Deeper Analysis
Sharp October Drop in U.S.-Minus-Ezone PMI Services Spread
November 7, 2016
The U.S. non-manufacturing purchasing managers index fell 2.3 points to 54.8 last month. Euroland’s service sector PMI increased 0.6 points to 52.8. The differential between those two indices thus narrowed 2.9 points to +2.0. In combination with a negative 1.6-point manufacturing PMI differential, half a point more advantageous to Euroland than in the prior month, […] More
Foreign Exchange Insights and Next Week
Morning After or Eve of Destruction
November 7, 2016
The winner of Tuesday’s U.S. presidential election remains very much in doubt. Final opinion polls on nationwide popular voter preferences give Clinton a far thinner lead than the 75% likelihood that London bookies had attached to British voters rejecting the proposal to leave the EU on the day of that referendum vote 4-1/2 months ago. One wonders […] More
New Overnight Developments Abroad - Daily Update
Some Guarded Relief as Stocks Rally around the World
November 7, 2016
Knowing that it won’t be over until it’s over, global stocks nonetheless rallied on yesterday’s FBI announcement that the investigation of emails found on Anthony Wiener’s computer did not change the original conclusion from July that Hillary Clinton did not commit any criminal acts warranting the Bureau to press charges against her. Share prices closed […] More
