Manufacturing PMIs
A Sign Emerges that Supply Constraints May Be Easing, but Investors Remain Bearish
July 1, 2022
Today’s been another fine day for the dollar. Thus far, the greenback shows gains of 1.6% against the Australian dollar, 1.5% versus the Swiss franc, 1.3% relative to the kiwi, 0.8% vis-a-vis sterling, 0.4% against the Canadian dollar but just 0.2% against the euro and zero percent against the Japanese yen and Chinese yuan. Equity […] More
Russia Escalates Military Conflict.. Biden’s State of the Union Address Tonight
March 1, 2022
The fighting in Ukraine was even more intense on Tuesday, as Russian forces try for a quick knockout of that country. Meantime, Western sanctions are paralyzing the Russian economy and financial system. As on Monday, equity markets attempted a rebound in the Pacific Rim, but stocks got clobbered in Europe. Markets closed up 1.2% in […] More
Opening Bell on 2022
January 3, 2022
Some financial markets such as those in Japan, China, Great Britain, Australia, and New Zealand remained closed on this first business day of 2022. But manufacturing sector purchasing managers surveys were reported for many economies, and some price data were released, too. In market activity, the dollar held steady against the Japanese yen and Chinese […] More
Evidence of Two-Speed Post-Pandemic Recovery and Some Encouraging News on the Inflation Front
July 1, 2021
The first day of July brought a slew of manufacturing purchasing manager surveys. Recovery from the Covid recession is developing faster than than the upswing from the Great Recession, but countries that have been forced to reimpose restrictions on social gathering are seeing their recoveries lag others. Currencies are also becoming more aligned with Covid-management […] More
June Opens on Hopeful Note
June 1, 2021
Manufacturing purchasing managers survey results reveal record growth in many cases, robust business optimism, but also inflationary pressure from demand outstripping supply. Euroland’s factory sector PMI was revised even higher to a record reading of 63.1. The Netherlands, Austria, Germany, Ireland, and Italy all scored above 62.0, and the lowest reading in the group — […] More
No Fooling: Today’s Economic Data Show Improvement but Covid Cases on the Rise Too
April 1, 2021
On this opening day of April, the dollar is unchanged against the yen, sterling and New Zealand dollar. The greenback has dipped 0.1% versus the euro and fallen 0.8% against the Turkish lira and 0.5% vis-a-vis the Mexican peso, but the dollar also has risen 0.3% against the Chinese yuan and Canadian dollar, 0.2% versus […] More
2021 Starting the Way 2020 Ended
January 4, 2021
The dollar fell 1.0% against the yuan, 0.7% versus the euro, Swiss franc and Mexican peso, and hit multi-year lows against several currencies. Share price futures point to a higher open in U.S. equity trading after the New Year’s Day holiday. Stock markets rose 2.1% in Indonesia, 2.5% in South Korea, 1.2% in Taiwan, and […] More
Fourth Quarter Starts with Lower Dollar, Firmer Equity Prices, and a Slew of Manufacturing PMI Surveys
October 1, 2020
The dollar fell overnight by 0.5% against the Swiss franc, Australian dollar, kiwi and sterling, by 0.4% versus the euro and by 0.2% relative to the Canadian dollar. A particularly sharp 1.5% drop came at the expense of the Mexican peso. The dollar is steady against the yen. U.S. Covid-19 cases increased 42.5k over the […] More
U.S. and Euro Area Manufacturing Conditions Improved Last Month
August 3, 2020
The U.S. manufacturing purchasing managers index of the Institute for Supply Management rose 1.6 points to a 16-month high of 54.2 in July. That performance was exceeded nonetheless by the IHS-compiled PMI for Euroland, which jumped 4.4 points to 51.8. Being each above 50, the data signify a faster U.S. improvement in business conditions during […] More
Stocks and Dollar Mostly Up Despite Concerns on Three Fronts
August 3, 2020
The relentless Covid-19 virus remains a top concern. The number of global cases jumped three quarters of a million this time last Friday to 18.2 million, and the U.S. share of that total is fast approaching 700k. Warnings have been made that renewed lockdowns may be necessary. News on vaccine development has been promising, but […] More
