Market Talk – June 13, 2023

ASIA:

The major Asian stock markets had a green day today:

• NIKKEI 225 increased 584.65 points or 1.80% to 33,018.65
• Shanghai increased 4.84 points or 0.15% to 3,233.67
• Hang Seng increased 117.11 points or 0.60% to 19,521.42
• ASX 200 increased 16.40 points or 0.23% to 7,138.90
• Kospi increased 8.60 points or 0.33% to 2,637.95
• SENSEX increased 418.45 points or 0.67% to 63,143.16
• Nifty50 increased 114.65 points or 0.62% to 18,716.15

The major Asian currency markets had a green day today:

• AUDUSD increased 0.00243 or 0.36% to 0.67743
• NZDUSD increased 0.0026 or 0.42% to 0.61470
• USDJPY increased 0.416 or 0.30% to 140.016
• USDCNY increased 0.01705 or 0.24% to 7.17195

Precious Metals:

• Gold decreased 13.51 USD/t oz. or -0.69% to 1,943.41
• Silver decreased 0.276 USD/t. oz or -1.15% to 23.774

Some economic news from last night:

Japan:

BSI Large Manufacturing Conditions (Q2) increased from -10.5 to -0.4

Australia:

Westpac Consumer Sentiment (Jun) increased from -7.9% to 0.2%

NAB Business Confidence (May) decreased from 0 to -4

Some economic news from today:

China:

New Loans (May) increased from 718.8B to 1,360.0B

EUROPE/EMEA:

The major Europe stock markets had a green day today:

• CAC 40 increased 40.45 points or 0.56% to 7,290.80
• FTSE 100 increased 24.09 points or 0.32% to 7,594.78
• DAX 30 increased 132.81 points or 0.83% to 16,230.68

The major Europe currency markets had a mixed day today:

• EURUSD increased 0.00382 or 0.36% to 1.07952
• GBPUSD increased 0.01032 or 0.82% to 1.26142
• USDCHF decreased 0.004 or -0.44% to 0.90500

Some economic news from Europe today:

UK:

Average Earnings Index +Bonus (Apr) increased from 6.1% to 6.5%

Claimant Count Change (May) decreased from 23.4K to -13.6K

Employment Change 3M/3M (MoM) (Apr) increased from 182K to 250K

Unemployment Rate (Apr) decreased from 3.9% to 3.8%

Germany:

German CPI (MoM) (May) decreased from 0.4% to -0.1%

German CPI (YoY) (May) decreased from 7.2% to 6.1%

German ZEW Current Conditions (Jun) decreased from -34.8 to -56.5

German ZEW Economic Sentiment (Jun) increased from -10.7 to -8.5

Spain:

Core CPI (YoY) (May) decreased from 6.6% to 6.1%

Spanish CPI (YoY) (May) decreased from 4.1% to 3.2%

Spanish HICP (YoY) (May) decreased from 3.8% to 2.9%

Euro Zone:

ZEW Economic Sentiment (Jun) decreased -9.4 to -10.0

US/AMERICAS:

The Consumer Price Index (CPI) rose at annualized rate of 4% in May, marking the lowest rise in two years, according to the Labor Department. Core inflation rose 0.4% for the month, up 5.3% year-on-year. This is promising news and further indication that the Federal Open Market Committee may vote to pause rate hikes at their meeting this week.

US Market Closings:

• Dow advanced 145.79 points or 0.43% to 34,212.12
• S&P 500 advanced 30.08 points or 0.69% to 4,369.01
• Nasdaq advanced 111.4 points or 0.83% to 13,573.32
• Russell 2000 advanced 23.12 points or 1.23% to 1,896.33

Canada Market Closings:

• TSX Composite advanced 69.09 points or 0.35% to 19,990.4
• TSX 60 adcanced 4.2 points or 0.35% to 1,202.39

Brazil Market Closing:

• Bovespa declined 593.63 points or -0.51% to 116,742.71

ENERGY:

The oil markets had a green day today:

• Crude Oil increased 2.005 USD/BBL or 2.99% to 69.125
• Brent increased 2.244 USD/BBL or 3.12% to 74.084
• Natural gas increased 0.0742 USD/MMBtu or 3.27% to 2.3402
• Gasoline increased 0.0647 USD/GAL or 2.61% to 2.5473
• Heating oil increased 0.0889 USD/GAL or 3.85% to 2.3980

The above data was collected around 12:05 EST on Tuesday

• Top commodity gainers: Oat (3.13%), Heating Oil (3.85%), Natural Gas (3.27%) and Lumber (4.50%)
• Top commodity losers: Orange Juice (-1.91%), Coffee (-1.48%), Rice (-7.09%) and Silver (-1.15%)

The above data was collected around 12:10 EST Tuesday.

BONDS:

Japan 0.431% (+0.5bp), US 2’s 4.63% (+0.036%), US 10’s 3.788% (+2.3bps); US 30’s 3.92% (+0.017%), Bunds 2.424% (+4.2bp), France 2.948% (+3.8bp), Italy 4.056% (-0.4bp), Turkey 17.32% (+126bp), Greece 3.715% (+0.5bp), Portugal 3.118% (+4.8bp); Spain 3.378% (+4.1bp) and UK Gilts 4.434% (+9.4bp).

The post Market Talk – June 13, 2023 first appeared on Armstrong Economics.