Service sector PMIs

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

Currencies Marking Time Ahead of Key Central Bank Meetings

April 3, 2013

The dollar is unchanged against the euro, Swiss franc, yuan and sterling.  The greenback has risen 0.1% relative to the yen and Aussie dollar but dipped 0.2% versus the kiwi and by 0.1% against the loonie. The Japanese Nikkei rebounded from a 1.1% drop on Tuesday with an impressive 3.0% leap on Wednesday, as the […] More

Weaker Yen and Australian Dollar

February 5, 2013

The U.S. currency rose overnight by 1.1% against the yen and 0.5% versus the Aussie dollar.  The greenback lost 0.3% to the euro, 0.2% to the loonie and 0.1% relative to the yuan and Swiss franc.  The buck is 0.1% firmer against the kiwi and sterling.  French President Hollande wants a coordinated regional exchange rate […] More

U.S. Service-Sector Purchasing Managers Survey Advantage Widened Last Month Versus Ezone

January 4, 2013

The U.S. and Ezone service-sector purchasing manager survey results for December were released today.  Each improved significantly from November readings. The U.S. 56.1 reading was 1.4 points better than in November and above the 50 no change threshold and also above 55.0 for the first time in nine months.  Analysts had mistakenly expected the index […] More

Busy Data Day

December 5, 2012

The dollar is narrowly mixed, with gains of 0.3% against the Swiss franc and yen and 0.2% versus the euro, no change relative to the Australian dollar, and slight losses of 0.2% against the kiwi and 0.1% versus the loonie, yuan and sterling. Hopes that the new Chinese government plans an urban infrastructure stimulus goosed […] More