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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 the ISM manufacturing report, the employment component offered one of the weaker takes as it fell 3.3pts to 48.1 in June for the largest monthly decline since Sep’22. As with prices paid, the MNI Chicago PMI again offered a useful steer here, falling 2.9pts in June to 45.6.
- Following two sizeable increases, it remains above the 46.9 of March but is again below 50 in contraction territory.
- However, with services accounting for ~90% of private sector payrolls, Thursday’s ISM Services report will offer a more complete indicator coming just ahead of payrolls on Friday in a holiday-shortened data week.
- ISM services employment was already under pressure as of May at 49.2 for its lowest since Jun’22, although those subdued levels haven't prevented still strong payrolls growth.
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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