Service sector PMIs
PMIs Show a Further Convergence of the U.S. and Ezone Economies
July 3, 2013
The sum of the manufacturing and service-sector purchasing manager survey differentials fell for a fourth straight time in June and, at +6.0 points, was more than nine points narrower than last October’s peak width. That’s the main takeaway from today’s service-sector figures. The U.S. service-sector PMI printed at 52.2, almost two points less than forecast, […] More
An Eroded U.S. Economic Advantage Versus the Ezone
May 6, 2013
The service-sector U.S. minus Ezone purchasing managers differential contracted 1.9 points to +6.1 in April, as the U.S. reading dropped by 1.3 points while its Euroland counterpart improved 0.6 points. The manufacturing PMI had dropped by 0.5 points. The 10.1-point sum of those two differentials was 4.3points lower in April than its width just two […] More
Currencies Marking Time Ahead of Key Central Bank Meetings
April 3, 2013
The dollar is unchanged against the euro, Swiss franc, yuan and sterling. The greenback has risen 0.1% relative to the yen and Aussie dollar but dipped 0.2% versus the kiwi and by 0.1% against the loonie. The Japanese Nikkei rebounded from a 1.1% drop on Tuesday with an impressive 3.0% leap on Wednesday, as the […] More
Weaker Yen and Australian Dollar
February 5, 2013
The U.S. currency rose overnight by 1.1% against the yen and 0.5% versus the Aussie dollar. The greenback lost 0.3% to the euro, 0.2% to the loonie and 0.1% relative to the yuan and Swiss franc. The buck is 0.1% firmer against the kiwi and sterling. French President Hollande wants a coordinated regional exchange rate […] More
U.S. Service-Sector Purchasing Managers Survey Advantage Widened Last Month Versus Ezone
January 4, 2013
The U.S. and Ezone service-sector purchasing manager survey results for December were released today. Each improved significantly from November readings. The U.S. 56.1 reading was 1.4 points better than in November and above the 50 no change threshold and also above 55.0 for the first time in nine months. Analysts had mistakenly expected the index […] More
Busy Data Day
December 5, 2012
The dollar is narrowly mixed, with gains of 0.3% against the Swiss franc and yen and 0.2% versus the euro, no change relative to the Australian dollar, and slight losses of 0.2% against the kiwi and 0.1% versus the loonie, yuan and sterling. Hopes that the new Chinese government plans an urban infrastructure stimulus goosed […] More
Judgement Day in America
November 6, 2012
Today’s U.S. presidential election outcome is generally considered too close to call. Representing world opinion, the Economist and Financial Times endorsed Obama despite reservations about his first term. In a surprise to many analysts, the Reserve Bank of Australia declined to cut the 3.25% Official Cash Rate further. The Aussie dollar has climbed 0.7% against […] More
Mixed European Data… U.S. Market Closed
July 4, 2012
There will be no U.S. market trading today because of the Independence Day holiday. Retail sales in the euro area rose 0.6% in May following April’s 1.4% decline. Sales volume in April-May together was 1.0% below the first-quarter average. Sales in May, although stronger than assumed, were down 1.7% from a year earlier. Euroland’s composite […] More
Markets in a Risk-Averse State of Mind as Easter Break Nears
April 4, 2012
The Nikkei tumbled 2.3%, and the German Dax, Paris Cac, and British Ftse show drops of 1.8%, 1.2%, and 1.1% so far. Stocks fell 1.9% in Indonesia, 1.1% in Thailand, 1.0% in Singapore, 1.5% in South Korea, 0.5% in Malaysia, 0.6% in India and 0.4% in The Philippines. Investor caution was fanned by weakly subscribed […] More
U.S. Advantage in Service Sector Activity Trimmed
December 5, 2011
The U.S. Institute of Supply Management reported a non-manufacturing purchasing managers score of 52.0 in November, 1.6 points less than forecast and 0.9 points lower than October’s reading. In Euroland, by contrast, the service-sector PMI rose 1.1 points to 47.5. Such constituted an upward revision from a preliminary estimate of 47.2 and beat initial estimates […] More
