Market Talk – June 22, 2023

ASIA:

 

The major Asian stock markets had a mixed day today:

  • NIKKEI 225 decreased 310.26 points or -0.92% to 33,264.88
  • Shanghai closed
  • Hang Seng closed
  • ASX 200 decreased 119.40 points or -1.63% to 7,195.50
  • Kospi increased 11.07 points or 0.43% to 2,593.70
  • SENSEX decreased 284.26 points or -0.45% to 63,238.89
  • Nifty50 decreased 85.60 points or -0.45% to 18,771.25

 

 

The major Asian currency markets had a mixed day today:

  • AUDUSD decreased 0.00444 or -0.65% to 0.67516
  • NZDUSD decreased 0.00184 or -0.30% to 0.61836
  • USDJPY increased 1.028 or 0.72% to 142.908
  • USDCNY increased 0.02444 or 0.34% to 7.20054

 

Precious Metals:

  • Gold decreased 16.67 USD/t oz. or -0.86% to 1,915.59
  • Silver decreased 0.172 USD/t. oz or -0.76% to 22.468

 

Some economic news from last night:

Japan:

Foreign Bonds Buying increased from 17.8B to 1,056.2B

Foreign Investments in Japanese Stocks decreased from 1,323.0B to 535.1B

 

No economic news from today:

 

 

EUROPE/EMEA:

 

The major Europe stock markets had a negative day today:

  • CAC 40 decreased 57.69 points or -0.79% to 7,203.28
  • FTSE 100 decreased 57.15 points or -0.76% to 7,502.03
  • DAX 30 decreased 34.97 points or -0.22% to 15,988.16

 

The major Europe currency markets had a mixed day today:

  • EURUSD decreased 0.00317 or -0.29% to 1.09523
  • GBPUSD decreased 0.00317 or -0.25% to 1.27373
  • USDCHF increased 0.00378 or 0.42% to 0.89678

 

Some economic news from Europe today:

Swiss:

SNB Interest Rate Decision (Q2) increased from 1.50% to 1.75%

UK:

BoE Interest Rate Decision (Jun) increased from 4.50% to 5.00%

 

US/AMERICAS:

According to the National Association of Realtors, sales of previously owned homes were flat in May 2023, with a seasonally adjusted annual rate of 4.28 million units, compared to 4.28 million in April. The inventory of unsold existing homes increased 7.2% from the previous month to 1.04 million at the end of April, or the equivalent of 2.9 months’ supply at the current monthly sales pace. The median existing-home price for all housing types was $375,700, a decline of 0.9% from March 2022. The decline in home sales is due to several factors, including high prices and fluctuating mortgage rates.

US Market Closings:

  • Dow declined 4.81 points or -0.01% to 33,946.71
  • S&P 500  advanced 16.2 points or 0.37% to 4,381.89
  • Nasdaq advanced 128.41 points or 0.95% to 13,630.61
  • Russell 2000 declined 14.84 points or -0.8% to 1,848.18

 

Canada Market Closings:

  • TSX Composite declined 125.05 points or -0.63% to 19,580.9
  • TSX 60 declined 6.28 points or -0.53% to 1,179.51

 

Brazil Market Closing:

  • Bovespa declined 1,486.06 points or -1.23% to 118,934.2

 

ENERGY:

 

The oil markets had a negative day today:

 

  • Crude Oil decreased 2.938 USD/BBL or -4.05% to 69.592
  • Brent decreased 3.059 USD/BBL or -3.97% to 74.061
  • Natural gas decreased 0.0277 USD/MMBtu or -1.07% to 2.5693
  • Gasoline decreased 0.0735 USD/GAL or -2.80% to 2.5506
  • Heating oil decreased 0.091 USD/GAL or -3.55% to 2.4732

 

The above data was collected around 12:34 EST on Thursday

 

  • Top commodity gainers: HRC Steel (1.77%), Zinc (1.22%), Orange Juice (0.87%) and Lumber (0.87%)
  • Top commodity losers: Palladium (-5.00%), Rapeseed (-3.81%), Crude Oil (-4.05%) and Brent (-3.97%)

 

The above data was collected around 12:46 EST Thursday.

 

 

BONDS:

 

Japan 0.380% (+0.5bp), US 2’s 4.78% (+0.075%), US 10’s 3.7946% (+7.16bps); US 30’s 3.87% (+0.058%), Bunds 2.489% (+6bp), France 3.023% (+6.4bp), Italy 4.131% (+8.4bp), Turkey 16.23% (-21bp), Greece 3.749% (+1.4bp), Portugal 3.199% (+7.8bp); Spain 3.454% (+8.4bp) and UK Gilts 4.364% (-4bp).

 

The post Market Talk – June 22, 2023 first appeared on Armstrong Economics.

Latest Posts

Ohio Prohibits Migrants from Voting

The federal government of the United States has been compromised. It is now up to the states to defend our right to free elections and implement laws to prohibit non-citizens [...]
Read more

US Consumer Sentiment Reaches 6-Month Low

Consumer sentiment is continuing its decline amongst Americans. The University of Michigan’s survey monthly survey revealed sentiment fell to a six-month low of 67.4 in May, down from 77.2 in [...]
Read more