US PMI Manufacturing dropped from 57.7 to 55.0 in January, a 15-month low. PMI Services dropped from 57.6 to 50.9, an 18-month low. PMI Composite dropped from 57.0 to 50.8, also an 18-month low. Chris Williamson, Chief Business Economist at IHS Markit, said: “Soaring virus cases have brought the US economy to a near standstill […]
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Key Highlights EUR/USD started a fresh increase above the 1.0750 resistance zone. A short-term rising channel with support at 1.0800 on the 4-hour chart. GBP/USD surged above the 1.2850 and 1.2880 resistance levels. Crude oil Read more…
Japan’s labor cash earnings rose 2.8% yoy in January, falling short of market expectations of 3.2% yoy. Nominal wage growth remained positive for the 37th month. Real wages, adjusted for inflation, fell -1.8% yoy, reversing Read more…
The economy is starting to look weak. Wall Street is stressed by all the volatility in the financial markets. The big immediate issues are tariffs and the potential for huge job cuts in federal government Read more…