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Yesterday, we had services (Markit data) for the Eurozone & the USA 🇺🇸🇪🇺 higher while China softened 🇨🇳.
Let's look compare services & manufacturing. In China, they go together, which make sense as manufacturing spills over the service confidence (Caixin) 👇🏻.
What about Europe?
Let's look compare services & manufacturing. In China, they go together, which make sense as manufacturing spills over the service confidence (Caixin) 👇🏻.
What about Europe?
In Europe, the divergence b/n manu & services WIDENED (meaning manu stuck in low gear while services stabilize at expansion mode).
Why? Could it be that manufacturing is TRADEABLE & reflects global slowdown & auto while services are NON-TRADEABLE?
EU fundamentals strong? 🧐
Why? Could it be that manufacturing is TRADEABLE & reflects global slowdown & auto while services are NON-TRADEABLE?
EU fundamentals strong? 🧐
Using ISM data (US service ISM out tonight), the trend is the same that of the Eurozone, meaning services & manufacturing WIDENED.
So, does this reflect USA fundamentals? As in non-tradeable sectors doing well v manufacturing which reflects GLOBAL DEMAND as manu tradeable?
🧐🇺🇸
So, does this reflect USA fundamentals? As in non-tradeable sectors doing well v manufacturing which reflects GLOBAL DEMAND as manu tradeable?
🧐🇺🇸
