S&P Global Manufacturing PMI final 49.8 versus 49.5 preliminary Details Summary: Operating conditions in the U.S. goods-producing sector worsened slightly in July, marking the first contraction of 2025. The headline PMI fell to 49.8, down sharply from June’s 52.9, ending a six-month run of growth. Key takeaways: Demand & Orders: Market demand stagnated. New orders … Read more
Prior month 60.7 Current conditions 68.0 vs 58.6 preliminary Expectations 57.7 vs 66.8 preliminary Inflation expectations One year inflation expectations 4.5% vs 4.4% preliminary Five year inflation expectations 3.4% vs 3.6% preliminary The data has been soft across the board today, including this final UMich report. The market is now pricing 59 bps of easing … Read more
Prior month 49.0 ISM manufacturing index 48.0 versus 49.5 estimate Prices paid 64.8 versus 70.0 estimate Employment 43.4 versus 45.0 last month. New orders 47.1 versus 46.4 last month production 51.4 versus 50.3 last month. Supplier deliveries 49.3 versus 54.2 last month. Inventories 48.9 versus 49.2 last month. Customers inventories 45.7 versus 46.7 last month. … Read more
Prior month -0.3%. June 2025 U.S. Construction Spending Summary Total Construction: Construction spending declined 0.4% MoM to a seasonally adjusted annual rate of $2.14 trillion in June. Compared to a year ago, spending was down 2.9% YoY. Year-to-date spending for the first half of 2025 is 2.2% lower than the same period in 2024. Private … Read more
Going back in time, the NASDAQ index has been above its 200 hour moving average going back to April 24. Today, the price decline dipped below that moving average (at 20598) to a level of 20573 before bouncing back to the upside. The index is currently at 20692. Watch that moving average for bias clues. … Read more
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not … Read more
The USDCAD moved lower following weaker-than-expected U.S. jobs data, which included significant downward revisions to prior months. This halted the recent rally, which had been fueled by the U.S. announcement of a 35% tariff on Canadian imports, a move that had weighed on the CAD. Before the jobs release, the pair had traded to its … Read more
Reuters reports from sources that the US government turmoil stalls thousands of export approvals: The backlog is hurting US exporters and signals a deep dysfunction at the US Commerce Department. Shipments of AI chips from Nvidia are the most high-profile example of licenses not being approved Sources said that this week no licenses have been … Read more
As London/European traders look for the exits, the major indices are closing sharply lower. The tariff news and threats of global slowdown (highlighted by the US jobs report) helped to push prices lower. A snapshot of the closing levels shows: German DAX, -639.50 points or -2.66% at 23425.98. France’s CAC, -225.80 point or -2.91% at … Read more
The July U.S. jobs report shifted the narrative swiftly. Atlanta Fed President Bostic acknowledged this change, noting that the data warrants a reassessment of Fed policy—shifting the emphasis from inflation risks alone to a more balanced view that includes growing concerns about the labor market. The report clearly points to a loss of momentum in … Read more
