by Christopher Nye | Jun 6, 2023
The ISM Services PMI fell to 50.3 in May from 51.9 in April, marking slow growth in the services sector. Despite the slow growth, yesterday’s data pointed to the fifth consecutive month of growth in the services sector. The data had a disappointing impact on markets...
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by Christopher Nye | Jun 6, 2023
Retail sales in the eurozone fell 1.2% month-over-month in March, following a 0.2% drop in February. Yesterday’s data came in much worse than forecasts of a 0.1% decline as high prices in the eurozone continue to weigh in on consumers’...
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by Christopher Nye | Jun 6, 2023
The S&P Global/CIPS services purchasing manager’s index (PMI) was revised slightly higher to 55.2 in May. This was a gentle rise from the preliminary index of 55.1 markets were expecting yesterday. The rise pointed to the 4th consecutive month of expansion in...
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by Christopher Nye | Jun 6, 2023
Sterling remains strong against the euro this morning, with weekly and monthly gains of nearly 5% and 3%, respectively. It is a mixed story for the pound against the US dollar. GBP/USD enters today with weekly gains of nearly 0.7%. However, on a monthly footing,...
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by Christopher Nye | Jun 5, 2023
Better than expected payrolls data plus a rise in US unemployment pushed US stocks to fresh highs on Friday. The blue-chip Dow Jones closed over 2 per cent higher at the end of the week, while the S&P 500 gained just under 1 and a half per cent, reaching its...
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