Important points:

• US manufacturing PMI from 47 in December.9 rose to 50 in January.3。

• US Services PMI from 51.4 to 52.9。

• US Composite PMI from 50.9 to 52.3。

On January 24, 2024, S & P Worldwide released a preliminary reading from its January PMI report。

US manufacturing PMI from 47 in December.9 to 50 in January.3, compared to the consensus expectations of analysts 47.9, showing expansion。At the same time, the report states that the improvement in operating conditions has occurred in the context of further reductions in production.。

Services PMI from 51 in December.4 grew to 52 in January.9, while analysts expect it to fall to 51。Composite PMI from 50.9 to 52.3, easily beating analysts' expectations。

S & P Global commented: "January's PMI data showed an encouraging start to the US economy, with companies reporting a marked acceleration in growth, accompanied by a significant easing in inflationary pressures.。"

Treasury yields rise after report。With the U.S. economy holding up well, the Fed has the opportunity to keep interest rates high to put additional pressure on inflation。

Dollar index picks up to 103 after PMI data.00 above, traders react to this。Rising Treasury yields provide substantial support for the dollar。

Gold falls back below $2025。Strong US economic data has a negative impact on the gold market。