Market Talk – September 13, 2023

ASIA:

The major Asian stock markets had a mixed day today:

• NIKKEI 225 decreased 69.85 points or -0.21% to 32,706.52
• Shanghai decreased 13.99 points or -0.45% to 3,123.07
• Hang Seng decreased 16.67 points or -0.09% to 18,009.22
• ASX 200 decreased 53.00 points or -0.74% to 7,153.90
• Kospi decreased 1.88 points or -0.07% to 2,534.70
• SENSEX increased 245.86 points or 0.37% to 67,466.99
• Nifty50 increased 76.80 points or 0.38% to 20,070.00

The major Asian currency markets had a mixed day today:

• AUDUSD increased 0.00064 or 0.10% to 0.64304
• NZDUSD increased 0.00183 or 0.31% to 0.59203
• USDJPY increased 0.235 or 0.16% to 147.315
• USDCNY decreased 0.03012 or -0.41% to 7.27150

The above data was collected around 12.25 EST.

Precious Metals:

• Gold decreased 2.20 USD/t oz. or -0.12% to 1,911.06
• Silver decreased 0.240 USD/t. oz or -1.04% to 22.865

The above data was collected around 12:29 EST.

Some economic news from last night:

Japan:

BSI Large Manufacturing Conditions (Q3) increased from -0.4 to 5.4

No economic news from today:

EUROPE/EMEA:

The major Europe stock markets had a negative day today:

• CAC 40 decreased 30.31 points or -0.42% to 7,222.57
• FTSE 100 decreased 1.54 points or -0.02% to 7,525.99
• DAX 30 decreased 61.50 points or -0.39% to 15,654.03

The major Europe currency markets had a mixed day today:

• EURUSD decreased 0.00085 or -0.08% to 1.07435
• GBPUSD increased 0.00144 or 0.12% to 1.24984
• USDCHF increased 0.00083 or 0.09% to 0.89193

The above data was collected around 12:34 EST.

Some economic news from Europe today:

UK:

GDP (MoM) (Jul) decreased from 0.5% to -0.5%

Industrial Production (MoM) (Jul) decreased from 1.8% to -0.7%

Manufacturing Production (MoM) (Jul) decreased from 2.4% to -0.8%

Monthly GDP 3M/3M Change (Jul) remain the same at 0.2%

Trade Balance (Jul) increased from -15.46B to -14.06B

Trade Balance Non-EU (Jul) increased from -2.77B to -2.36B

NIESR Monthly GDP Tracker remain the same at 0.2%

Euro Zone:

Industrial Production (MoM) (Jul) decreased from 0.4% to -1.1%

US/AMERICAS:

The US Bureau of Labor Statistics has reported that the August 2023 consumer price index rose 3.7% on an annual basis, mostly due to a spike in gasoline prices in August. The increase should be temporary, according to economists. The inflationary pressures are due to an imbalance between supply and demand, which has been felt globally during the pandemic era. The CPI is a key barometer of inflation, measuring prices of anything from fruits and vegetables to haircuts and concert tickets. The core CPI, which excludes food and energy, rose 0.3% in August, slightly above expectations of 0.2%.

US Market Closings:

• Dow declined 70.46 points or -0.2% to 34,575.53
• S&P 500 advanced 5.54 points or 0.12% to 4,467.44
• Nasdaq advanced 39.97 points or 0.29% to 13,813.59
• Russell 2000 declined 14.48 points or -0.78% to 1,840.84

Canada Market Closings:

• TSX Composite advanced 55.86 points or 0.28% to 20,278.94
• TSX 60 advanced 4.63 points or 0.38% to 1,217.25

Brazil Market Closing:

• Bovespa advanced 207.85 points or 0.18% to 118,175.97

ENERGY:

The oil markets had a mixed day today:

• Crude Oil decreased 0.343 USD/BBL or -0.39% to 88.497
• Brent decreased 0.403 USD/BBL or -0.44% to 91.657
• Natural gas decreased 0.0539 USD/MMBtu or -1.97% to 2.6891
• Gasoline decreased 0.0163 USD/GAL or -0.60% to 2.7116
• Heating oil increased 0.0964 USD/GAL or 2.90% to 3.4247

The above data was collected around 12:38 EST.

• Top commodity gainers: Heating Oil (2.90%), Wheat (1.33%), Cheese (1.42%) and Cocoa (2.15%)
• Top commodity losers: Cotton (-2.58%), Orange Juice (-1.75%), HRC Steel (-1.55%) and Natural Gas (-1.97%)

The above data was collected around 12:44 EST.

BONDS:

Japan 0.714% (+0.4bp), US 2’s 4.98% (-0.025%), US 10’s 4.2504% (-1.36bps); US 30’s 4.33% (-0.014%), Bunds 2.638% (-0.3bp), France 3.182% (-0.5bp), Italy 4.443% (+3.3bp), Turkey 22.04% (+89bp), Greece 4.07% (+2.4bp), Portugal 3.4270% (+5.2bp); Spain 3.702% (+0.1bp) and UK Gilts 4.339% (-7.7bp)

The above data was collected around 12:48 EST.