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Market Talk – December 21, 2021

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Chinese economic growth rate is expected to slump below 5 percent following the property crisis, industrial slump, weak consumption, and the fallout from COVID-19-led lockdowns. Think-tank China Finance 40 Forum, which has the deputy governor of the People’s Bank of China (PBOC) as a member, has expressed concerns over growth rate remaining below 5 percent in case domestic demand fails to improve, reported the Singapore Post. Global financial services group Nomura has cut economic growth for China in 2022 sharply- 2.9 percent in the first quarter and 3.8 percent in the second quarter.

The major Asian stock markets had a green day today:

  • NIKKEI 225 increased 579.78 points or 2.08% to 28,517.59
  • Shanghai increased 31.52 or 0.88% to 3,625.13
  • Hang Seng increased 226.47 points or 1.00% to 22,971.33
  • ASX 200 increased 62.80 points or 0.86 to 7,355.00
  • Kospi increased 12.03 points or 0.41% to 2,975.03
  • SENSEX increased 497.00 points or 0.89% to 56,319.01
  • Nifty50 increased 156.65 points or 0.94% to 16,770.85



The major Asian currency markets had a mixed day today:

  • AUDUSD increased 0.00399 0.56 to 0.71499
  • NZDUSD increased 0.00491 0.73 to 0.67627
  • USDJPY increased 0.49 or 0.43 to 114.17
  • USDCNY deceased 0.00647 or -0.10% to 6.37616


Precious Metals:

  • Gold decreased 1.02 USD/t oz. or -0.06% to 1,788.30
  • Silver increased 0.28 USD/t. oz or 1.26% to 22.512


Some economic news from last night:

South Korea:

PPI (MoM) (Nov) decreased from 1.0% to 0.5%

PPI (YoY) (Nov) increased from 9.1% to 9.6%


Some economic news from today:

Hong Kong:

CPI (YoY) (Nov) increased from 1.70% to 1.80%



The IHS Markit flash purchasing managers’ index (PMI) data show the UK economy being hit once again by COVID-19, with growth slowing sharply at the end of the year led by a steep drop in spending on services by households. Some brighter news came through from manufacturing, where an easing of supply chain delays helped lift production growth. With COVID-19 infections set to rise further in coming weeks due to the spread of the Omicron variant, and more restrictions being introduced, the pace of economic growth looks likely to continue to weaken as the country heads into 2022, IHS Markit said in a press release. The bigger uncertainty will be on how rising global infection rates might cause further supply and labor shortages and whether this means the easing of inflationary pressures seen in December proves frustratingly short-lived. The IHS Markit-Chartered Institute of Procurement and Supply (CIPS) composite PMI output index, covering both services and manufacturing, fell from 57.6 in November to 53.2 in December, according to the early ‘flash’ reading, indicating the slowest rate of expansion since the lockdowns at the start of the year.

The major Europe stock markets had a green day:

  • CAC 40 increased 94.89 points or 1.38% to 6,964.99
  • FTSE 100 increased 99.38 points or 1.38% to 7,297.41
  • DAX 30 increased 207.77 points or 1.36% to 15,447.44


The major Europe currency markets had a mixed day today:

  • EURUSD decreased 0.00013 or -0.01% to 1.12741
  • GBPUSD increased 0.00496 or 0.38% to 1.32590
  • USDCHF increased 0.00263 or 0.29% to 0.92435



Some economic news from Europe today:


GfK German Consumer Climate (Jan) decreased from -1.8 to -6.8


Public Sector Net Cash Requirement (Nov) decreased from 61.552B to 36.980B


Disney CEO Bob Iger announced today that Disney+ is aiming to cast a wider net over the streaming industry. Disney stated it is aiming to reach around 230 million to 260 million Disney+ subscribers by 2024. As of November, the company had less than half that amount at 118.1 million. Iger hinted that the company may produce more content to attract a larger audience outside of the typical adolescent age-range.

The US Secret Service announced that $100 billion in pandemic relief funds are missing. Hackers and fraudsters stole billions from the Economic Injury Disaster Loan program and Small Business Paycheck Protection Program. Only $2.3 billion had been recovered and 100 suspects have been apprehended. Special Agent Charge Roy Dotson said this is the most complex fraud investigation he has handled in over 29 years. There are currently over 900 ongoing investigations.

US Market Closings:

  • Dow advanced 560.97 points or 1.61% to 35,493.13
  • S&P 500 advanced 81.22 points or 1.78% to 4,649.24
  • Nasdaq advanced 360.14 points or 2.4% to 15,341.09
  • Russell 2000 advanced 63.7 points or 2.95% to 2,202.95


Canada Market Closings:

  • TSX Composite advanced 386.65 points or 1.88% to 20,924.87
  • TSX 60 advanced 22.11 points or 1.77% to 1,270.45


Brazil Market Closing:

  • Bovespa advanced 480.1 points or 0.46% to 105,499.88




The oil markets had a green day today:


  • Crude Oil increased 2.58 USD/BBL or 3.76% to 71.1900
  • Brent increased 2.49 USD/BBL or 3.48% to 74.0100
  • Natural gas increased 0.069 USD/MMBtu or 1.80% to 3.9030
  • Gasoline increased 0.0631 USD/GAL or 3.02% to 2.1531
  • Heating oil increased 0.0824 USD/GAL or 3.79% to 2.2554


The above data was collected around 14:05 EST on Tuesday


  • Top commodity gainers: Crude Oil (3.76%) and Heating Oil (3.79%), Aluminum (3.62%), Lean Hogs (3.74%)
  • Top commodity losers: Lumber (-3.07%), Methanol (-1.89%), Orange Juice (-0.28%), and Steel (-0.19%)


The above data was collected around 14:15 EST on Tuesday.





Japan 0.06%(+2.1bp), US 2’s 0.6766% (+0.04%), US 10’s 1.4874%(+5.98bps); US 30’s 1.9025% (+0.05%), Bunds -0.298% (+6.8bp), France -0.065% (+7.4bp), Italy 1.021% (+8.5bp), Turkey 22.51% (-16bp), Greece 1.282% (+4.2bp), Portugal 0.369% (+9.5bp); Spain 0.474% (+11.01bp) and UK Gilts 0.89% (+11.7bp).