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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
- Within today's ISM Service report, the 18pt decline in new export orders to 43.7 was one of a few standout components.
- The index has been volatile in recent months and it’s still above the recent low of 38.4 in Nov, but aside from that and Apr/May’20 early in the pandemic we haven’t seen these levels since late 2009.
- The volatility in the series is notable but the low level builds on recent tepid prints in the manufacturing equivalent (47.6, -2.3pts), which unsurprisingly tends to have a better fit with global trade flows - see chart.
- These global trade flows have already cooled, judging by CPB world trade volumes at -1.5% Y/Y in Jan, and are worth watching ahead.
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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