ASIA:
In its latest report, Moody’s Investors Service has projected that the economic growth in India will rebound strongly. It has pegged GDP growth for the nation at 9.3% and 7.9% in FY22 and FY23, respectively. The Reserve Bank of India has ensured that interest rates in India have remained at record lows and has also maintained an accommodative stance to encourage growth. Moody’s says the low interest rates will reduce funding costs, as companies refinance higher-cost debt. The lower rates will also facilitate new capital investment as demand continues to grow, the agency has said. Higher inflation remains a threat, though. This might lead to a faster-than-expected increase in interest rates, which would weigh on business investment.
The major Asian stock markets had a negative day today:
- NIKKEI 225 decreased 747.66 points or -2.53% to 28,751.62
- Shanghai decreased 20.09 or -0.56% to 3,564.09
- Hang Seng decreased 659.64 points or -2.67% to 24,080.52
- ASX 200 decreased 128.00 points or -1.73 to 7,279.30
- Kospi decreased 43.83 points or -1.47% to 2,936.44
- SENSEX decreased 1,687.94 points or -2.87% to 57,107.15
- Nifty50 decreased 509.80 points or -2.91% to 17,026.45
The major Asian currency markets had a mixed day today:
- AUDUSD decreased 0.00457 or -0.64% to 0.71347
- NZDUSD decreased 0.00284 or -0.41% to 0.68284
- USDJPY decreased 1.84 or -1.60% to 113.29
- USDCNY increased 0.01049 or 0.16% to 6.39794
Precious Metals:
- Gold decreased 1.72 USD/t oz. or -0.10% to 1,786.73
- Silver decreased 0.443 USD/t. oz or -1.88% to 23.132
Some economic news from last night:
Japan:
Tokyo Core CPI (YoY) (Nov) increased from 0.1% to 0.3%
Tokyo CPI (YoY) (Nov) increased from 0.1% to 0.5%
CPI Tokyo Ex Food and Energy (MoM) (Nov) increased from -0.2% to 0.0%
Foreign Bonds Buying decreased from 456.7B to -12.8B
Foreign Investments in Japanese Stocks decreased from 165.1B to -47.1B
Australia:
Retail Sales (MoM) (Oct) increased from 1.3% to 4.9%
Some economic news from today:
India:
FX Reserves, USD increased from 640.11B to 640.40B
Singapore:
Industrial Production (YoY) (Oct) increased from -2.2% to 16.9%
Industrial Production (MoM) (Oct) increased from -1.9% to 2.4%
EUROPE/EMEA:
Britain’s economic recovery from the coronavirus pandemic lagged behind that of other rich nations in the July-September period, according to official data on Thursday which underscored the interest rate dilemma facing the Bank of England. Gross domestic product grew by 1.3%, the weakest three-month growth since Britain was under lockdown in early 2021.
The Office for National Statistics said Britain’s economy remained 2.1% smaller than it was at the end of 2019, a bigger shortfall than in fellow Group of Seven countries Germany, Italy, and France.
The major Europe stock markets had a negative day:
- CAC 40 decreased 336.14 points or -4.75% to 6,739.73
- FTSE 100 decreased 266.34 points or -3.64% to 7,044.03
- DAX 30 decreased 660.94 points or -4.15% to 15,257.04
The major Europe currency markets had a mixed day today:
- EURUSD increased 0.00823 or 0.73% to 1.12932
- GBPUSD increased 0.00095 or 0.07% to 1.33264
- USDCHF decreased 0.01184 or -1.27% to 0.92395
Some economic news from Europe today:
Germany:
German Import Price Index (MoM) (Oct) increased from 1.3% to 3.8%
German Import Price Index (YoY) (Oct) increased from 17.7% to 21.7%
Norway:
Core Retail Sales (MoM) (Oct) increased from 0.4% to 1.0%
Swiss:
Employment Level (Q3) increased from 5.126M to 5.213M
GDP (QoQ) (Q3) decreased from 1.8% to 1.7%
GDP (YoY) (Q3) decreased from 8.6% to 4.1%
Italy:
Italian Business Confidence (Nov) increased from 115.1 to 116.0
Italian Consumer Confidence (Nov) decreased from 118.4 to 117.5
France:
French Consumer Confidence (Nov) remain the same at 99
Euro Zone:
M3 Money Supply (YoY) (Oct) increased from 7.5% to 7.7%
Loans to Non Financial Corporations (Oct) increased from 2.1% to 2.5%
Private Sector Loans (YoY) remain the same at 4.1%
US/AMERICAS:
The NYSE had a half-day of trading this Friday due to the Thanksgiving holiday weekend. The Dow dropped over 900 points today, the steepest decline of 2021, after it was announced that a new highly transmissible COVID variant was detected in South Africa. Countries are scrambling to impose new travel restrictions from Africa, and traders are waiting to hear from health experts to determine if new government restrictions will come into play. Later in the day, the US banned all travelers from South Africa, Botswana, Zimbabwe, Namibia, Lesotho, Eswatini, Mozambique and Malawi.
US Market Closings:
- Dow declined 905.04 points or -2.53% to 34,899.34
- S&P 500 declined 106.84 points or -2.27% to 4,594.62
- Nasdaq declined 353.57 points or -2.23% to 15,491.66
- Russell 2000 declined 85.52 points or -3.67% to 2,245.94
Canada Market Closings:
- TSX Composite declined 487.28 points or -2.25% to 21,125.9
- TSX 60 declined 29.36 points or -2.25% to 1,277.41
Brazil Market Closing:
- Bovespa declined 3,586.99 points or -3.39% to 102,224.26
ENERGY:
The oil markets had a mixed day today:
- Crude Oil decreased 9.3 USD/BBL or -11.91% to 68.7800
- Brent decreased 8.97 USD/BBL or -10.91% to 73.2500
- Natural gas increased 0.319 USD/MMBtu or 6.29% to 5.3910
- Gasoline decreased 0.2644 USD/GAL or -11.48% to 2.0380
- Heating oil decreased 0.0059 USD/GAL or -0.25% to 2.3603
The above data was collected around 13:10 EST on Friday
- Top commodity gainers: Natural Gas (6.29%) and Corn (1.21%)
- Top commodity losers: Palladium (-5.41%), Crude Oil (-11.91%), Brent (-10.91%), and Gasoline (-11.48%)
The above data was collected around 13:25 EST on Friday
BONDS:
Japan 0.072%(-1.2bp), US 2’s 0.5157% (-0.11%), US 10’s 1.4850%(-11.81bps); US 30’s 1.8261% (-0.11%), Bunds -0.340% (-9.4bp), France 0.0320% (-8.4bp), Italy 0.985% (-7.7bp), Turkey 20.09% (+0bp), Greece 1.306% (-4.5bp), Portugal 0.376% (-6.1bp); Spain 0.437% (-7.9bp) and UK Gilts 0.823% (-14.4bp).
