Market Talk – October 6, 2023

ASIA:

The major Asian stock markets had a mixed day today:

• NIKKEI 225 decreased 80.69 points or -0.26% to 30,994.67
• Shanghai closed
• Hang Seng increased 272.11 points or 1.58% to 17,485.98
• ASX 200 increased 28.70 points or 0.41% to 6,954.20
• Kospi increased 5.13 points or 0.21% to 2,408.73
• SENSEX increased 364.06 points or 0.55% to 65,995.63
• Nifty50 increased 107.75 points or 0.55% to 19,653.50

The major Asian currency markets had a mixed day today:

• AUDUSD increased 0.00248 or 0.39% to 0.63938
• NZDUSD increased 0.00339 or 0.57% to 0.59979
• USDJPY increased 0.562 or 0.38% to 149.062
• USDCNY decreased 0.00596 or -0.08% to 7.29864

The above data was collected around 11.41 EST.

Precious Metals:

• Gold increased 12.66 USD/t oz. or 0.70% to 1,832.67
• Silver increased 0.633 USD/t. oz or 3.03% to 21.533

The above data was collected around 11:46 EST.

Some economic news from last night:

Japan:

Household Spending (YoY) (Aug) increased from -5.0% to -2.5%

Household Spending (MoM) (Aug) increased from -2.7% to 3.9%

Australia:

Retail Sales (MoM) decreased from 0.5% to 0.2%

Some economic news from today:

India:

Interest Rate Decision remain the same at 6.50%

EUROPE/EMEA:

The major Europe stock markets had a green day today:

• CAC 40 increased 61.90 points or 0.88% to 7,060.15
• FTSE 100 increased 43.04 points or 0.58% to 7,494.58
• DAX 30 increased 159.55 points or 1.06% to 15,229.77

The major Europe currency markets had a mixed day today:

• EURUSD increased 0.00492 or 0.47% to 1.05972
• GBPUSD increased 0.00668 or 0.55% to 1.22568
• USDCHF decreased 0.0041 or -0.45% to 0.90800

The above data was collected around 11:53 EST.

Some economic news from Europe today:

Germany:

German Factory Orders (MoM) (Aug) increased from -11.3% to 3.9%

UK:

Halifax House Price Index (YoY) (Sep) decreased from -4.5% to -4.7%

Halifax House Price Index (MoM) (Sep) increased from -1.8% to -0.4%

Mortgage Rate (GBP) (Sep) increased from 7.85% to 7.93%

US/AMERICAS:

In September 2023, the U.S. job market showed strong growth, with nonfarm payrolls increasing by 336,000, surpassing the Dow Jones consensus estimate of 170,000. This growth was led by the leisure and hospitality sector, followed by government and healthcare. The unemployment rate stood at 3.8%, slightly higher than the forecasted 3.7%. Average hourly earnings rose 0.2% for the month and 4.2% from a year ago. In addition to the robust September numbers, the previous two months saw substantial upward revisions, with August’s gain revised to 227,000 and July’s to 236,000. The U.S. economy’s resilience in the face of higher interest rates, labor strife, and dysfunction in Washington is evident in this strong job growth, indicating a positive outlook for the country’s economic recovery.

US Market Closings:

• Dow advanced 288.01 points or 0.87% to 33,407.58
• S&P 500 advanced 50.31 points or 1.18% to 4,308.5
• Nasdaq advanced advanced 211.51 or 1.6% to 13,431.43
• Russell 2000 advanced 14.05 points or 0.81% to 1,745.56

Canada Market Closings:

• TSX Composite advanced 108.26 points or 0.57% to 19,246.07
• TSX 60 advanced 5.11 points or 0.44% to 1,154.14

Brazil Market Closing:

• Bovespa advanced 114,330.73 points or 0.92% to 114,330.73

ENERGY:

The oil markets had a green day today:

• Crude Oil increased 0.586 USD/BBL or 0.71% to 82.896
• Brent increased 0.523 USD/BBL or 0.62% to 84.593
• Natural gas increased 0.1317 USD/MMBtu or 4.16% to 3.2977
• Gasoline increased 0.0179 USD/GAL or 0.82% to 2.2069
• Heating oil increased 0.023 USD/GAL or 0.80% to 2.8917

The above data was collected around 12:03 EST.

• Top commodity gainers: Natural Gas (4.16%), Silver (3.03%), Rice (2.14%) and Platinum (2.83%)
• Top commodity losers: HRC Steel (-1.28%), Soybeans (-0.92%), Oat (-1.07%) and Wheat (-1.63%)

The above data was collected around 12:14 EST.

BONDS:

Japan 0.808% (+0.3bp), US 2’s 5.09% (+0.063%), US 10’s 4.7778% (+6.18bps); US 30’s 4.93% (+0.038%), Bunds 2.888% (+0.3bp), France 3.475% (+0.6bp), Italy 4.913% (+1.2bp), Turkey 25.16% (+0bp), Greece 4.413% (+5.6bp), Portugal 3.656% (+2bp); Spain 4.012% (+0.5bp) and UK Gilts 4.578% (+3.3bp)

The above data was collected around 12:18 EST.