7:01 PM · 22 September 2023

Daily Summary: Mixed PMI data from the US and EU

  • On Wall Street, we are observing a slight rebound in indices after two days of stronger declines. The US500 is trading slightly positive, while the Nasdaq 100 (US100) gains 0.50%.
  • PMI readings from the USA were mixed, with the manufacturing PMI slightly bouncing back and coming in above expectations:
    • Service PMI Index: 50.2 Forecast: 50.7 Previously: 50.5
    • Manufacturing PMI Index: 48.9 Forecast: 48.2 Previously: 47.9
    • S&P Composite PMI Index: 50.1 Forecast: 50.4 Previously: 50.2
  • Today, PMI data was also published for EU countries. The market first received terrible data from France, followed by better numbers from Germany, although still pointing towards a recession.
    • Germany:
      • Manufacturing PMI: 39.8 (expected: 39.5; previously: 39.1)
      • Services PMI: 49.8 (expected: 47.1; previously: 47.3)
    • France:
      • Manufacturing PMI: 43.6 (expected: 46.1; previously: 46.0)
      • Services PMI: 43.9 (expected: 46.0; previously: 46.0)
  • EURUSD managed to erase some of its previous gains, and the dollar index futures (USDIDX) are trading lower. The dollar is pulling back slightly after its recent strong advances.
  • Investors are slowly beginning to accept the prospect of maintaining higher interest rates for longer than previously priced in. This stance was confirmed today by Susan Collins, head of the Philadelphia Fed, and Michelle Bowman, who emphasized that the anticipated slow decline in inflation (amid a strong economy) might require a more robust tightening of policy.
  • The Bank of Japan keeps interest rates unchanged, and the Japanese yen (JPY) is recording moderate declines against other currencies after dovish remarks from the bank.
  • In the cryptocurrency market, we are observing moderate volatility today. Bitcoin and Ethereum are stabilizing at yesterday's lows.
17 October 2025, 7:03 PM

Daily summary: Trump remarks helps Wall Street 📈Precious metals decline

17 October 2025, 5:37 PM

Fed's Musalem remarks on the US economy and tariffs🗽

17 October 2025, 12:37 PM

The AI Fever: Bubble or Will It Keep Rising?

17 October 2025, 10:01 AM

BREAKING: Final inflation reading matches expectations. Core HICP inflation marginally higher

Join over 1 700 000 XTB Group Clients from around the world

The financial instruments we offer, especially CFDs, can be highly risky. Fractional Shares (FS) is an acquired from XTB fiduciary right to fractional parts of stocks and ETFs. FS are not a separate financial instrument. The limited corporate rights are associated with FS.
This page was not created for investors residing in Brazil. This brokerage is not authorized by the Comissão de Valores Mobiliários (CVM) or the Brazilian Central Bank (BCB). The content of this page should not be characterized as an investment offer in Brazil or for investors residing in that country.
Losses can exceed deposits