Source: IHS Markit The Purchasing Managers’ Index, gauging the manufacturing activity in the UK, reached a three-month high of 58 in February, higher than 57.3 in the previous month. FTSE 100 is down -0.60%, GBPUSD is down -0.16%. The improvement in manufacturing activity happens even as the UK economy experiences higher domestic demand, amid easing global supply … [Read more...] about UK Manufacturing Output Accelerates in February as Supply Bottlenecks Wane
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Manufacturing Activity Grows at a Slower Pace in February, but Optimism Improves
Source: Federal Reserve Bank of Dallas The production index, gauging the manufacturing conditions in Texas, edged lower by two points from January to 14.5 in February. SPY is down -0.54%, DXY is up +0.24%. The new orders index rose by three points to 23.1 in February, with the growth rate of the orders index robust at 12.6.The state’s capacity utilization index held … [Read more...] about Manufacturing Activity Grows at a Slower Pace in February, but Optimism Improves
US Trade Deficit Jumps by $7.2 Billion in January
Source: Census Bureau The US had a total of $107.6 billion international trade deficit in January, up by $7.2 billion from December. SPY is down -1.03%, DXY is up +0.24%. Overall exports declined by $2.8 billion in January from December to $154.8 billion. Imports rose by $4.4 billion to $262.5 billion. The rise in deficit happens even as the advance wholesale … [Read more...] about US Trade Deficit Jumps by $7.2 Billion in January
Bank of Russia Hikes Rates to Its Highest Level in 20 Years, 20% to Protect Ruble
Source: Bloomberg The Bank of Russia takes immediate action to shield the nation’s 1.5 trillion economy from a series of stiff sanctions that have hurt the financial sector. RUB USD down -12.81% The bank more than doubled its core interest rate to 20%, the highest level in nearly two decades, and restricted the flow of capital.Policymakers also banned brokers from selling … [Read more...] about Bank of Russia Hikes Rates to Its Highest Level in 20 Years, 20% to Protect Ruble
US Consumer Sentiment Maintains a Decade-Low Level in February
Source: University of Michigan The Index of Consumer Sentiment in the US was recorded at 62.8 in February, down by 6.5% from January and 18.2% below the prior year. SPY is up +1.21%, DXY is down -0.37%. Consumers’ assessment of current economic conditions also worsened, with the index at 68.2 in February, 5.3% below last month. The index is now 20.9% below February … [Read more...] about US Consumer Sentiment Maintains a Decade-Low Level in February
