Market Talk- April 14, 2023

ASIA:

The major Asian stock markets had a green day today:

• NIKKEI 225 increased 336.50 points or 1.20% to 28,493.47
• Shanghai increased 19.79 points or 0.60% to 3,338.15
• Hang Seng increased 94.33 points or 0.46% to 20,438.81
• ASX 200 increased 37.50 points or 0.51% to 7,361.60
• Kospi increased 9.83 points or 0.38% to 2,571.49
• SENSEX closed
• Nifty50 closed

The major Asian currency markets had a mixed day today:

• AUDUSD decreased 0.00809 or -1.19% to 0.67001
• NZDUSD decreased 0.00892 or -1.42% to 0.62048
• USDJPY increased 1.165 or 0.88% to 133.725
• USDCNY increased 0.00274 or 0.04% to 6.87374

Precious Metals:

• Gold decreased 45.05 USD/t oz. or -2.21% to 1,994.69
• Silver decreased 0.589 USD/t. oz or -2.28% to 25.209

Some economic news from last night:

New Zealand:

Business NZ PMI (Mar) decreased from 51.7 to 48.1

Some economic news from today:

India:

FX Reserves, USD increased from 578.45B to 584.76B

EUROPE/EMEA:

The major Europe stock markets had a green day today:

• CAC 40 increased 38.78 points or 0.52% to 7,519.61
• FTSE 100 increased 28.53 points or 0.36% to 7,871.91
• DAX 30 increased 78.04 points or 0.50% to 15,807.50

The major Europe currency markets had a mixed day today:

• EURUSD decreased 0.00666 or -0.60% to 1.09774
• GBPUSD decreased 0.0114 or -0.91% to 1.24060
• USDCHF increased 0.00602 or 0.68% to 0.89532

Some economic news from Europe today:

Swiss:

PPI (MoM) (Mar) increased from -0.2% to 0.2%

France:

French CPI (MoM) (Mar) decreased from 1.1% to 0.7%

French HICP (MoM) (Mar) decreased from 1.1% to 1.0%

Spain:

Spanish CPI (YoY) (Mar) decreased from 6.0% to 3.3%

Spanish HICP (YoY) (Mar) decreased from 6.0% to 3.1%

US/AMERICAS:

Numerous US banks posted positive Q1 revenue reports this Friday. Citigroup ($4.6 billion in net income versus $4.3 billion YoY;  $21.45 billion in revenue versus $19.99 billion expected) said personal banking rose 18% YoY. Wells Fargo ($20.73 billion revenue versus $20.08 billion expected; $1.23 per share GAAP versus 90 cents YoY) said it increased its net income by over 30% to nearly $5 billion in Q1. JPMorgan Chase (39.34 billion in revenue vs. $36.19 billion estimate; $4.32 per share vs. $3.41 estimate) saw net interest income rise 50% from the past year as profits rose 52%. Bank of America and Goldman will release their earnings report on Tuesday, while Morgan Stanley is set to release its report on Wednesday. Overall US banks seem to be enjoying the benefits of heightened rates.

US Market Closings:

• Dow declined 143.22 points or -0.42% to 33,886.47
• S&P 500 declined 8.58 points or -0.21% to 4,137.64
• Nasdaq declined 42.81 points or -0.35% to 12,123.47
• Russell 2000 declined 15.53 points or -0.86% to 1,781.15

Canada Market Closings:

• TSX Composite advanced 15.42 points or 0.07% to 20,579.91
• TSX 60 advanced 2.04 points or 0.16% to 1,239.59

Brazil Market Closing:

• Bovespa declined 178.48 points or -0.17% to 106,279.37

ENERGY:

The oil markets had a mixed day today:

• Crude Oil increased 0.165 USD/BBL or 0.20% to 82.325
• Brent increased 0.016 USD/BBL or 0.02% to 86.106
• Natural gas increased 0.0936 USD/MMBtu or 4.66% to 2.1006
• Gasoline decreased 0.0239 USD/GAL or -0.84% to 2.8078
• Heating oil decreased 0.0289 USD/GAL or -1.08% to 2.6439

The above data was collected around 12:53 EST on Friday

• Top commodity gainers: Natural Gas (4.66%), Lumber (2.04%), Wheat (2.31%) and Potatoes (3.76%)
• Top commodity losers: Orange Juice (-1.73%), Cheese (-1.52%), Gold (-2.21%) and Silver (-2.28%)

The above data was collected around 13:00 EST Friday.

BONDS:

Japan 0.471% (+0bp), US 2’s 4.12% (+0.141%), US 10’s 3.5261% (+7.51bps); US 30’s 3.74% (+0.059%), Bunds 2.439% (+6.8bp), France 2.947% (+5.9bp), Italy 4.294% (+7.4bp), Turkey 12.01% (-69bp), Greece 4.310% (+4.1bp), Portugal 3.317% (+7bp); Spain 3.483% (+6.6bp) and UK Gilts 3.652% (+8bp).

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