Service sector PMIs

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

Judgement Day in America

November 6, 2012

Today’s U.S. presidential election outcome is generally considered too close to call.  Representing world opinion, the Economist and Financial Times endorsed Obama despite reservations about his first term. In a surprise to many analysts, the Reserve Bank of Australia declined to cut the 3.25% Official Cash Rate further.  The Aussie dollar has climbed 0.7% against […] More

Mixed European Data… U.S. Market Closed

July 4, 2012

There will be no U.S. market trading today because of the Independence Day holiday. Retail sales in the euro area rose 0.6% in May following April’s 1.4% decline.  Sales volume in April-May together was 1.0% below the first-quarter average.  Sales in May, although stronger than assumed, were down 1.7% from a year earlier. Euroland’s composite […] More

Markets in a Risk-Averse State of Mind as Easter Break Nears

April 4, 2012

The Nikkei tumbled 2.3%, and the German Dax, Paris Cac, and British Ftse show drops of 1.8%, 1.2%, and 1.1% so far.  Stocks fell 1.9% in Indonesia, 1.1% in Thailand, 1.0% in Singapore, 1.5% in South Korea, 0.5% in Malaysia, 0.6% in India and 0.4% in The Philippines. Investor caution was fanned by weakly subscribed […] More