ASIA:
Core consumer prices in Japan’s capital, a leading indicator of nationwide figures, rose 3.4% in October from a year earlier, data showed on Friday, marking the fastest annual pace since 1989 in a sign of broadening inflationary pressure. The rise in the Tokyo core consumer price index (CPI), which excludes volatile fresh food but includes oil costs, exceeded a median market forecast for a 3.1% gain and followed a 2.8% gain in September. Inflation in the Tokyo area thus exceeded the central bank’s 2% target for five straight months.
The major Asian stock markets had a mixed day today:
- NIKKEI 225 decreased 240.04 points or -0.88% to 27,105.20
- Shanghai decreased 66.98 points or -2.25% to 2,915.93
- Hang Seng decreased 564.88 points or -3.66% to 14,863.06
- Kospi decreased 20.38 points or -0.89% to 2,268.40
- ASX 200 decreased 59.40 points or -0.87% to 6,785.70
- SENSEX increased 203.01 points or 0.34% to 59,959.85
- Nifty50 increased 49.85 points or 0.28% to 17,786.80
The major Asian currency markets had a mixed day today:
- AUDUSD decreased 0.00453 or -0.70% to 0.64086
- NZDUSD decreased 0.00207 or -0.36% to 0.58043
- USDJPY increased 1.363 or 0.93% to 147.619
- USDCNY increased 0.02552 or 0.35% to 7.27512
Precious Metals:
- Gold decreased 19.90 USD/t oz. or -1.20% to 1,643.04
- Silver decreased 0.389 USD/t. oz or -1.99% to 19.194
Some economic news from last night:
Japan:
BoJ Interest Rate Decision remain the same at -0.10%
Jobs/applications ratio (Sep) increased from 1.32 to 1.34
Tokyo Core CPI (YoY) (Oct) increased from 2.8% to 3.4%
CPI Tokyo Ex Food and Energy (MoM) (Oct) decreased from 0.3% to 0.2%
Singapore:
URA Property Index (QoQ) (Q3) increased from 3.5% to 3.8%
Unemployment Rate (Q3) decreased from 2.1% to 2.0%
Australia:
PPI (YoY) (Q3) increased from 5.6% to 6.4%
PPI (QoQ) (Q3) increased from 1.4% to 1.9%
Some economic news from today:
India:
FX Reserves, USD decreased from 528.37B to 524.52B
EUROPE/EMEA:
Southeast Asian exports are beginning to be hit by the economic challenges faced by Europe, as concerns grow that possible recessions in the West could also strain Southeast Asia’s economic recovery efforts well into 2023. Spiking inflation and energy costs, as well as other economic impacts of the Ukraine war, are likely to see European economies struggle over the coming 12 months, with consumers cutting back on spending. The World Bank has warned that the world is edging towards a global recession next year, possibly leading to a string of financial crises in emerging markets and developing economies, according to a study it published last month. Fitch Solutions, a financial research company, expects the US to suffer a “mild recession” in late 2023. The International Monetary Fund, or IMF, reckons the eurozone area will see growth of 3.1% in 2022 and just 0.5% 2023, according to its latest outlook published this month.
The major Europe stock markets had a mixed day:
- CAC 40 increased 29.02 points or 0.46% to 6,273.05
- FTSE 100 decreased 26.02 points or -0.37% to 7,047.67
- DAX 30 increased 32.10 points or 0.24% to 13,243.33
The major Europe currency markets had a mixed day today:
- EURUSD decreased 0.00281 or -0.28% to 0.99437
- GBPUSD increased 0.00188 or 0.16% to 1.15903
- USDCHF increased 0.006 or 0.61% to 0.99660
Some economic news from Europe today:
France:
French Consumer Spending (MoM) (Sep) increased from 0.1% to 1.2%
French GDP (YoY) decreased from 4.2% to 1.0%
French GDP (QoQ) (Q3) decreased from 0.5% to 0.2%
French CPI (MoM) increased from -0.6% to 1.0%
French HICP (MoM) increased from -0.5% to 1.3%
Swiss:
KOF Leading Indicators (Oct) decreased from 92.3 to 90.9
Spain:
Spanish CPI (YoY) decreased from 8.9% to 7.3%
Spanish GDP (QoQ) (Q3) decreased from 1.5% to 0.2%
Spanish HICP (YoY) (Oct) decreased from 9.0% to 7.3%
Germany:
German GDP (QoQ) (Q3) increased from 0.1% to 0.3%
German GDP (YoY) (Q3) decreased from 1.7% to 1.1%
German CPI (MoM) (Oct) decreased from 1.9% to 0.9%
German CPI (YoY) (Oct) increased from 10.0% to 10.4%
Italy:
Italian CPI (MoM) (Oct) increased from 0.3% to 3.5%
US/AMERICAS:
Inflation continued in September in line with expectations, according to data released this Friday by the Bureau of Economic Analysis. Core personal consumption expenditures price index rose 0.5% on a monthly basis, increasing 5.1% from the past year. Food and energy included, PCE advanced 0.3% for the month and 6.2% on an annual basis. The Federal Reserve will certainly cite this data when the decision making branch of the central bank meets next week. After raising rates by 3 percentage points over six rate hikes, the markets are pricing in a 75 bps hike for next week.
US Market Closings:
- Dow advanced 828.52 points or 2.59% to 32,861.8
- S&P 500 advanced 93.76 points or 2.46% to 3,901.06
- Nasdaq advanced 309.78 points or 2.87% to 11,102.45
- Russell 2000 advanced 40.6 points or 2.25% to 1,846.92
Canada Market Closings:
- TSX Composite advanced 119.08 points or 0.62% to 19,471.19
- TSX 60 advanced 7.76 points or 0.66% to 1,179.83
Brazil Market Closing:
- Bovespa declined 101.71 points or -0.09% to 114,539.05
ENERGY:
The oil markets had a mixed day today:
- Crude Oil decreased 1.727 USD/BBL or -1.94% to 87.353
- Brent decreased 1.711 USD/BBL or -1.76% to 95.249
- Natural gas decreased 0.1977 USD/MMBtu or -3.37% to 5.6773
- Gasoline decreased 0.1609 USD/GAL or -5.34% to 2.8507
- Heating oil increased 0.245 USD/GAL or 5.65% to 4.5789
The above data was collected around 13:26 EST on Friday
- Top commodity gainers: Heating Oil (5.65%), HRC Steel (1.15%), Lean Hogs (0.75%) and Soybeans (0.38%)
- Top commodity losers: Coffee (-4.28%), Steel (-4.54%), Zinc (-4.30%) and Gasoline (-5.34%)
The above data was collected around 13:36 EST on Friday
BONDS:
Japan 0.245%(-1bp), US 2’s 4.40% (+0.083%), US 10’s 4.0123% (+7.33bps); US 30’s 4.14% (+0.041%), Bunds 2.101% (+12.3bp), France 2.619% (+16bp), Italy 4.169% (-+17.7bp), Turkey 11.25% (-47p), Greece 4.435% (-9.7bp), Portugal 3.102% (+14.3bp); Spain 3.151% (+15.1bp) and UK Gilts 3.495% (+8.6bp).
