Skip to content

Market Talk – March 15, 2019

Spread the love

Market Talk 2017 300x200


At the conclusion of the annual National People’s Congress meeting, Chinese Premier Li Keqiang said that Beijing is prepared to support a slowing economy by cutting reserve requirements and interest rates if needed. Followed by the good news, the Shanghai Composite index increased 31.07 points (+1.04%) to 3,022 this Friday.

The rest of the major stock markets in Asia had a green day as well: NIKKEI 225 increased 163.83 points (0.77%) to 21,451, SENSEX increased 269.43 points (0.71%) to 38,024, KOSPI and Hang Seng increased 20.43 points (0.95%) to 2,176 and 160.87 points (0.56%) to 29,012 respectfully. However, ASX 200 took the opposite route decreased 4.40 points (-0.07%) to 6,175.

The major Asian currency markets experienced a mixed day. The AUDUSD and the NZDUSD increased 0.0022 or 0.30% to 0.7086 and 0.0025 or 0.36% to 0.6846 respectfully. The USDJPY and the USDCNY took the opposite route, decreasing 0.2260 or -0.20% to 111.4740 and 0.0087 or -0.13% to 6.7123 respectfully.

Both gold and silver closed in the green today: gold increased 5.87 USD/t oz. or 0.45% to 1,299.47 and silver increased 0.13 USD/t. oz or 0.86% to 15.3094.

Some data from yesterday late evening:

  • Indonesian’s Trade Balance (Feb) increased from -1.16B to 0.33B
  • Japan’s BoJ Interest Rate Decision remain the same at -0.10%
  • China-House Prices (YoY) (Feb) increased from 10.0% to 10.4%
  • China-FDI (Feb) increased from 4.8% to 5.5%

India posted new economic data today:

  • Indian- Exports (USD) (Feb) increased from 26.36B to 26.67B
  • Indian- Imports (USD) (Feb) decreased from 41.09B to 36.26B
  • Indian-Trade Balance (Feb) increased from -14.73B to -9.6B


The European major stock markets closed on a positive note this Friday. The FTSE 100 rose over 42 points (+0.6%) to 7228.28; CAC 40 increased over 55 points (+1.04%) to 5405.32 and DAX increased over 98 points (+0.85%) to 11685.69.

All the major European currencies increased against USD today.

The EURUSD increased 0.0019 or 0.17% to 1.1321 and The GBPUSD increased 0.0043 or 0.33% to 1.3282. The USDCHF decreased 0.0011 or 0.11% to 1.0026

Some economics news from Europe:

  • Eurozone- Core CPI (YoY) (Feb) decreased from 1.1% to 1.0%
  • Eurozone- Core CPI (MoM) (Feb) remain the same at 0.3%
  • Eurozone- CPI (MoM) (Feb) increased from -1.0% to 0.3%
  • Eurozone- CPI (YoY) (Feb) increased from 1.4% to 1.5%
  • German WPI (MoM) (Feb) increased from -0.7% to 0.3%
  • German WPI (YoY) (Feb) increased from 1.1% to 1.6%
  • Norway- Trade Balance (Feb) decreased from 28.8B to 15.8B
  • Italian Industrial New Orders (MoM) (Jan) increased from -1.4% to 1.8%
  • Italian Industrial New Orders (YoY) (Jan) increased from -4.7% to -1.2%
  • Italian Industrial Sales (MoM) (Jan) increased from -3.6% to 3.1%
  • Italian Industrial Sales (YoY) (Jan) increased from -7.4% to 0.6%
  • Italian CPI (MoM) (Feb) remain the same at 0.1%
  • Italian CPI (YoY) (Feb) remain the same at 1.0%
  • Italian HICP (YoY) (Feb) remain the same at 1.1%
  • Italian HICP (MoM) (Feb) remain the same at -0.3%


Wall Street ended the week on a bullish note after all major U.S. indexes closed in the green today. The Dow rose over 138 points (+0.54%, 25848.87 close), thanks in part by the recovery of Boeing shares. The S&P 500 closed its best week of the year (+2.9% on a weekly basis), with a daily gain of 14 points (+0.50%, 2822.48 close). The Nasdaq Composite rose by over 57 points (+0.76%, 7688.53 close), while the Russell 2K closed up over 3 points (+0.25%, 1553.54 close).

On the corporate side, semiconductor stocks had a particularly good day today: Broadcom Inc (AVGO) is up +8.24%, iShares PHLX Semiconductor ETF (SOXX) gained +2.9%, Acacia Communications, Inc. (ACIA) rose +1.35%, and Xilinx, Inc. (XLNX) rose +1.38%.

In Washington, President Trump vetoed a bill that would undo his national emergency declaration. “Congress has the freedom to pass this resolution, and I have the duty to veto it,” the President said. This was his first veto as President. This won’t be the last of it.

The USD Index slid -0.25% this Friday (last reading 96.55). The USD/CAD remained largely unchanged (+0.08%, last reading 1.3345).

Canadian indexes ended the week in positive territory. The TSX Composite rose +0.33% (16140.35 close) and the TSX 60 gained +0.38% (963.37 close).

Brazil’s Bovespa closed at 99,136.33 (+0.54%).


A red day for oil markets: Crude oil decreased 0.22 USD/BBL or 0.38% to 58.5047; Brent decreased 0.24 USD/BBL or 0.36% to 67.1165; Natural gas decreased 0.054 USD/MMBtu or 1.89% to 2.7959; Gasoline decreased 0.0027 USD/GAL or 0.15% to 1.8466 and Heating oil decreased 0.021 USD/GAL or 1.06% to 1.9626.

Top commodity gainers were Oat (6.54%), Lean Hogs (4.56%) and Corn (3.18%), while the biggest losers were Rubber (-1.94%), Heating oil (-1.06%) and Natural gas (-1.89%).


Japan -0.04%(+1bp), US 2’s 2.47% (+1bps), US 10’s 2.63%(+0bps), US 30’s 3.05%(+4bps), Bunds 0.09% (+0bp), France 0.46% (-1bp), Italy 2.50% (-0bp), Turkey 15.69% (+38bp), Greece 3.80% (-2bp), Portugal 1.31% (-2bp), Spain 1.21% (+1bp) and UK Gilts 1.21% (-1bp).