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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 Empire state manufacturing index improved by more than expected as it continued its recent volatile streak, bouncing from what was a far weaker than expected -32.9 in Jan to -5.8 in Feb (cons -18.0).
- Its volatility means we shouldn’t put too much weight on individual monthly moves. However, the broad downtrend remains consistent with other regional Fed surveys that continue to imply some downside risk to the ISM mfg survey, albeit less than a few months ago with the latter also moving lower.
- That being said, the 6-month ahead overall measure has been less prone to volatility and at +14.7 touched its highest level since May.
- Weaker labor details: Employment levels declined for the first time since early in the pandemic (index -6.6), and the average workweek shortened for a third consecutive month.
- Firmer price details: Both prices paid and prices received indexes pushed higher at 45 (+12pts) and 28.4 (+9.6pts) respectively but they remain near levels seen in 4Q22 that were otherwise the lowest since early 2021.
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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