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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
- The Philly Fed manufacturing index was clearly stronger than expected in April at 15.5 (cons 2.0) after 3.2 in Mar, for its highest since Apr’22.
- Supporting this strength was the six-month ahead version only dipping from 38.6 to 34.3 after jumping 31pts in March.
- Activity: New orders increased strongly from 5.4 to 12.2 (highest since May’22) and shipments increased from 11.4 to 19.1 (strongest since Aug’22).
- Prices: Prices paid jumped from a particularly low 3.7 to 23.0 (highest since Dec’23) although prices received were more contained as they only increased from 4.6 to 5.5.
- More striking was the 6-mths ahead measures of prices paid increasing from 38.0 to 54.5 (highest since Jun’22), although again, prices received fell from 37.1 to 34.4.
- Recall yesterday’s Beige Book noted a considerable weakening in recent months in ability to pass cost increases on to consumers. It also added that the perceived upside risks to near-term input and output prices were mostly confined to manufacturers.
- On an ISM-equivalent basis, it firms from 48.0 to 49.8 (highest since Aug'22) after the Empire survey firmed from 45.5 to 46.0 on Monday.
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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