Market Talk – June 8, 2023

ASIA:

The major Asian stock markets had a mixed day today:

• NIKKEI 225 decreased 272.47 points or -0.85% to 31,641.27
• Shanghai increased 15.83 points or 0.49% to 3,213.59
• Hang Seng increased 47.18 points or 0.25% to 19,299.18
• ASX 200 decreased 18.30 points or -0.26% to 7,099.70
• Kospi decreased 4.75 points or -0.18% to 2,610.85
• SENSEX decreased 294.32 points or -0.47% to 62,848.64
• Nifty50 decreased 91.85 points or -0.49% to 18,634.55

The major Asian currency markets had a mixed day today:

• AUDUSD increased 0.00663 or 1.00% to 0.67163
• NZDUSD increased 0.00627 or 1.04% to 0.60977
• USDJPY decreased 1.155 or -0.82% to 138.955
• USDCNY decreased 0.02759 or -0.39% to 7.11981

Precious Metals:

• Gold increased 27.69 USD/t oz. or 1.43% to 1,967.32
• Silver increased 0.811 USD/t. oz or 3.46% to 24.266

Some economic news from last night:

Japan:

Adjusted Current Account (Apr) increased from 1.01T to 1.90T

Current Account n.s.a. (Apr) decreased from 2.278T to 1.895T

GDP (QoQ) (Q1) increased from 0.1% to 0.7%

GDP (YoY) (Q1) increased from 0.4% to 2.7%

Australia:

Trade Balance (Apr) decreased from 14.822B to 11.158B

Some economic news from today:

India:

Interest Rate Decision remain the same at 6.50%

US/AMERICAS:

According to the Labor Department, the number of Americans filing for jobless claims last week rose to its highest level since October 2021, increasing by 22,000 to 264,000. This is higher than the previous week’s 242,000 and is seen as a sign that the labor market is cooling. However, despite the increase in jobless claims, the labor market remains tight and jobs remain plentiful by historical standards. The Fed has been looking for signs of an easing workforce. The much-anticipated inflation report will be released next week before the FOMC deliberates.

US Market Closings:

• Dow advanced 168.59 points or 0.5% to 33,833.61
• S&P 500 26.41 points or 0.62% to 4,293.93
• Nasdaq advanced 133.63 points or 1.02% to 13,238.52
• Russell 2000 declined 7.67 points or -0.41% to 1,880.78

Canada Market Closings:

• TSX Composite declined 40.99 points or -0.21% to 19,942.7
• TSX 60 declined 2.29 points or -0.19% to 1,198.12

Brazil Market Closing:

• Bovespa advanced 878.06 points or 0.77% to 115,488.16

EUROPE/EMEA:

The major Europe stock markets had a mixed day today:

• CAC 40 increased 19.36 points or 0.27% to 7,222.15
• FTSE 100 decreased 24.60 points or -0.32% to 7,599.74
• DAX 30 increased 29.40 points or 0.18% to 15,989.96

The major Europe currency markets had a mixed day today:

• EURUSD increased 0.00867 or 0.81% to 1.07837
• GBPUSD increased 0.01164 or 0.94% to 1.25504
• USDCHF decreased 0.01034 or -1.14% to 0.89996

Some economic news from Europe today:

France:

French Non-Farm Payrolls (QoQ) (Q1) increased from 0.2% to 0.3%

Euro Zone:

GDP (YoY) (Q4) decreased from 1.8% to 1.0%

GDP (QoQ) (Q1) remain the same at -0.1%

ENERGY:

The oil markets had a negative day today:

• Crude Oil decreased 1.487 USD/BBL or -2.05% to 71.043
• Brent decreased 1.337 USD/BBL or -1.74% to 75.613
• Natural gas decreased 0.0056 USD/MMBtu or -0.24% to 2.3234
• Gasoline decreased 0.0305 USD/GAL or -1.15% to 2.6107
• Heating oil decreased 0.0281 USD/GAL or -1.17% to 2.3737

The above data was collected around 13:03 EST on Thursday

• Top commodity gainers: Silver (3.46%), Coffee (5.34%), Oat (4.03%) and Sugar (4.49%)
• Top commodity losers: Palladium (-2.37%), Cheese (-3.09%), Crude Oil (-2.05%) and Brent (-1.74%)

The above data was collected around 13:10 EST Thursday.

BONDS:

Japan 0.438% (+2.3bp), US 2’s 4.53% (-0.023%), US 10’s 3.7334% (-5.06bps); US 30’s 3.90% (-0.038%), Bunds 2.416% (-2.7bp), France 2.964% (-3.7bp), Italy 4.188% (-8.1bp), Turkey 14.81% (+24bp), Greece 3.78% (+4.5bp), Portugal 3.143% (-2bp); Spain 3.413% (-4.4bp) and UK Gilts 4.245% (-0.7bp).

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