Market Talk – December 21, 2022

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ASIA:

 

The major Asian stock markets had a mixed day today:

 

  • NIKKEI 225 decreased 180.31 points or -0.68% to 26,387.72
  • Shanghai decreased 5.36 points or -0.17% to 3,068.41
  • Hang Seng increased 65.69 points or 0.34% to 19,160.49
  • ASX 200 increased 90.80 points or 1.29% to 7,115.10
  • Kospi decreased 4.34 points or -0.19% to 2,328.95
  • SENSEX decreased 635.05 points or -1.03% to 61,067.24
  • Nifty50 decreased 186.20 points or -1.01% to 18,199.10

 

 

The major Asian currency markets had a mixed day today:

  • AUDUSD increased 0.00157 or 0.24% to 0.66927
  • NZDUSD decreased 0.00635 or -1.00% to 0.62835
  • USDJPY increased 0.691 or 0.52% to 132.391
  • USDCNY increased 0.03388 or 0.49% to 6.99318

 

Precious Metals:

  • Gold increased 0.47 USD/t oz. or 0.03% to 1,817.88
  • Silver decreased 0.105 USD/t. oz or -0.43% to 24.060

 

Some economic news from last night:

New Zealand:

Trade Balance (MoM) (Nov) increased from -2,298M to -1,863M

Trade Balance (YoY) (Nov) decreased from -13,860M to -14,630M

 

 

 

EUROPE/EMEA:

 

The major Europe stock markets had a green day:

  • CAC 40 increased 129.81 points or 2.01% to 6,580.24
  • FTSE 100 increased 126.70 points or 1.72% to 7,497.32
  • DAX 30 increased 213.16 points or 1.54% to 14,097.82

 

The major Europe currency markets had a mixed day today:

  • EURUSD decreased 0.00232 or -0.22% to 1.05978
  • GBPUSD decreased 0.01223 or -1.00% to 1.20587
  • USDCHF increased 0.0013 or 0.14% to 0.92730

 

Some economic news from Europe today:

Germany:

GfK German Consumer Climate (Jan) increased from -40.1 to -37.8

 

US/AMERICAS:

TD Bank noted that British Columbia will continue to outperform other provinces for this fiscal year. The B.C. economy is poised to post a growth of 3.1% in 2022, but analysts believe growth will begin to wane. Predictions of 2023 show a growth of only 0.5%, while 2024 is poised to represent only a 0.3% rise. The biggest contributing factor to slowing growth is the declining real estate sector, which is supposed to fall by 22.8% in 2023.

Bank of Canada governor Tiff Macklem noted that it has been an “intense year” for the world economy, and sympathized with Canadians suffering due to high inflation. The central bank recently came under fire when it was revealed that they were paying C$45 million bonuses to employees amid the pandemic. Macklem maintains that this move was not inflationary. Macklem predicts the Canadian economy will fall into a recession next year, and is warning those, especially with variable mortgages, to proceed with caution.

US Market Closings:

  • Dow advanced 526.74 points or 1.6% to 33,376.48
  • S&P 500 advanced 56.82 points or 1.49% to 3,878.44
  • Nasdaq advanced 162.26 points or 1.54% to 10,709.37
  • Russell 2000 advanced 28.92 points or 1.65% to 1,776.94

 

Canada Market Closings:

  • TSX Composite advanced 264.21 points or 1.37% to 19,571.1
  • TSX 60 advanced 14.39 points or 1.23% to 1,181.47

 

Brazil Market Closing:

  • Bovespa advanced 569.03 points or 0.53% to 107,433.14

 

ENERGY:

 

The oil markets had a green day today:

 

  • Crude Oil increased 1.689 USD/BBL or 2.22% to 77.919
  • Brent increased 2.093 USD/BBL or 2.62% to 82.083
  • Natural gas increased 0.1424 USD/MMBtu or 2.67% to 5.4684
  • Gasoline increased 0.0217 USD/GAL or 0.98% to 2.2445
  • Heating oil increased 0.0424 USD/GAL or 1.39% to 3.1013

 

The above data was collected around 12:35 EST on Wednesday

 

  • Top commodity gainers: Brent (2.62%), Natural Gas (2.67%), Wheat (2.80%) and Oat (2.87%)
  • Top commodity losers: HRC Steel (-1.79%), Zinc (-2.17%), Palladium (-3.49%) and Platinum (-1.00%)

 

The above data was collected around 12:41 EST Wednesday.

 

 

BONDS:

 

Japan 0.500% (+7.9bp), US 2’s 4.23% (-0.032%), US 10’s 3.6917% (+0.77bps); US 30’s 3.76% (+0.023%), Bunds 2.311% (+1.2bp), France 2.841% (-0.1bp), Italy 4.42% (-5.7bp), Turkey 9.68% (-49bp), Greece 4.466% (+1.7bp), Portugal 3.334% (-2.7bp); Spain 3.394% (-1.4bp) and UK Gilts 3.568% (-2.8bp).