Market Talk – April 11, 2023

ASIA:

The major Asian stock markets had a mixed day today:

• NIKKEI 225 increased 289.71 points or 1.05% to 27,923.37
• Shanghai decreased 1.79 points or -0.05% to 3,313.57
• Hang Seng increased 154.04 points or 0.76% to 20,485.24
• ASX 200 increased 90.90 points or 1.26% to 7,309.90
• Kospi increased 35.78 points or 1.42% to 2,547.86
• SENSEX increased 147.88 points or 0.25% to 59,994.39
• Nifty50 increased 98.25 points or 0.56% to 17,722.30

The major Asian currency markets had a mixed day today:

• AUDUSD increased 0.00102 or 0.15% to 0.66472
• NZDUSD decreased 0.00223 or -0.36% to 0.61927
• USDJPY increased 0.055 or 0.04% to 133.655
• USDCNY increased 0.00604 or 0.09% to 6.89624

Precious Metals:

• Gold increased 13.85 USD/t oz. or 0.70% to 2,003.80
• Silver increased 0.154 USD/t. oz or 0.62% to 25.049

Some economic news from last night:

China:

CPI (YoY) (Mar) decreased from 1.0% to 0.7%

CPI (MoM) (Mar) increased from -0.5% to -0.3%

PPI (YoY) (Mar) decreased form -1.4% to -2.5%

Australia:

NAB Business Confidence (Mar) increased from -4 to -1

Westpac Consumer Sentiment (Apr) increased from 0.0% to 9.4%

Some economic news from today:

China:

New Loans (Mar) increased from 1,810.0B to 3,890.0B

EUROPE/EMEA:

The major Europe stock markets had a green day today:

• CAC 40 increased 65.53 points or 0.89% to 7,390.28
• FTSE 100 increased 44.16 points or 0.57% to 7,785.72
• DAX 30 increased 57.28 points or 0.37% to 15,655.17

The major Europe currency markets had a mixed day today:

• EURUSD increased 0.00438 or 0.40% to 1.09028
• GBPUSD increased 0.00291 or 0.24% to 1.24101
• USDCHF decreased 0.00524 or -0.58% to 0.90416

Some economic news from Europe today:

UK:

Mortgage Rate (GBP) (Mar) increased from 7.02% to 7.22%

Euro Zone:

Retail Sales (MoM) (Feb) decreased from 0.8% to -0.8%

US/AMERICAS:

The International Monetary Fund issued a dire warning for the economy at large, as they do not expect the global economy to return to what it was pre-pandemic. Global growth is projected to be 3% this year, which is the lowest mid forecast in three decades. “A hard landing — particularly for advanced economies — has become a much larger risk. Policymakers may face difficult trade-offs to bring sticky inflation down and maintain growth while also preserving financial stability,” the IMF said. The IMF called the “anemic” outlook a reflection of tight policies, the war in Ukraine, and a “recent deterioration in financial conditions.”

US Market Closings:

• Dow advanced 98.6 points or 0.29% to 33,685.12
• S&P 500 declined -0.06% or 0% to 4,109.05
• Nasdaq declined 52.48 points or -0.43% to 12,031.88
• Russell 2000 advanced 14.15 points or 0.8% to `,786.59

Canada Market Closings:

• TSX Composite advanced 146.03 points or 0.72% to 20,421.85
• TSX 60 advanced 8.68 points or 0.71% to 1,228.77

Brazil Market Closing:

• Bovespa advanced 4,367.12 points or 4.29% to 106,213.76

ENERGY:

The oil markets had a mixed day today:

• Crude Oil increased 1.377 USD/BBL or 1.73% to 81.117
• Brent increased 1.226 USD/BBL or 1.46% to 85.406
• Natural gas increased 0.0047 USD/MMBtu or 0.22% to 2.1767
• Gasoline increased 0.0426 USD/GAL or 1.52% to 2.8505
• Heating oil decreased 0.0087 USD/GAL or -0.32% to 2.6727

The above data was collected around 12:22 EST on Tuesday

• Top commodity gainers: Orange Juice (2.58%), Coffee (3.78%), Sugar (2.72%) and Palladium (3.03%)
• Top commodity losers: Aluminum (-1.48%), Rapeseed (-0.70%), Canola (-0.65%) and Lumber (-0.63%)

The above data was collected around 12:28 EST Tuesday.

BONDS:

Japan 0.452% (-1bp), US 2’s 4.07% (+0.060%), US 10’s 3.4506% (+3.56bps); US 30’s 3.64% (+0.010%), Bunds 2.311% (+13bp), France 2.831% (+12.5bp), Italy 4.173% (+14.6bp), Turkey 12.06% (+34bp), Greece 4.231% (+15.1bp), Portugal 3.197% (+13.3bp); Spain 3.363% (+11.3bp) and UK Gilts 3.540% (+10.7bp).

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