Market Talk – August 6, 2019

Posted Aug 6, 2019 by Martin Armstrong |

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ASIA:

The major Asian stock markets had a mixed day today:

Shanghai decreased 43.94 points or -1.56% to 2,777.56
Kospi decreased 29.48 points or -1.51% to 1,917.50
ASX 200 decreased 162.20 points or -2.44% to 6,478.10
NIKKEI 225 decreased 134.98 points or -0.65% to 20,585.31
Hang Seng decreased 175.08 points or -0.67% to 25,976.24
SENSEX increased 277.01 points or 0.75% to 36,967.85

The major Asian currency markets had a mixed day today:

AUDUSD increased 0.0004 or 0.05% to 0.6760
NZDUSD decreased 0.0001 or 0.01% to 0.6526
USDJPY increased 0.6210 or 0.59% to 106.5610
USDCNY decreased 0.0424 or 0.60% to 7.0558

Precious Metals:

Gold increased 7.6 USD/t oz. or 0.52% to 1,473.88
Silver increased 0.0305 USD/t. oz or 0.19% to 16.4161

Some economic news from last night:

Australia:

ANZ Job Advertisements (MoM) decreased from 4.9% to 0.8%
Exports (MoM) (Jun) decreased from 4% to 1%
Imports (MoM) (Jun) decreased from 1% to -4%
Trade Balance (Jun) increased from 6.173B to 8.036B

New Zealand:

Inflation Expectations (QoQ) decreased from 2.0% to 1.9%
Employment Change (QoQ) (Q2) increased from -0.2% to 0.8%
Labor Cost Index (YoY) (Q2) increased from 2.0% to 2.2%
Labor Cost Index (QoQ) (Q2) increased from 0.3% to 0.8%
Participation Rate (Q2) remain the same at 70.40%
Unemployment Rate (Q2) deceased from 4.2% to 3.9%

South Korea:

Current Account (Jun) increased from 4.81B to 6.38B

Japan:

Average Cash Earnings (YoY) increased from -0.5% to 0.4%
Household Spending (MoM) (Jun) decreased from 5.5% to -2.8%
Household Spending (YoY) (Jun) decreased from 4.0% to 2.7%
Overtime Pay (YoY) (Jun) decreased from 0.90% to -0.20%
Overall Labor Cash Earnings (Jun) increased from -0.5% to 0.4%

Indonesia:

Consumer Confidence (Jul) decreased from 126.4 to 124.8

Some economic news from today:

Australia:

RBA Interest Rate Decision (Aug) remain the same at 1.00%

New Zealand:

GlobalDairyTrade Price Index decreased from 2.7% to -2.6%

Japan:

Coincident Indicator (MoM) (Jun) decreased from 1.3% to -3.0%
Leading Index decreased from 94.9 to 93.3
Leading Index (MoM) (Jun) decreased from -1.0% to -1.6%

EUROPE/EMEA:

The major Europe stock markets had a negative day today:

CAC 40 decreased 6.89 points or -0.13% to 5,234.65
FTSE 100 decreased 52.16 points, or -0.72% to 7,171.69
DAX decreased 90.55 points or -0.78% to 11,567.96

The major Europe currency markets had a mixed day today:

EURUSD decreased 0.0007 or 0.06% to 1.1195
GBPUSD increased 0.0005 or 0.04% to 1.2146
USDCHF increased 0.0043 or 0.44% to 0.9776

Some economic news from Europe:

Germany:

German Factory Orders (MoM) (Jun) increased from -2.0% to 2.5%

U.S./AMERICAS:

U.S. Market Closings:

The Dow advanced 311.78 points or 1.21% to 26,029.52
S&P 500 advanced 37.03 points or 1.30% to 2,881.77
Nasdaq advanced 107.22 points or 1.39% to 7,833.27
Russell 2000 advanced 14.67 points or 0.99% to 1,502.09

Canada Market Closings:

TSX Composite declined 122.17 points or -0.75% to 16,149.49
TSX 60 declined 8.18 points or -0.84% to 961.31

Brazil Market Closing:

Bovespa advanced 2,065.94 points or 2.06% to 102.163.69

ENERGY:

The oil markets had a mixed day today:

Crude Oil decreased 0.9 USD/BBL or -1.65% to 53.6803
Brent decreased 0.65 USD/BBL or -1.09% to 59.0357
Natural gas increased 0.031 USD/MMBtu or 1.50% to 2.0979
Gasoline decreased 0.0281 USD/GAL or -1.64% to 1.6917
Heating oil decreased 0.0061 USD/GAL or -0.33% to 1.8286
Top commodity gainers: Orange Juice (4.52%), Lumber (2.51%), Palladium(1.89%), and Coffee (0.89%)
Top commodity losers: Steel (-3.75 %), Cocoa (-2.25%), Wheat (-2.02%), and Crude Oil (-1.65%)

The above data was collected around 15:05 EST on Tuesday.

BONDS:

Japan -0.18%(+2bp), US 2’s 1.61% (+3bps), US 10’s 1.73%(-0bps), US 30’s 2.26%(-3bps), Bunds -0.53% (-2bp), France -0.26% (-3bp), Italy 1.50% (-6bp), Turkey 15.10% (-2bp), Greece 2.06% (+1bp), Portugal 0.27% (-2bp), Spain 0.24% (-2bp) and UK Gilts 0.52% (+0bp).