China Caixin PMI Summary Surveys completed by 650 SME's in China have indicated that China's smaller manufacturing and service providers remain in expansionary mode in April 2024 with all three data releases coming in as expected or higher than expected with readings >50 = Expansionary. Manufacturing - 51.4 Increased from 51.1 in Mar 2024 to 51.4 in Apr...
Both ISM Manufacturing Index and Non-Manufacturing Index vs. GDP YoY% for the US economy. ISM Manufacturing: Yellow ISM Non-Manufacturing: Blue GDP YoY%: Green/Red ISM Manufacturing currently signaling contraction with a level below 50 and the momentum seems lower. Non-Manufacturing Index is likely to follow the same path although currently signaling growth,...
Macro Monday 34 S&P PMI Composite Flash This S&P PMI “Flash” Composite is a very useful and relatively new data set made available since Nov 2013 that is particularly useful at providing an advance indication of the ISM Purchasing Managers Index (ISM PMI Index) which is released a week later. We are aware from prior Macro Mondays that the ISM PMI index is...
The New Zealand dollar has lost ground on Thursday. In the North American session, NZD/USD is trading at 0.6136, down 0.33%. On Friday, New Zealand releases the Manufacturing PMI. It was a busy day in the US, and this writer expected that retail sales would be the highlight of the day. In the end, it was the Producer Price Index which stole the show and gave the...
Macro Monday 35 Richmond Fed Manufacturing and Services Index (Released Tuesday 27th Feb 2024 @ 15:00 GMT or 9:00 CT) The Richmond Manufacturing and Services Indexes measures the conditions of each respective industry for the 5th Federal Reserve District which covers the District of Columbia (Washington DC), Maryland, North Carolina, South Carolina,...
ISM Services PMI Rep: 53.4% ✅ HIGHER THAN EXPECTED ✅ Exp: 51.7% Prev: 50.5% (revised down marginally from 50.6%) The reading for ISM Services PMI came in much higher than expected with services remaining in expansionary territory for Jan 2024 (>50 Level) Whilst ISM Manufacturing PMI came in at 49.1 on the 1st Feb (<50 level) and in contractionary territory,...
Macro Monday 31 U.S. Dallas Fed Manufacturing Index This Index is compiled from a monthly survey conducted by the Federal Reserve Bank of Dallas to assess the health of manufacturing activity in the state of Texas. It provides insight into factors such as production, employment, orders, and prices, offering a snapshot of economic conditions in the region. ...
US ISM Non-Manufacturing Index (ISM Services) Next Release: 5th December 2023 (released on third business day of each month) The U.S. Institute for Supply Management (ISM) Non-Manufacturing Index (“ISM Services”) encompasses a wide range of services across various industries. The index is designed to measure the economic activity and health of the services...
The New Zealand dollar is in positive territory on Wednesday. In the European session, NZD/USD is trading at 0.5926, up 0.26%. New Zealand's manufacturing sector has been in decline for seven consecutive months and little change is expected from the October PMI, which will be released on Friday. The market consensus stands at 45.0, compared to 45.3 in September,...
The euro is in negative territory on Wednesday after posting a losing session a day earlier. In the North American session, EUR/USD is trading at 1.0532, down 0.40%. The Federal Reserve makes its interest rate announcement later today and the markets have fully priced in rate pause, which would keep the benchmark rate at 5.25%-5.50%. Although the decision is...
The New Zealand dollar has started the week with strong gains. In the European session, NZD/USD is trading at 0.5919, up 0.55%. It was a miserable week for the News Zealand dollar, which fell 1.74%, its worst weekly performance since August. The driver for today's gains was the New Zealand Services PMI, which rose to 50.7 in September, up from 47. 7 in August....
The New Zealand dollar has started the week in positive territory. NZD/USD is trading at 0.5918 in the North American session, up 0.34%. New Zealand's Services PMI eased to 47.1 in August, down from 47.8 in July. The reading marked a third straight decline in activity and was the lowest level since January 2022. This comes on the heels of Friday's Manufacturing...
The Australian dollar continues to swing wildly this week. In Tuesday's European session, AUD/USD is trading at 0.6630, down 1.30%. On Monday, AUD/USD jumped 1% higher. There were no surprises from the Reserve Bank of Australia, which paused for a second straight month and maintained the cast rate at 4.10%. The money markets had priced in a pause but the...
The New Zealand dollar is lower on Tuesday. In the European session, NZD/USD is trading at 0.6189, down 0.35%. The Reserve Bank of New Zealand will be in the spotlight on Wednesday. The central bank holds its policy meeting and is expected to leave the official cash rate unchanged at 5.5%. The RBNZ has raised rates 12 consecutive times since August 2021 but has...
The British pound has bounced back on Wednesday and recorded sharp gains. In the European session, GBP/USD is trading at 1.2055, up 0.74%. Ask any British consumer, and they'll tell you that food prices have been going through the roof. The BRC provided data in that regard, stating that food inflation hit a record 13.3% in December, up from 12.4% in November. The...
Welcome to the first trading day of the New Year. Trading remains thin, as most markets are closed. In the European session, EUR/USD is trading at 1.0679, down 0.23%. I expect a quiet day for the euro. There are no US events on the schedule. German Manufacturing PMI improved to 47.1 in December, up from 46.2 in November and shy of the consensus of 47.4 points....
GBP/USD is down sharply today. In the North American session, GBP/USD is trading at 1.1150 down a massive 1.58%. The pound continues to exhibit sharp volatility, with swings of over 1% every day this week. The fallout surrounding Chancellor Kwarteng's ill-fated mini-budget just won't go away. After immense pressure, Kwarteng abolished the tax breaks for the top...
October 3 (Monday) German Manufacturing PMI UK Manufacturing PMI October 4 (Tuesday) US ISM Manufacturing PMI RBA Interest Rate Decision October 5 (Wednesday) US JOLTs Job Openings UK Composite PMI US ADP Employment Change October 6 (Thursday) US ISM Non-Manufacturing PMI Australia Trade Balance UK Construction PMI Eurozone Retail Sales Canada Ivey PMI October...