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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 Dallas Fed manufacturing index saw a large miss in January, falling to -27.4 (cons -11.0) after a downward revised -10.4 (initial -9.3).
- The 17pt slide followed a 9.5pt increase, leaving it close to recent lows of -29.1 in May at levels prior to pandemic lows not seen since Jan’16 and 2008-09.
- It sees a full round of misses for regional Fed manufacturing indices in January following the Empire State (-43.7 vs cons -5.0), Philly Fed (-10.6 vs cons -6.5), Richmond Fed (-15 vs cons -8) and Kansas City (-9 vs cons -3).
- Weighed heavily by the ever-volatile Empire index slumping to -43.7, the average of the five surveys is -21.1 for the lowest since 2009 outside of Mar-May’20 pandemic months.
- The regional Fed measures are firmly in contrast to the flash US PMI which increased from 47.9 to 50.3 in January for its highest since Oct’22. Wednesday’s MNI Chicago PMI could help lend weight to which development looks more likely ahead of Thursday’s ISM manufacturing release.
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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