Market Talk – February 24, 2023

ASIA:

Today was a mixed day for major Asian stock markets:

  • The NIKKEI 225 rose 349.16 points or 1.29% to trade at 27,453.48.
  • Shanghai fell 20.32 points or -0.62% to 3267.16.
  • The Hang Seng was down 341.31 points or -1.68% to hit 20,010.04.
  • The ASX 200 rose 21.60 points, or 0.30%, to 7,307.00.
  • Kospi fell 15.48 points or -0.63% to 2423.61.
  • SENSEX was down 141.87 points or -0.24% to 59,463.93.
  • Nifty50 fell 45.45 points or -0.26% to 17,465.80.

Today was a mixed day for the major Asian currency markets:

  • AUDUSD fell 0.0071 or -1.04% to hit 0.67360.
  • NZDUSD fell 0.00616 or -0.99% to hit 0.61644.
  • USDJPY rose 1.636 or 1.21% to hit 136.336.
  • USDCNY rose 0.05776 or 0.84% ​​to hit 6.97506

Precious metals:

  • Gold fell by $10.21/t. or -0.56% to 1,812.43
  • Silver fell by $0.405/t. ounces or -1.90% to 20,887

Some economic news from last night:

Japan:
National Core CPI (YoY) (January) up from 4.0% to 4.2%

Some economic news for today:

India:

The growth of bank loans decreased from 16.3% to 16.1%.

Deposit growth decreased from 10.5% to 10.2%

Foreign exchange reserves in US dollars decreased from 566.95 billion to 561.27 billion US dollars.

EUROPE/EMEA:

There was a negative day on the main European stock markets:

  • CAC 40 decreased by 130.16 points or -1.78% to 7,187.27.
  • The FTSE 100 fell 29.06 points or -0.37% to 7,878.66.
  • The DAX 30 was down 265.95 points, or -1.72%, at 15,209.74.

Today was a mixed day in the major European currency markets:

  • EURUSD fell 0.00492 or -0.46% to hit 1.05458.
  • GBPUSD fell 0.0063 or -0.52% to hit 1.19500.
  • USDCHF rose 0.0063, or 0.67%, to hit 0.94010.

Some economic news from Europe today:

Germany:

German GDP (YoY) (Q4) fell from 0.5% to 0.3%

German GDP (QoQ) (Q4) fell from -0.2% to -0.4%

GfK consumer climate in Germany (March) increased from -33.8 to -30.5.

Switzerland:
The employment rate (Q4) increased from 5.362 million to 5.398 million.

USA/AMERICA:

US Market Closing:

  • The Dow was down 336.99 points, or -1.02%, at 32,816.92.
  • The S&P 500 fell 42.28 points or -1.05% to 3970.04.
  • The Nasdaq fell 195.46 points or -1.69% to 11,394.94.
  • Russell 2000 fell 17.61 points or -0.92% to 1890.49.

Closing the Canadian market:

  • The TSX Composite rose 31 points, or 0.15%, to 20,219.19.
  • The TSX 60 edged up 2.52 points or 0.21% to hit 1218.17.

Brazil Market Closing:

  • Bovespa fell 1,794.44 points or -1.67% to 105,798.43.

ENERGY:

Oil markets have had a mixed day today:

  • Crude oil rose $0.566/bbl, or 0.75%, to $75.956.
  • Brent rose $0.835/bbl, or 1.02%, to $83.045.
  • The price of natural gas rose $0.091/MMBtu, or 3.74%, to $2.5230.
  • Gasoline was down $0.0224/gallon, or -0.94%, at $2.3571.
  • Heating oil rose $0.049/gallon, or 1.81%, to $2.7571.

The above data was collected around 12:07 pm EST on Friday.

  • Commodity growth leaders: orange juice (3.90%), hot-rolled steel (2.76%), natural gas (3.74%) and cotton (3.12%).
  • The main losers were copper (-2.30%), platinum (-3.61%), wheat (-3.41%) and palladium (-4.38%).

The above data was collected around 12:13 pm EST on Friday.

BONDS:

Japan 0.500% (-0.5 bp), USA 2 4.83% (+0.133%), USA 10 3.9628% (+8.18 bp); US 30’s 3.94% (+0.067%), Bunds 2.538% (+6.3 bp), France 3.019% (+7.4 bp), Italy 4.437% (+6.7 bp) p.), Turkey 10.23% (+0 b.p.), Greece 4.43% (+0 b.p.). 3.2 bp), Portugal 3.445% (+8.6 bp); Spain 3.592% (+7.4 bp) and UK gilts 3.661% (+7.1 bp).