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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 Richmond Fed manufacturing index was as expected in October at +3 for only a modest drop from +5 in Sept.
- From the press release: “Although the level of the composite index was not very high, it was positive for only the second month since the spring of 2022.” In itself it's an interesting print considering Richmond Fed's Barkin has recently said business contacts say activity is slowing faster than data portray.
- Its three component indexes were mixed: shipments increased from 7 to 9 (+2pts), new orders fell from 3 to -4 (-7pts) and employment was steady at 7 (unch).
- Further details show mixed inflationary pressures: trends in both prices paid and prices received have continued to see solid moderation and are close to pre-pandemic levels (something seen in the US PMI released shortly beforehand) but the wage measure has firmed off post-pandemic lows from earlier in the year – see chart.
Source: Richmond Fed
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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