ASIA:
India’s September fuel consumption crawled higher month-on-month as economic activity continued to ramp up, government data showed on Wednesday, but soaring global oil prices could stall a recovery in the world’s third-largest oil importer and consumer. Fuel consumption, a proxy for oil demand, totaled 15.92 million tonnes last month, up slightly from August and 5.2% higher than in September 2020, data on the Petroleum Planning and Analysis Cell (PPAC) website showed. Consumption of diesel, which usual accounts for about 40% of refined fuel sales, also eased 1.7% month-on-month to 5.51 million tonnes, and was 5.6% lower compared with September 2019.
The major Asian stock markets had a mixed day today:
- NIKKEI 225 increased 410.65 or 1.46% to 28,550.93
- Shanghai decreased 3.48 or -0.10% to 3,558.28
- Hang Seng closed
- ASX 200 increased 39.20 points or 0.54% to 7,311.70
- Kospi increased 44.23 points or 1.50% to 2,988.64
- SENSEX increased 568.90 points or 0.94% to 61,305.95
- Nifty50 increased 176.80 points or 0.97% to 18,338.55
The major Asian currency markets had a green day today:
- AUDUSD increased 0.00306 or 0.41% to 0.74094
- NZDUSD increased 0.00547 or 0.78% to 0.70229
- USDJPY increased 0.37 or 0.32% to 113.68
- USDCNY increased 0.00869 or 0.14% to 6.43763
Precious Metals:
- Gold increased 4.22 USD/t oz. or 0.24% to 1,796.87
- Silver increased 0.403 USD/t. oz or 1.75% to 23.468
Some economic news from last night:
China:
CPI (MoM) (Sep) decreased from 0.1% to 0.0%
CPI (YoY) (Sep) decreased from 0.8% to 0.7%
PPI (YoY) (Sep) increased from 9.5% to 10.7%
Japan:
Foreign Bonds Buying decreased from 1,194.5B to 139.8B
Foreign Investments in Japanese Stocks increased from -332.7B to 1,013.5B
South Korea:
Export Price Index (YoY) (Sep) increased from 18.9% to 20.2%
Import Price Index (YoY) (Sep) increased from 22.4% to 26.8%
Australia:
MI Inflation Expectations decreased from 4.4% to 3.6%
Employment Change (Sep) increased from -146.3K to -138.0K
Full Employment Change (Sep) increased from -68.0K to 26.7K
Participation Rate (Sep) decreased from 65.2% to 64.5%
Unemployment Rate (Sep) increased from 4.5% to 4.6%
Singapore:
GDP (QoQ) (Q3) increased from -1.4% to 0.8%
GDP (YoY) (Q3) decreased from 15.2% to 6.5%
Some economic news from today:
China:
M2 Money Stock (YoY) increased from 8.2% to 8.3%
New Loans increased from 1,220.0B to 1,660.0B
Outstanding Loan Growth (YoY) decreased from 12.1% to 11.9%
Chinese Total Social Financing decreased from 2,960.0B to 2,900.0B
Japan:
Capacity Utilization (MoM) (Aug) decreased from -3.4% to -3.9%
Industrial Production (MoM) (Aug) decreased from -3.2% to -3.6%
India:
WPI Food (YoY) (Sep) decreased from -1.29% to -4.69%
WPI Fuel (YoY) (Sep) decreased from 26.09% to 24.81%
WPI Inflation (YoY) (Sep) decreased from 11.39% to 10.66%
WPI Manufacturing Inflation (YoY) (Sep) increased from 11.39% to 11.41%
Exports (USD) (Sep) increased from 33.44B to 33.80B
Imports (USD) (Sep) increased from 56.38B to 56.40B
Trade Balance (Sep) increased from -22.94B to -22.60B
Indonesia:
Motorbike Sales (YoY) (Oct) decreased from 48.20% to 22.00%
EUROPE/EMEA:
The Bank of England’s deputy governor for financial stability, Jon Cunliffe, has warned that cryptocurrencies could spark a global financial crisis unless tough regulations are introduced. In a speech Wednesday, Cunliffe likened the rate of growth of the crypto-asset market, from $16 billion five years ago to $2.3 trillion today, to the $1.2 trillion subprime mortgage market in 2008. His comments echo those of Bank of England Governor Andrew Bailey in May, who cautioned that cryptocurrency investors should be prepared to lose all their money due to the assets’ lack of “intrinsic value.” Bitcoin and ethereum, the two largest cryptocurrencies, plunged more than 30% in value earlier this year before recovering and have proven extremely volatile since their creation. Prices are susceptible to a variety of external triggers, from comments by Tesla CEO Elon Musk to regulatory crackdowns by the Chinese government.
The major Europe stock markets had a green day:
- CAC 40 increased 87.83 points or 1.33% to 6,685.21
- FTSE 100 increased 65.89 points or 0.92% to 7,207.71
- DAX 30 increased 213.34 points or 1.40% to 15,462.72
The major Europe currency markets had a mixed day today:
- EURUSD decreased 0.00075 or -0.06% to 1.15892
- GBPUSD increased 0.00115 or 0.08% to 1.36796
- USDCHF decreased 0.00031 or -0.03% to 0.92372
Some economic news from Europe today:
Swiss:
PPI (MoM) (Sep) decreased from 0.7% to 0.2%
PPI (YoY) (Sep) increased from 4.4% to 4.5%
Spain:
Spanish CPI (YoY) (Sep) increased from 3.3% to 4.0%
Spanish CPI (MoM) (Sep) increased from 0.5% to 0.8%
Spanish HICP (MoM) (Sep) increased from 0.4% to 1.1%
Spanish HICP (YoY) (Sep) increased from 3.3% to 4.0%
UK:
Thomson Reuters IPSOS PCSI (Oct) decreased from 54.1 to 52.4
Italy:
Italy Thomson Reuters IPSOS PCSI (Oct) increased from 48.31 to 48.33
Germany:
Germany Thomson Reuters IPSOS PCSI (Oct) increased from 55.14 to 56.68
France:
France Thomson Reuters IPSOS PCSI (Oct) decreased from 49.03 to 46.61
US/AMERICAS:
America’s workforce is beginning to recover. Jobless claims hit a post-pandemic low of 293,000 during the week of October 9, beating analysts’ estimates of 318,000, and marking the first time claims fell below 300,000 since the pandemic began. The US Labor Department noted that first time claims fell 36,000 from the week prior, which brings the four-week moving average to 334,250. Continuing claims also declined by 134,000 to 2.59 million, marking another low.
Foreclosures are on the rise in the US, according to data firm ATTOM, which noted 25,209 entered foreclosure in Q3. This is a 32% rise from Q2, and a 67% rise YoY. Foreclosures or starts typically average 40,000 per month but fell to the 3,000 to 4,000 range during 2020 due to forbearance programs. Borrowers has been permitted to delay their payment for up to 18 months, and now many are unable to meet their debts. The states impacted the most are California (3,434), Texas (2,827), Florida (2,546), New York (1,363), and Illinois (1,362).
US Market Closings:
- Dow advanced 534.75 points or 1.56% to 34,912.56
- S&P 500 advanced 74.46 points or 1.71% to 4,438.26
- Nasdaq advanced 251.79 points or 1.73% to 14,823.43
- Russell 2000 advanced 32.21 points or 1.44% to 2,274.18
Canada Market Closings:
- TSX Composite advanced 201.47 points or 0.98% to 20,819.94
- TSX 60 advanced 12.01 points or 0.97% to 1,247.24
Brazil Market Closing:
- Bovespa declined 270.44 points or -0.24% to 113,185.48
ENERGY:
The oil markets had a green day today:
- Crude Oil increased 0.73 USD/BBL or 0.91% to 81.1700
- Brent increased 0.7 USD/BBL or 0.84% to 83.8800
- Natural gas increased 0.177 USD/MMBtu or 3.17% to 5.7670
- Gasoline increased 0.0239 USD/GAL or 0.99% to 2.4294
- Heating oil increased 0.0283 USD/GAL or 1.12% to 2.5494
The above data was collected around 13:46 EST on Thursday
- Top commodity gainers: Zinc (3.06%) and Natural Gas (3.17%), Platinum (3.17%) and Cotton (3.43%)
- Top commodity losers: Methanol (-6.27%), Palm Oil (-2.87%), Steel (-1.96%), and Lithium (-7.30%)
The above data was collected around 13:55 EST on Thursday.
BONDS:
Japan 0.082%(-0.7bp), US 2’s 0.36%(-0.004%), US 10’s 1.5212%(-2.08bps); US 30’s 2.0266%(-0.01%),Bunds -0.190% (-6.1bp), France 0.1450% (-6.1bp), Italy 0.8358% (-6.58bp), Turkey 18.83% (+25bp), Greece 0.9340% (+1bp), Portugal 0.370% (-1.1bp); Spain 0.451% (-4.86bp) and UK Gilts 1.036% (-5.3bp).
