Daily Market Color 07/01/2013

Daily Market Color

07/01/2013

Economic Reports & Headlines

The global economic calendar is full for the first day of July. Let us start off in France with manufacturing PMI figures for June. The reading was practically in line with consensus, contracting slightly less than expected, 48.4 Vs 48.3.

Germany’s manufacturing PMI missed consensus by a tiny margin, 48.6 Vs 48.7.

 PMI in the Eurozone as a whole for June was virtually in line with consensus and similar to France’s and Germany’s manufacturing PMI figures, 48.8 Vs 48.7.

Manufacturing PMI in the UK for June expanded more than expected, 52.2 Vs 51.5.

The harmonized index of consumer prices in the Eurozone for June was in line with expectations on a year over year basis, 1.6%.

European Union joblessness in May edge higher; however, it was lower than expected, 12.2% Vs 12.3%.

On the domestic front, we got manufacturing PMI in June for the US which disappointed and came in lower than consensus, 51.9 Vs 52.3. 

ISM manufacturing index for June in the US came in worse than 9:00am’s PMI reading. The ISM figure beat consensus, 50.9 Vs 50.5.

Construction spending in the US edged up 50 basis points on a monthly basis. On a year over year basis, the construction spending grew 5.4%.