USD Mixed as Markit PMI Shows Manufacturing Falling to 117-Month Low

Markit Manufacturing PMI Talking Points:

Markit Manufacturing PMI谈话要点：

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• The U.S. Markit Manufacturing PMI reading came in at 50.1 for June and marks a 117-month low for the sector amid continued fragility

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• The weak trend continues in services and manufacturing with both numbers printing below analyst expectations

  服务业和制造业的疲软趋势仍在继续，数据印数低于分析师预期

• The US Dollar Index (DXY) is little changed on balance as better-than-expected existing home sales data offsets the manufacturing PMI miss

  由于好于预期的现有房屋销售数据抵消了制造业采购经理人指数错失，美元指数（DXY）的平衡变化不大

• US Treasury yields remain subdued as the US economy approach a crossroad of mixed economic data and an increasingly dovish Fed

  美国国债收益率依然存在随着美国经济走向混合经济数据和日益温和的美联储的十字路口而受到制服

Markit Economics released their monthly Purchasing Managers Index readings this morning which revealed continued weakness in the services and manufacturing sectors. Compared to the prior print of 50.5, Junes manufacturing PMI fell to 50.1 and registered a remarkable 117-month low. The services sector also showed weakness with the index hitting 50.6, down from 50.9 in May.

Markit Economics今天上午发布了他们的月度采购经理人指数读数显示服务业和制造业持续疲弱。与50.5的先前印刷相比，Junes制造业采购经理人指数降至50.1，并创下了117个月的低点。服务业也出现疲软，指数触及50.6，低于5月份的50.9。

The data comes at a pivotal point for the US as it relates to monetary policy seeing that the Federal Reserve‘s Board of Governors shifted to a more dovish stance in light of a slowing US economy earlier this week. Powell stressed during this week’s press conference that they will be keeping a close eye on economic data considering muted inflation pressures. In turn, US bonds saw strong buying with the US 10-Year yield falling briefly under 2 percent overnight. Contrasting the weak PMI data this morning was an US existing home sales which crossed the wires at 5.34 million and beat expectations along with an upward revision to the prior month reading of 5.21 million.

数据来自美国的关键点，因为它与货币政策有关鉴于本周早些时候美国经济放缓，美联储理事会转向更温和的立场。鲍威尔在本周的新闻发布会上强调，考虑到通胀压力缓和，他们将密切关注经济数据。反过来，美国债券买盘强劲，美国10年期国债收益率一夜之间短暂下跌2％。对比今天早上疲软的PMI数据是美国成屋销售量达到了534万，超过了预期，同时上调了上一个月的521万。

US Dollar Index (DXY) and 10-Year Treasury Note Yield (TNX) - 15 Min Time Frame

美元指数（DXY）和10年期国债收益率（TNX） - 15分钟时间框架

Markits Chief Economist noted that prices for goods and services rose at an increased rate for June due primarily to tariffs with two-thirds of manufactures citing tariffs as the reason for higher prices on their raw material costs. Also, survey respondents showed that clients are becoming somewhat averse to risk, mainly due to less than favorable economic conditions in the US.

Markits首席经济学家指出，商品和服务价格6月份上涨，主要原因是关税占三分之二制造商将关税列为其原材料成本价格上涨的原因。此外，调查受访者表明，客户对风险的反对程度有所提高，这主要是由于美国的经济状况不佳。

--Written by Thomas Westwater, Intern Analyst for DailyFX.com

- 由DailyFX的实习分析师Thomas Westwater撰写.com