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Market Talk – October 26, 2021

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Singapore will allow people arriving from Australia and Switzerland to enter without having to quarantine from November 8, as the Southeast Asian nation takes another step in reopening borders and reviving its economy and status as an aviation hub. Fully vaccinated travelers from the two countries will be able to enter Singapore freely after taking Covid-19 polymerase chain reaction tests. Children under 12 who aren’t inoculated will be allowed if accompanied by someone who is eligible to use the so-called vaccinated travel lane, the Civil Aviation Authority of Singapore said Tuesday. Singapore recently opened travel lanes with some ten other countries, including the US, the UK, and Germany. South Korea will be added on November 15. Iswaran said earlier this month that more agreements are being considered with the likes of New Zealand and Japan. On Tuesday, he said Singapore hopes to conclude talks with some other countries soon, without naming any.

The major Asian stock markets had a mixed day today:

  • NIKKEI 225 increased 505.60 or 1.77% to 29,106.01
  • Shanghai decreased 12.22 or -0.34% to 3,597.64
  • Hang Seng decreased 93.76 points or -0.36% to 26,038.27
  • ASX 200 increased 2.40 points or 0.03 to 7,443.40
  • Kospi increased 28.54 points or 0.94% to 3,049.08
  • SENSEX increased 383.21 points or 0.63% to 61,350.26
  • Nifty50 increased 143.00 points or 0.79% to 18,268.40


The major Asian currency markets had a mixed day today:

  • AUDUSD increased 0.00071 or 0.09% to 0.74965
  • NZDUSD decreased 0.00104 or -0.15% to 0.71533
  • USDJPY increased 0.53 or 0.47% to 114.25
  • USDCNY increased 0.00056 or 0.01% to 6.38190


Precious Metals:

  • Gold decreased 18.38 USD/t oz. or -1.02% to 1,789.09
  • Silver decreased 0.557 USD/t. oz or -2.27% to 23.994


Some economic news from last night:


Corporate Services Price Index (CSPI) (YoY) decreased from 1.0% to 0.9%

South Korea:

GDP (QoQ) (Q3) decreased from 0.8% to 0.3%

GDP (YoY) (Q3) decreased from 6.0% to 4.0%


Some economic news from today:


BoJ Core CPI (YoY) increased from 0.3% to 0.6%


Industrial Production (MoM) (Sep) decreased from 5.6% to -2.8%

Industrial Production (YoY) (Sep) deceased from 11.0% to -3.4%

Hong Kong:

Exports (MoM) (Sep) decreased from 25.9% to 16.5%

Imports (MoM) (Sep) decreased from 28.1% to 23.5%

Trade Balance decreased from -26.3B to -42.4B


The Bank of England interest rate-setter Silvana Tenreyro said she needed more time to judge how the end of the government’s job-saving furlough scheme was affecting the labor market, adding to signs that she sees no urgency to raise rates. According to estimates, around 1 million workers were probably still on the government’s job retention scheme when it expired at the end of September, raising the risk of a rise in unemployment and under-employment. Tenreyro also said a rise in inflation pressures from surging energy prices was likely to fade quickly. The central bank’s new chief economist, Huw Pill, has said the question of whether to raise rates would be a “live” one at the BoE’s next meeting, which ends on November 4.

The European Central Bank appointed all 30 members of its new Digital Euro Market Advisory Group on October 25. The ECB said the board members will advise on the design and distribution options available for a potential central bank digital currency (CBDC). “Their expertise will facilitate the integration of prospective users’ and distributors’ views on a digital euro during the investigation phase,” said ECB board member Fabio Panetta.


The major Europe stock markets had a green day:

  • CAC 40 increased 53.64 points or 0.80% to 6,766.51
  • FTSE 100 increased 54.80 points or 0.76% to 7,277.62
  • DAX 30 increased 157.83 points or 1.01% to 15,757.06


The major Europe currency markets had a mixed day today:

  • EURUSD decreased 0.002 or -0.17% to 1.15885
  • GBPUSD increased 0.00032 or 0.02% to 1.37664
  • USDCHF increased 0.00031 or 0.03% to 0.92028


Some economic news from Europe today:


CBI Distributive Trades Survey (Oct) increased from 11 to 30


Spanish PPI (YoY) increased from 18.0% to 23.6%


Wall Street is in the green after two consecutive days of positive earnings reports, with both the Dow and S&P reaching all-time highs this Tuesday. Leading the historic trading day for the S&P 500 is the United Parcel Service (+7.43%), NVIDIA (+6.78%), Centene (5.09%), and Arista Networks (4.46%). UnitedHealth helped the Dow advance after advancing 1.68%, followed by Cisco (+1.67%), Proctor & Gamble (+1.45%), and Johnson & Johnson (1.06%).

GM announced plans to install 40,000 EV charging ports across the US and Canada. The company has pledged $750 million to move to electric, and it is not hard to see why. On Monday, Tesla surpassed $1 trillion in market value after Hertz announced plans to purchase 100,000 vehicles for its fleet. GM’s market capitalization now sits at $83.85 billion, but plans to capitalize on the growing trend of electric vehicles.

Democrats are hours away from passing a near $2 trillion spending plan to fund the Build Back Better agenda. To appease to the spectrum of beliefs among Democrats, the plan was slimed down from $3.5 trillion to $2 trillion at the time of this writing. The original proposal is being altered to align with the lower budget, but may include social programs such as universal preschool and an extension of the child tax credit. To partially fund the program, Democrats may seek a 15% minimum tax on corporations, and implement additional taxes on the highest-earning Americans.

US Market Closings:

  • Dow advanced 15.73 points or 0.04% to 35,756.88
  • S&P 500 advanced 8.31 points or 0.18% to 4,574.79
  • Nasdaq advanced 9.01 points or 0.06% to 15,235.71
  • Russell 2000 declined 16.56 points or -0.72% to 2,296.08


Canada Market Closings:

  • TSX Composite declined 111.39 points or -0.52% to 21,173.45
  • TSX 60 declined 6.34 points or -0.5% to 1,270.9


Brazil Market Closing:

  • Bovespa declined 2,295.02 points or -2.11% to 106,419.53





The oil markets had a mixed day today:


  • Crude Oil increased 0.85 USD/BBL or 1.01% to 84.6100
  • Brent increased 0.36 USD/BBL or 0.42% to 86.3500
  • Natural gas decreased 0.133 USD/MMBtu or -2.26% to 5.7650
  • Gasoline decreased 0.0032 USD/GAL or -0.13% to 2.5130
  • Heating oil increased 0.0064 USD/GAL or 0.25% to 2.5711


The above data was collected around 12:10 EST on Tuesday


  • Top commodity gainers: Rubber (2.15%) and Oat (1.91%), Coffee (2.54%) and Bitumen (2.35%)
  • Top commodity losers: Platinum (-2.79%), Palladium (-2.80%), Methanol (-3.43%), and Silver (-2.27%)

The above data was collected around 13:20 EST on Tuesday





Japan 0.109%(+1.1bp), US 2’s 0.4519% (+0.02%), US 10’s 1.6273%(-0.52bps); US 30’s 2.0626%(

-0.02%), Bunds -0.126% (-1.4bp), France 0.2160% (-0.5bp), Italy 0.9421% (+2.5bp), Turkey 19.17% (-30bp), Greece 1.041% (+1bp), Portugal 0.439% (+4.2bp); Spain 0.527% (+1.36bp) and UK Gilts 1.096% (-4.5bp).