Deeper Analysis
U.S. Swings Dominate Recent Volatility in Service Sector PMI Spread
August 3, 2016
A see-saw pattern in the U.S. non-manufacturing PMI since April has caused the spread between such and the eurozone services purchasing managers index to exhibit trendless volatility. The differential equaled +2.6 in both April and July. But in between, the spread was -0.4 in April by +3.7 points in May. With above-50 readings in July […] More
Central Bank Watch
Bank of Thailand Leaves Key Interest Rate at 1.5%
August 3, 2016
Monetary officials in Thailand implemented eight reductions of 25 basis points between November 2011 and April 2015. As expected, they left the 1.5% rate level since April 2015 unchanged. A new statement released after the latest policy meeting does not change projected growth but attaches greater downside risk to the baseline forecast than existed at […] More
New Overnight Developments Abroad - Daily Update
Sub-$40 Oil Spreads Gloom to Other Markets
August 3, 2016
WTI oil got a little bounce after yesterday’s drop but remains below the critical $40 level at $39.85 per barrel. Rippling damage from the U.K. Brexit vote in June was evident in the U.K. services purchasing managers survey, which slumped to an 88-month low of 47.4 in July from 52.3 in June and 53.5 in […] More
