Thread by @Trinhnomics

Good morning 🌞 Epic manufacturing 🇺🇸 ISM jobs report🔥📈

And we all know that jobs are key, esp manu jobs for the low skilled as they need stable full-time employment & purpose.

Obvs when we think of this, 1 country needs it more than most: 🇮🇳 India. Thread’ll follow soon 😎

US ISM manufacturing basically remained high above 50 (55.3 to be exact for March although lower than early 2018) & that is a big divergence b/n contracting Eurozone manufacturing PMI & China contracting PMI in Q1 (although by only a smudge)

👇🏻👇🏻👇🏻👇🏻👇🏻

#USD #DXY #EUR #CNY #CNH

This is wut the ISM manufacturing employment job report look like:

📈📈🔥🔥🔥

(btw, China & the EU are not employment but headline numbers). Trump will use this for his 2020 pitch 👉🏻manu employment bouncing in the 🇺🇸 (yes, tax cuts helped & tariffs added costs of foreign goods)

Here's US data smoothed (3-month average) EU & China data also smoothed:

Wut do u see? Divergence b/n US data & rest of the world again, esp versus the Eurozone.

🇺🇸💶🇨🇳

We got Korea CPI, which slowed to 0.4% YoY in March & core inflation 0.9%YoY from 1.3%, meaning weak demand both domestic & external so ✂✂✂ coming;

Meanwhile, RBA meeting today at 1130am (expectations of a hold of 1.5% but will watch for Lowe's view for outlook);

RBI'll cut.

Here are some details from US manu ISM💪🏻💪🏻:

a) New orders, employment 📈 (likely from strong econ - tax cuts)
b) Prices higher 📈 (demand & tariff impact)
c) Export orders 📉 (weak global growth.

Meaning, seems like Americans are doing more manufacturing. Details of sectors 👇🏻