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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 June Philadelphia Fed Nonmanufacturing Business Outlook survey showed an improvement in activity, employment and sentiment among nonmanufacturers, alongside mixed price pressures.
- The Philly Fed nonmanufacturing current General Activity index (comparing current activity vs the prior month) rose by 3.5 points to 2.9, the first positive reading of 2024 - but the standout in the report was the 6-month forward expectations index jumping over 38 points to 44.7, which was the highest since November 2021.
- Inflation dynamics were slightly divergent: prices paid fell to a 12-month low 24.4 (basically back to January 2021 levels), whereas prices received jumped over 11 points to a 13-month high 16.6.
- This contrasts with the region's June manufacturing survey which surprisingly fell to its weakest level since January, with nonmanufacturers also indicating much less pronounced price pressures.
- On the employment front, both the part-time and full time indices jumped, but wages and benefits pulled back to levels last seen in early 2021.
- New Orders rose to a 17-month high 6.7, with sales/revenues also improving.
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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