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

Service Sector European PMIs Decent Enough

January 6, 2014

Overnight dollar changes limited to gains of 0.3% against the loonie and 0.2% versus the Aussie dollar and sterling.  The dollar also has dipped 0.1% against the yen and euro and is unchanged versus the kiwi, Swissie, and yuan. Some Asian stock markets tumbled sharply.  reopening after the extended New Year holiday, the Nikkei dropped […] More

PMIs Show a Further Convergence of the U.S. and Ezone Economies

July 3, 2013

The sum of the manufacturing and service-sector purchasing manager survey differentials fell for a fourth straight time in June and, at +6.0 points, was more than nine points narrower than last October’s peak width.  That’s the main takeaway from today’s service-sector figures. The U.S. service-sector PMI printed at 52.2, almost two points less than forecast, […] More

An Eroded U.S. Economic Advantage Versus the Ezone

May 6, 2013

The service-sector U.S. minus Ezone purchasing managers differential contracted 1.9 points to +6.1 in April, as the U.S. reading dropped by 1.3 points while its Euroland counterpart improved 0.6 points.  The manufacturing PMI had dropped by 0.5 points. The 10.1-point sum of those two differentials was 4.3points lower in April than its width just two […] More