Service PMIs

U.S. Non-Manfacturing PMI and Ezone Services PMI

May 4, 2017

The U.S. non-manufacturing purchasing managers index rose 2.3 points to 57.5 in April, signifying a robust expansion whose rate of growth accelerated significantly that month. Production (up 3.5 to 62.4), orders (up 4.3 to 63.2) and prices (up 4.1 to 57.6) each expanded much more quickly than in March, while jobs continued to grow slowly. […] More

Euro Climbs against Dollar and Yen

May 4, 2017

Several themes were in play on Thursday. A contentious French presidential candidate between centrist Macron and the far-to-the-right Le Pen was considered won by Macron, who already leads in polls. A victory for him in this Sunday’s run-off election would prevent Frexit. Service sector purchasing manager survey results in April show Euroland growing at an […] More

Several Data Surprises

April 5, 2017

ADP reported a resurgence of private jobs in the United States, which they estimate climbed 263K in March. The Labor Department monthly report arrives Friday. But the U.S. non-manufacturing purchasing managers index compiled by the ISM fell back 2.4  points to 55.2, with business activity retreating 4.7 points to a reading of 58.9. Likewise, a […] More

Resilient Mood Ahead of U.S. Jobs Report

June 3, 2016

Ahead of the May U.S. Labor Department jobs report, which analyst believe could be distorted, there is an upbeat mood that the U.S. economy can handle a Fed tightening easily and that commodities aren’t going to hit another air pocket. The dollar is marking time, with no net change against the euro, yen, Swiss franc, […] More

Trump Takes Giant Step Closer to Being America’s 45th President

May 4, 2016

Ted Cruz dropped out of the Republican race after losing to Donald Trump by a landslide margin in the Indiana primary.  The Democratic race is not over, by contrast, as Sanders unexpectedly beat Clinton in Indiana.  While Clinton leads by a big margin in the delegate count, she will be drawing criticism from both the […] More

More PMI Surveys Reported and a Second Indian Central Bank Rate Cut

March 4, 2015

The Reserve Bank of India sliced its repo, reverse repo and standing facility rates by 25 basis points to 7.5%, 6.5%, and 8.5%.  Like the prior change on January 15, this easing of monetary policy was taken between scheduled policy reviews, creating a big element of surprise.  The latest action was taken in conjunction with […] More

Important Data to Digest

October 3, 2014

Friday sees the release of service-sector PMI surveys for many countries, Euroland retail sales, the U.S. monthly jobs report, and U.S. and Canadian trade figures.  Investors also continue to assess yesterday’s ECB press conference and the tense and fluid situation in Hong Kong. Markets remain closed in China for the National Holiday and are closed […] More

Lots of New Information to be Absorbed Today

July 3, 2014

The ECB’s refinancing rate, marginal lending rate, and deposit rate were left unchanged at 0.15%, 0.40% and -0.10%.  Draghi’s press conference at 12:30 GMT is awaited for clues on forward rate guidance and details on how bank lending might be stimulated. Because of Friday’s Independence Day holiday, the monthly U.S. labor force survey gets released […] More


June 5, 2013

Japanese Prime Minister Abe’s proposed deregulations lacked urgency and left investors uninspired. Australian GDP growth of 0.6% in the first quarter was slightly shy of expectations.  Investment fell 0.8%.  On-year GDP growth slowed 0.6 percentage points to 2.5%. Australia’s service-sector purchasing managers index fell 3.5 points to a 13-month low of 40.6.  That’s nine full […] More

Into Equities from Bonds and Gold

May 7, 2013

The Dow Jones Industrial Average, up 0.4%, broke above 15K for the first time. The German Dax gained 1.0% to an alltime high above 8K. Elsewhere in Europe, stocks have climbed 1.7% in Italy, 0.9% in Spain, 0.8% in France and 0.5% in Britain. In Japan, which was closed Monday and Friday for Golden Week […] More