Archive for February 3rd, 2017

Deeper Analysis

Little Change in U.S. Non-Mfg or Euroland Service Sector PMI Readings

February 3, 2017

The Institute of Supply Management’s U.S. non-manufacturing purchasing managers index dipped 0.1 of a point to 56.5 in January as business activity and new orders grew less rapidly than in December but jobs and prices expanded at a faster pace. Euroland’s service sector PMI was unchanged at 54.4. The national readings for France, Ireland, and […] More

Central Bank Watch

Bank of Russia Retains a Moderately Tight Stance

February 3, 2017

The Bank of Russia’s key policy interest rate was slashed by six percentage points during the first seven months of 2015 and by 50 basis points each last June and September, but it has stayed at 10.0% for the past 4-1/2 months and will probably remain at that level at least through mid-2017. This week’s […] More

New Overnight Developments Abroad - Daily Update

U.S. Labor Statistics, Service-Sector PMIs, and a Focus on Some Central Banks

February 3, 2017

The dollar rose modestly overnight ahead of the U.S. jobs data, gaining 0.4% against the kiwi, 0.3% versus the yen, Swissie and sterling, 0.2% relative to the euro, loonie and Australian dollar, and 0.1% against the Mexican peso. China reopened after a week celebrating the Lunar New Year. The dollar fell 0.2% against the yuan, […] More