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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
Today's release for the Chicago Fed National Activity Index shows US economic activity slightly below historical trend (a zero value is associated with growth at its historical trend).
- At –0.05 in October, down from an upwardly revised +0.17 in September, this is the first month in 4 that activity has been below trend and missed the survey expectation of 0.00.
- The 3-month moving average slipped to +0.09 from +0.19 prior, while the CFNAI Diffusion index likewise dipped to +0.13 from +0.25. 3 of the 4 main index categories were negative and worse than December, with 45 of 85 individual indicators positive and 40 negative; 33 improved M/M while 51 deteriorated (1 was unchanged).
- The 3 main categories that were negative were: production (with ind. production declining M/M); sales/orders/inventories; employment (with the unemp rate ticking up 0.2pp in Oct); and personal consumption/housing.
- The CFNAI isn't a market-moving data point as it is based on data that has previously been released, but serves as a useful summary of growth drivers.
Source: Chicago Fed
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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