Free Trial
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
- US flash PMIs were stronger than expected in June, with manufacturing rising to 51.7 (cons 51.0) from 51.3 and services rising to 55.1 (cons 54.0) from 54.8.
- It saw the composite nudge a tenth higher to 54.6 (cons 53.5) in contrast to a sweep of softer flash PMIs across the main Eurozone readings and the UK.
- However, whilst the headline readings improved, price components offered a partly offsetting dovish takeaway in contrast to the spike seen in yesterday's Philly Fed price components. From the S&P Global press release (full report here):
- “Selling price inflation cooled to a five-month low in June, though continued to run above pre-pandemic ten-year averages in both manufacturing and services to point to some stubbornness of price pressures.”
- “The rate of increase nevertheless fell to a five-month low in the services sector, where the rise was among the lowest seen over the past four years, and a six-month low in manufacturing.”
- “Input price inflation also slowed, having ticked higher in May, running below the average seen over the past year (albeit still above the pre-pandemic ten-year average) to hint at a modest cooling trend of cost growth. Rates of input cost inflation moderated in both manufacturing and services.”
- “Manufacturers commonly reported higher raw material costs related to shipping, with supplier delivery times also lengthening (albeit only marginally) for the first time in five months to hint at some supply chain pressures, while wage growth remained a major driver of higher costs in the service sector.”
Source: S&P Global
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok