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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
- Today’s Richmond Fed mfg index surprisingly fell to -5 (cons +1) in November after +3, back to its lowest since August after the largest monthly fall in eighteen months.
- It completes the regional Fed manufacturing surveys for this month, a majority of which have improved from October (Empire from -4.6 to +9.1, Philly from -9 to -5.9, Kansas from -8 to -2) although Dallas was little changed (-19.2 to -19.9).
- Indeed, the unweighted average of the five has increased from -7.6 to -4.7 for its highest reading since Jul 2022.
- Combined with the S&P Global PMI only dipping slightly from 50.0 to 49.4 in its preliminary Nov release, these manufacturing surveys imply upside bias to the ISM survey after its surprise 2.3pt drop to 46.7 back in October [see chart]. The MNI Chicago PMI on Thursday will be watched for further clues ahead of ISM on Friday.
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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