ASIA:
India’s economic momentum remained stable in December even as the first signs of slowing output growth appeared across some industries. Activity in India’s dominant services sector expanded for the fifth month, and manufacturing for the sixth, although growth in new work and production lost some momentum, according to IHS Markit. While the composite index slipped to 56.4 last month from 59.2 in November, it held up above its long-run average. Exports grew a robust 39% year-on-year in December to $37.8 billion, the highest monthly tally on record led by commodities, chemicals, and electronics. However, the trade deficit remained elevated at close to $22 billion on the back of strong imports.
The major Asian stock markets had a mixed day today:
- NIKKEI 225 increased 547.04 points or 2.09% to 26,717.34
- Shanghai decreased 32.81 points or -0.97% to 3,361.44
- Hang Seng decreased 256.92 points or -1.08% to 23,550.08
- ASX 200 increased 149.80 points or 2.19% to 6,988.10
- Kospi increased 48.85 points or 1.87% to 2,663.34
- SENSEX decreased 76.71 points or -0.13% to 57,200.23
- Nifty50 decreased 8.20 points or -0.05% to 17,101.95
The major Asian currency markets had a negative day today:
- AUDUSD decreased 0.00410 or -0.59% to 0.69951
- NZDUSD decreased 0.00230 or -0.35% to 0.65521
- USDJPY decreased 0.159 or -0.14% to 115.199
- USDCNY decreased 0.00670 or -0.11% to 6.36329
Precious Metals:
- Gold decreased 11.32 USD/t oz. or -0.63% to 1,785.19
- Silver decreased 0.472 USD/t. oz or -2.08% to 22.268
Some economic news from last night:
Japan:
Tokyo Core CPI (YoY) (Jan) decreased from 0.5% to 0.2%
Tokyo CPI (YoY) (Jan) decreased from 0.8% to 0.5%
CPI Tokyo Ex Food and Energy (MoM) (Jan) decreased from 0.0% to -0.3%
South Korea:
Industrial Production (MoM) (Dec) decreased from 5.3% to 4.3%
Industrial Production (YoY) (Dec) decreased from 6.3% to 6.2%
Retail Sales (MoM) increased from -1.9% to 2.0%
Service Sector Output (MoM) (Dec) decreased from 2.1% to -0.4%
Australia:
PPI (YoY) (Q4) increased from 2.9% to 3.7%
PPI (QoQ) (Q4) increased from 1.1% to 1.3%
Singapore:
URA Property Index (QoQ) (Q4) remain the same at 5.00%
Unemployment Rate (Q4) decreased from 2.6% to 2.4%
Some economic news from today
Hong Kong:
GDP (YoY) decreased from 5.5% to 4.8%
GDP (QoQ) decreased from 0.6% to 0.2%
India:
Bank Loan Growth decreased from 9.2% to 8.0%
Deposit Growth decreased from 10.3% to 9.3%
FX Reserves, USD decreased from 634.97B to 634.29B
EUROPE/EMEA:
Covid-19 and Brexit have cost the UK at least £250bn so far, new research out this week suggests – adding that long-term, Brexit is set to prove the more expensive. Parcel delivery comparison website ParcelHero this week analyzed Government figures and publicly-available third-party economic assessments and forecasts to arrive at the totals. ParcelHero’s calculations start with the cost of Covid-19, citing research from the Centre for Economics and Business Research, which put the total for Covid-19 lockdowns at £251bn. It found that the value of goods and services produced by the economy was more than £250bn lower than it would have been, as represented by the GVA (gross value added) of the economy – the value of goods and services delivered minus the costs of producing them. In August 2020, an Institute for Government suggested in August 2020 that the UK government expected to have spent £8.1bn on preparing for Brexit by the end of the transition period, which ended in January 2020. That included £4.4bn that the National Audit Office suggested had already been spent by January 31, 2020.
The major Europe stock markets had a negative day:
- CAC 40 decreased 57.92 points or -0.82% to 6,965.88
- FTSE 100 decreased 88.24 points or -1.17% to 7,466.07
- DAX 30 decreased 205.32 points or -1.32% to 15,318.95
The major Europe currency markets had a mixed day today:
- EURUSD increased 0.00130 or 0.12% to 1.11593
- GBPUSD increased 0.00210 or 0.16% to 1.34082
- USDCHF decreased 0.00080 or -0.09% to 0.93040
Some economic news from Europe today:
France:
French PPI (MoM) (Dec) decreased from 3.9% to1.0%
French Consumer Spending (MoM) (Dec) decreased from 0.9% to 0.2%
French GDP (QoQ) (Q4) decreased from 3.1% to 0.7%
French GDP (YoY) increased from 3.5% to 5.4%
Germany:
German Import Price Index (MoM) (Dec) decreased from 3.0% to 0.1%
German Import Price Index (YoY) (Dec) decreased from 24.7% to 24.0%
German GDP (YoY) (Q4) decreased from 2.9% to 1.4%
German GDP (QoQ) (Q4) decreased from 1.7% to -0.7%
Norway:
Core Retail Sales (MoM) (Dec) decreased from 0.9% to -3.1%
Unemployment Change (Jan) increased from 81.46K to 81.89K
Unemployment Rate n.s.a. (Jan) increased from 2.20% to 2.60%
Swiss:
KOF Leading Indicators (Jan) increased from 107.2 to 107.8
Spain:
Spanish GDP (QoQ) (Q4) decreased from 2.6% to 2.0%
Spanish GDP (YoY) (Q4) increased from 3.4% to 5.2%
Spanish Business Confidence increased from 5.9 to 6.7
Italy:
Italian Business Confidence (Jan) decreased from 115.0 to 113.9
Italian Consumer Confidence (Jan) decreased from 117.7 to 114.2
Italian PPI (MoM) (Dec) decreased from 1.2% to 0.8%
Italian PPI (YoY) (Dec) increased from 22.2% to 22.6%
Euro Zone:
M3 Money Supply (YoY) (Dec) decreased from 7.4% to 6.9%
Loans to Non Financial Corporations (Dec) increased from 2.9% to 4.2%
Private Sector Loans (YoY) decreased from 4.2% to 4.1%
Business and Consumer Survey (Jan) decreased from 113.8 to 112.7
Business Climate (Jan) increased from 1.78 to 1.81
Consumer Confidence (Jan) decreased from -8.4 to -8.5
Consumer Inflation Expectation (Jan) increased from 36.6 to 38.4
Selling Price Expectations (Jan) decreased from 48.0 to 47.7
Services Sentiment (Jan) decreased from 10.9 to 9.1
Industrial Sentiment (Jan) decreased from 14.6 to13.9
US/AMERICAS:
The core personal consumption expenditures price index rose 4.9% on an annual basis this December. This is the biggest rise on record dating back to September 1983, according to the Commerce Department. Analysts had expected the index to rise 4.8%, as November saw a 4.7% increase.
Personal income rose 0.3% in December, a bit beneath the 0.4% estimate. Consumer spending declined 0.6%, also lower than the 0.7% estimate. The Labor Department also stated today that pay has increased 4% over the last 12 months, marking the fastest pace in the history of the employment cost index that dates back to 2002.
US Market Closings:
- Dow advanced 564.69 points or 1.65% to 34,725.47
- S&P 500 advanced 105.34 points or 2.43% to 4,431.85
- Nasdaq advanced 417.79 points or 3.13% to 13,770.57
- Russell 2000 advanced 37.22 points or 1.93% to 1,968.51
Canada Market Closings:
- TSX Composite advanced 197.64 points or 0.96% to 20,741.75
- TSX 60 advanced 10.1 points or 0.81% to 1,260.96
Brazil Market Closing:
- Bovespa declined 701.55 points or -0.62% to 111,910.1
ENERGY:
The oil markets had a green day today:
- Crude Oil increased 0.55 USD/BBL or 0.64% to 87.1600
- Brent increased 1.11 USD/BBL or 1.24% to 90.4500
- Natural gas increased 0.514 USD/MMBtu or 12.00% to 4.7970
- Gasoline increased 0.0314 USD/GAL or 1.25% to 2.5524
- Heating oil increased 0.0120 USD/GAL or 0.43% to 2.8065
The above data was collected around 13:22 EST on Friday
- Top commodity gainers: Natural Gas (12.00%) and Palm Oil (3.32%), Lumber (3.02%), Steel (6.65%)
- Top commodity losers: Platinum (-1.76%), Silver(-2.08%), Orange Juice(-2.88%) and Copper(-2.48%)
The above data was collected around 13:30 EST on Friday.
BONDS:
Japan 0.173%(+1.5bp), US 2’s 1.17% (-0.016%), US 10’s 1.7873% (-1.57bps); US 30’s 2.09% (+0.001%), Bunds -0.048% (+0.9bp), France 0.362% (+1.7bp), Italy 1.353% (-0.5bp), Turkey 22.37% (+77bp), Greece 1.717% (+2.8bp), Portugal 0.634% (+3.2bp); Spain 0.707% (+2.9bp) and UK Gilts 1.239% (+0.9bp).
