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    Market Talk – August 9, 2023 | Armstrong Economics

    kitsiosgeo by kitsiosgeo
    August 9, 2023
    in Economy
    0
    Market Talk – August 9, 2023 | Armstrong Economics

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    ASIA:

     

    The major Asian stock markets had a mixed day today:

    NIKKEI 225 decreased 172.96 points or -0.53% to 32,204.33
    Shanghai decreased 16.13 points or -0.49% to 3,244.49
    Hang Seng increased 61.86 points or 0.32% to 19,246.03
    ASX 200 increased 26.90 points or 0.37% to 7,338.00
    Kospi increased 31.14 points or 1.21% to 2,605.12
    SENSEX increased 149.31 points or 0.23% to 65,995.81
    Nifty50 increased 61.70 points or 0.32% to 19,632.55

     

     

    The major Asian currency markets had a mixed day today:

    AUDUSD decreased 0.00159 or -0.24% to 0.65271
    NZDUSD decreased 0.00107 or -0.18% to 0.60533
    USDJPY increased 0.061 or 0.04% to 143.431
    USDCNY decreased 0.00868 or -0.12% to 7.22862

     

    Precious Metals:

    Gold decreased 7.61 USD/t oz. or -0.40% to 1,917.21
    Silver decreased 0.087 USD/t. oz or -0.38% to 22.673

     

    Some economic news from last night:

    China:

    CPI (MoM) (Jul) increased from -0.2% to 0.2%

    CPI (YoY) (Jul) decreased from 0.0% to -0.3%

    PPI (YoY) (Jul) increased from -5.4% to -4.4%

    New Zealand:

    Electronic Card Retail Sales (MoM) (Jul) decreased from 0.9% to 0.0%

    Inflation Expectations (QoQ) remain the same at 2.8%

     

    No economic news from today:

     

     

    EUROPE/EMEA:

     

    The major Europe stock markets had a green day today:

    CAC 40 increased 52.57 points or 0.72% to 7,322.04
    FTSE 100 increased 59.88 points or 0.80% to 7,587.30
    DAX 30 increased 77.65 points or 0.49% to 15,852.58

     

    The major Europe currency markets had a mixed day today:

    EURUSD increased 0.00243 or 0.22% to 1.09783
    GBPUSD decreased 0.00218 or -0.17% to 1.27242
    USDCHF increased 0.00153 or 0.17% to 0.87693

     

     

    US/AMERICANS:

    Moody’s has downgraded the ratings of several U.S. banks and placed others under review for potential downgrades, citing concerns over rising deposit costs and increased use of wholesale funding. The downgrades and outlook warnings indicate ongoing pressure on the banking industry following the collapse of Silicon Valley Bank. Banks have been forced to pay customers more for deposits, outpacing the growth in earnings from loans. The boost from higher interest rates has diminished, and falling margins have affected credit considerations for several banks. Among the banks impacted by the downgrades and review are U.S. Bank, Fifth Third, Capital One, PNC, M&T Bank, Pinnacle Financial, BOK Financial, Webster Financial, Bank of New York Mellon, State Street, and Northern Trust. The downgrades and potential downgrades highlight the strains faced by the banking sector

    US Market Closings:

    Dow declined 191.13 points or -0.54% to 35,123.36
    S&P 500 declined 31.67 points or -0.7% to 4,467.71
    Nasdaq declined 162.31 points or -1.17% to 13,722.02
    Russell 2000 declined 16.65 points or -0.86% to 1,930.77

     

    Canada Market Closings:

    TSX Composite advanced 69.29 points or 0.34% to 20,275.27
    TSX 60 advanced 5.84 points or 0.48% to 1,215.13

     

    Brazil Market Closing:

    Bovespa declined 681.47 points or -0.57% to 118,408.77

     

    ENERGY:

     

    The oil markets had a green day today:

     

    Crude Oil increased 0.04 USD/BBL or 0.05% to 82.960
    Brent increased 0.211 USD/BBL or 0.24% to 86.381
    Natural gas increased 0.1752 USD/MMBtu or 6.31% to 2.9522
    Gasoline increased 0.048 USD/GAL or 1.69% to 2.8931
    Heating oil increased 0.0728 USD/GAL or 2.36% to 3.1584

     

    The above data was collected around 12:50 EST on Wednesday

     

    Top commodity gainers: Natural Gas (6.31%), Heating Oil (2.36%), Palm Oil (2.11%) and Orange Juice (1.80%)
    Top commodity losers: Wheat (-2.36%), Cocoa (-1.26%), Rapeseed (-1.24%) and Platinum (-1.40%)

     

    The above data was collected around 12:59 EST Wednesday.

     

     

    BONDS:

     

    Japan 0.588% (-2.5bp), US 2’s 4.78% (+0.027%), US 10’s 4.0061% (-1.79bps); US 30’s 4.18% (-0.024%), Bunds 2.473% (+3.1bp), France 3.035% (+3.2bp), Italy 4.143% (+1bp), Turkey 17.73% (-38bp), Greece 3.821% (+2bp), Portugal 3.248% (+3.5bp); Spain 3.53% (+2.4bp) and UK Gilts 4.372% (-1.2bp).

    « Market Talk – August 8, 2023

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