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BUND TECHS

(M2) Resistance Remains Intact

FOREX

USD Weaker; NZD Outperforms

GOLD

Building On Last Week's Gains

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US DATA
MNI (London)

MNI CHICAGO BUSINESS BAROMETER 73.4 JUL VS 66.1 JUN

MNI CHICAGO BUSINESS BAROMETER AT TWO-MONTH HIGH

MNI CHICAGO: PRODUCTION SHOWED LARGEST M/M INCREASE IN JUL

MNI CHICAGO: SUPPLIER DELIVERIES AT HIGHEST SINCE MAR 1974

  • The Chicago Business Barometer jumped to 73.4 in Jul, coming in stronger than markets expected (BBG: 63.0).
  • The index now stands at a two-month high and shows the second highest pandemic-era reading.
  • Jul's uptick was led by a sharp increase of Production (68.8), followed by New Orders (72.2), Order Backlogs (70.0) and Employment (47.5).
  • Supplier Deliveries were unchanged in Jul at 86.5, still showing the highest level since Mar 1974.
  • Anecdotal evidence showed that firms planned to hire new employees, but staff availability remains subdued.
  • Factory gate prices eased slightly in Jul to 91.6, although firms noted higher prices for materials and freight.
  • Inventories rose to 42.6 in July, but remained in contraction since April.
  • The majority (48.8%) of respondents expect business activity growth to be between 5% and 10% in the second half of the year.

MNI London Bureau | +44 203-865-3814 | irene.prihoda@marketnews.com

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