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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
US DATA
- The overall Dallas Fed manufacturing index was as expected in June, rising to -15.1 (cons -15.0) from -19.4 in May.
- The production index suggested activity was essentially flat as it only ticked up from -2.8 to +0.7.
- Layoffs outstrip hiring (from the press release, here): “Labor market measures suggested slight employment declines and shorter workweeks this month. The employment index posted a second negative reading in a row but ticked up to -2.9. Seventeen percent of firms noted net hiring, while 20 percent noted net layoffs.”
- However, upward pressure in received prices: “Upward pressure on prices and wages continued in June. The wages and benefits index edged up three points to 24.3, a reading slightly higher than average. The raw materials prices index was mostly unchanged at 21.5, still below its historical average, while the finished goods prices index shot up 10 points to 14.4.”
- This pressure in finished goods is notable after a similar development in last week’s Philly Fed survey (Dallas highest since Feb’23, Philly highest since Jul’23) although it wasn’t reflected in latest Empire or flash PMI data.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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