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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.
CANADA DATA
- The S&P Global Canadian PMI showed a sharp deterioration in June, with services falling from 51.1 to 47.1 and the composite from 50.6 to 47.5.
- It leaves May as the single month with the composite above 50 since May 2023.
- The press release paints a weak picture (full here): "Canada’s service sector economy returned to contraction territory during June following modest growth in May. A lack of incoming new business weighed on sector performance, whilst confidence in the future fell to one of the lowest levels for two years."
- “Employment growth was however maintained, albeit led by services as manufacturing headcounts fell for the first time in five months.”
- “There was a noticeable slowdown in cost inflation to its lowest level since the start of 2021. Output prices subsequently rose only slightly, with inflation dropping to a 40-month low.”
- The survey offers a dovish counterpoint to the stronger than expected May CPI data although of course far greater focus will be on tomorrow’s jobs report before the June CPI report on Jul 16.
Source: S&P Global
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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