service sector purchasing manager indices

Ahead of the Yellen Speech

March 3, 2017

A slew of Fed officials have put a March interest rate hike firmly in play. Later today, both Vice Chair Fisher and Chair Yellen speak. There have been times before when the rest of the FOMC rhetorically seemed ahead of Yellen in itching to raise rates, but that seems unlikely in this instance. In fact, […] More

Fasten Your Seatbelts

January 6, 2016

Having gotten off to a bad start in 2016, global financial markets were desperately in need of some good economic data and other news.  The service sector purchasing managers surveys for December failed to deliver, but that’s only one element of today’s multiple doses of disturbing news. The Chinese yuan was fixed significantly lower against […] More

Commodity-Sensitive Currencies Firmer this Monday

October 5, 2015

The U.S. dollar declined overnight by 1.0%, 0.6% and 0.5% against the New Zealand, Australian and Canadian dollars.  The dollar, in contrast firmed 0.3% against the Swiss franc, 0.2% versus the yen and 0.1% relative to the euro.  Sterling and the yuan are unchanged. Following Friday’s very volatile post-jobs swings in U.S. equities, share prices […] More

Smallest U.S. Service Sector Advantage against Euroland since July 2011

October 3, 2013

The U.S. non-manufacturing purchasing managers index fell 4.2 points to a 3-month low and was three points weaker than forecast for the month of September.  The euro area PMI, in contrast, climbed 1.5 points to a 27-month high of 52.2 and surpassed original market expectations by a full point.  As a result of these divergences, […] More

U.S., Euro Area and British Service-Sector Purchasing Managers Survey Results

March 5, 2013

The U.S.-minus-Ezone service-sector PMI differential widened 1.5 points to a 3-month high of 8.1 points in February.  The U.S. index climbed 0.8 points to a 12-month high of 56.0, whereas Euroland’s PMI fell 0.7 points to a 2-month low of 47.9.  The latter has been below the 50 expansion-or-contraction line of demarcation for thirteen straight […] More

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