Market Talk – May 11, 2023

ASIA:

The major Asian stock markets had a mixed day today:

• NIKKEI 225 increased 4.54 points or 0.02% to 29,126.72
• Shanghai decreased 9.60 points or -0.29% to 3,309.55
• Hang Seng decreased 18.41 points or -0.09% to 19,743.79
• ASX 200 decreased 3.80 points or -0.05% to 7,251.90
• Kospi decreased 5.51 points or -0.22% to 2,491.00
• SENSEX decreased 35.68 points or -0.06% to 61,904.52
• Nifty50 decreased 18.10 points or -0.10% to 18,297.00

The major Asian currency markets had a mixed day today:

• AUDUSD decreased 0.00826 or -1.22% to 0.66954
• NZDUSD decreased 0.00705 or -1.11% to 0.62955
• USDJPY increased 0.147 or 0.11% to 134.487
• USDCNY increased 0.02442 or 0.35% to 6.96182

Precious Metals:

• Gold decreased 15.31 USD/t oz. or -0.75% to 2,014.20
• Silver decreased 1.242 USD/t. oz or -4.89% to 24.178

Some economic news from last night:

China:

CPI (MoM) (Apr) increased from -0.3% to -0.1%

CPI (YoY) (Apr) decreased from 0.7% to 0.1%

PPI (YoY) (Apr) decreased from -2.5% to -3.6%

Japan:

Adjusted Current Account (Mar) decreased from 1.23T to 1.01T

Current Account n.s.a. (Mar) increased from 2.197T to 2.278T

Some economic news from today:

China:

New Loans (Apr) decreased from 3,890.0B to 718.8B

EUROPE/EMEA:

The major Europe stock markets had a mixed day today:

• CAC 40 increased 20.58 points or 0.28% to 7,381.78
• FTSE 100 decreased 10.75 points or -0.14% to 7,730.58
• DAX 30 decreased 61.32 points or -0.39% to 15,834.91

The major Europe currency markets had a mixed day today:

• EURUSD decreased 0.00638 or -0.58% to 1.09162
• GBPUSD decreased 0.01151 or -0.91% to 1.25089
• USDCHF increased 0.00474 or 0.53% to 0.89434

Some economic news from Europe today:

UK:

BoE Interest Rate Decision (May) increased from 4.25% to 4.50%

US/AMERICAS:

The Consumer Price Index in the US rose 0.4% in April on a seasonally adjusted basis, after increasing 0.1% in March, according to a report by the US Labor Department. The CPI-U increased 6% over the 12-month period ending February 2023, and the core CPI rose 5.5% from a year ago, both in line with expectations. The CPI reading has cooled considerably since peaking out around 9% in June 2022, but inflation has been persistent despite the Federal Reserve’s efforts to bring down prices.

US Market Closings:

• Dow declined 221.82 points or -0.66% to 33,309.51
• S&P 500 declined 7.02 points or -0.17% to 4,130.62
• Nasdaq advanced 22.06 points or 0.18% to 12,328.51
• Russell 2000 declined 14.81 points or -0.84% to 1,744.71

Canada Market Closings:

• TSX Composite declined 81.7 points or -0.4% to 20,417.61
• TSX 60 declined 3.46 points or -0.28% to 1,233.58

Brazil Market Closing:

• Bovespa advanced 808.19 points or 0.75% to 108,256.4

ENERGY:

The oil markets had a mixed day today:

• Crude Oil decreased 1.772 USD/BBL or -2.44% to 70.788
• Brent decreased 1.284 USD/BBL or -1.68% to 75.126
• Natural gas increased 0.0003 USD/MMBtu or 0.01% to 2.1913
• Gasoline decreased 0.0425 USD/GAL or -1.70% to 2.4524
• Heating oil decreased 0.0426 USD/GAL or -1.78% to 2.3508

The above data was collected around 14:38 EST on Thursday

• Top commodity gainers: Bitumen (1.52%) and Lumber (0.17%)
• Top commodity losers: Orange Juice (-6.83%), Palladium (-3.50%), Copper (-3.48%) and Silver (-4.89%)

The above data was collected around 14:45 EST Thursday.

BONDS:

Japan 0.391% (-2.1bp), US 2’s 3.91% (+0.005%), US 10’s 3.3991% (-4.19bps); US 30’s 3.75% (-0.048%), Bunds 2.239% (-5.6bp), France 2.807% (-7.2bp), Italy 4.111% (-10.1bp), Turkey 15.78% (+99bp), Greece 4.021% (-7bp), Portugal 3.059% (-8.8bp); Spain 3.317% (-6.2bp) and UK Gilts 3.709% (-9.2bp).

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