Market Talk – April 21, 2023

ASIA:

The major Asian stock markets had a mixed day today:

• NIKKEI 225 decreased 93.20 points or -0.33% to 28,564.37
• Shanghai decreased 65.77 points or -1.95% to 3,301.26
• Hang Seng decreased 321.24 points or -1.57% to 20,075.73
• ASX 200 decreased 31.80 points or -0.43% to 7,330.40
• Kospi decreased 18.71 points or -0.73% to 2,544.40
• SENSEX increased 22.71 points or 0.04% to 59,655.06
• Nifty50 decreased 0.40 points or 0.00% to 17,624.05

The major Asian currency markets had a mixed day today:

• AUDUSD decreased 0.00397 or -0.59% to 0.67003
• NZDUSD decreased 0.00238 or -0.39% to 0.61462
• USDJPY decreased 0.135 or -0.10% to 134.095
• USDCNY increased 0.01544 or 0.22% to 6.89914

Precious Metals:

• Gold decreased 23.24 USD/t oz. or -1.16% to 1,981.10
• Silver decreased 0.266 USD/t. oz or -1.05% to 25.024

Some economic news from last night:

Japan:

National Core CPI (YoY) (Mar) remain the same at 3.1%

Services PMI decreased from 55.0 to 54.9

Some economic news from today:

India:

Bank Loan Growth increased from 15.0% to 15.7%

Deposit Growth increased from 9.6% to 10.2%

FX Reserves, USD increased from 584.76B to 586.41B

Hong Kong:

CPI (YoY) (Mar) remain the same at 1.70%

EUROPE/EMEA:

The major Europe stock markets had a green day today:

• CAC 40 increased 38.29 points or 0.51% to 7,577.00
• FTSE 100 increased 11.52 points or 0.15% to 7,914.13
• DAX 30 increased 85.69 points or 0.54% to 15,881.66

The major Europe currency markets had a mixed day today:

• EURUSD increased 0.00179 or 0.16% to 1.09849
• GBPUSD decreased 0.00041 or -0.03% to 1.24389
• USDCHF increased 0.00033 or 0.04% to 0.89243

Some economic news from Europe today:

UK:

Core Retail Sales (MoM) (Mar) decreased from 1.4% to -1.0%

Core Retail Sales (YoY) (Mar) decreased from -3.0% to -3.2%

Retail Sales (MoM) (Mar) decreased from 1.1% to -0.9%

Retail Sales (YoY) (Mar) increased from -3.3% to -3.1%

Composite PMI increased from 52.2 to 53.9

Manufacturing PMI decreased from 47.9 to 46.6

Services PMI increased from 52.9 to 54.9

France:

French Manufacturing PMI (Apr) decreased from 47.3 to 45.5

French Services PMI (Apr) increased from 53.9 to 56.3

Germany:

German Manufacturing PMI (Apr) decreased from 44.7 to 44.0

German Services PMI (Apr) increased from 53.7 to 55.7

Euro Zone:

Manufacturing PMI (Apr) decreased from 47.3 to 45.5

S&P Global Composite PMI (Apr) increased from 53.7 to 54.4

Services PMI (Apr) increased from 55.0 to 56.6

US/AMERICAS:

S&P global announced that the US economy showed signs of improvement this April. The purchasing managers index rose to 53.7 from 52,6, marking the highest reading in 12 months. The flash manufacturing sector PM rose to 50.4 from 49.2 the month prior indicating expansion. These readings are merely based on polls from senior executives in charge of purchases. The S&P Global surveys are the earliest indicators of economic health. The ISM factory sector index will be released at the end of the month and analysts anticipate a decline.

US Market Closings:

• Dow advanced 22.34 points or 0.07% to 33,809.96
• S&P 500 advanced 3.72 points or 0.09% to 4,133.52
• Nasdaq advanced 12.9 points or 0.11% to 12,072.46
• Russell 2000 advanced 1.81 points or 0.1% to 1,791.51

Canada Market Closings:

• TSX Composite advanced 62.46 points or 0.3% to 20,693.15
• TSX 60 advanced 4.14 points or 0.33% to 1,248.99

Brazil Market Closing:

• Bovespa advanced 453.88 points or 0.44% to 104,366.82

ENERGY:

The oil markets had a mixed day today:

• Crude Oil increased 0.461 USD/BBL or 0.60% to 77.831
• Brent increased 0.466 USD/BBL or 0.57% to 81.566
• Natural gas decreased 0.0176 USD/MMBtu or -0.78% to 2.2314
• Gasoline increased 0.0131 USD/GAL or 0.51% to 2.5995
• Heating oil decreased 0.0008 USD/GAL or -0.03% to 2.4941

The above data was collected around 14:24 EST on Friday

• Top commodity gainers: Methanol (1.47%), Platinum (2.64%), Canola (1.20%) and Cocoa (4.18%)
• Top commodity losers: HRC Steel (-2.06%), Oat (-3.11%), Bitumen (-1.99%) and Zinc (-1.68%)

The above data was collected around 14:33 EST Friday.

BONDS:

Japan 0.467% (-0.4bp), US 2’s 4.19% (+0.016%), US 10’s 3.5661% (+2.11bps); US 30’s 3.77% (+0.017%), Bunds 2.485% (+4.1bp), France 2.991% (+3.7bp), Italy 4.356% (+4.6bp), Turkey 11.92% (+5bp), Greece 4.317% (-0.6bp), Portugal 3.332% (+2.1bp); Spain 3.527% (+4.5bp) and UK Gilts 3.758% (-0.2bp).

The post Market Talk – April 21, 2023 first appeared on Armstrong Economics.