November 2017 US flash Markit Manufacturing, services & composite PMI’s 24 November 2017

  • Prior 54.6
  • Output 54.3 vs 54.6 prior
  • Services 54.7 vs 55.3 exp. Prior 55.3
  • New orders 54.3 vs 54.7 prior
  • Composite 54.6 vs 55.2 prior
  • New orders 55.5 vs 54.3 prior

Softer readings all round and we had the warning from the Nov Empire report.

It’s not all bad news though as Markit reports that price pressures increased again. In manufacturing, input prices were running at the second highest rate since Dec 2012;

Meanwhile, latest data revealed that cost pressures intensified at private sector companies.This was driven by the second-fastest rise in manufacturing input price inflation since December 2012. A number of firms cited higher prices for chemicals and energy following supply chain disruption linked to hurricanes Harvey and Irma.

Strong input cost pressures resulted in the sharpest rise in prices charged by manufacturers for just over three years. Prices charged also picked up at a faster pace in the service sector.

USD is still being whiped around in EUR and JPY pairs but doing nothing in USDJPY at 111.39. As we know from US sata reports these days, it’s all about the inflation. We skip finding out about wages in the NFP’s next week as the 1st falls on a Friday but we’ll get the ISM instead and that will be big if the the inflation action in these PMI’s are reflected in there.

Ryan Littlestone

Psychedelic chartist extraordinaire. Have your shades ready.
Philosophy: “Don’t be a Dick for a tick”

Read how Ryan got into trading here
Ryan Littlestone

Pin It on Pinterest