ASIA:
China’s decision to maintain Covid controls is pushing companies to look to factories outside the country, according to The Economist Intelligence Unit. Beijing’s stringent Covid controls helped the country resume work while the rest of the world still struggled with the pandemic in 2020. While other countries have relaxed most restrictions and chosen to “live with Covid,” Beijing has increased virus testing requirements and broad controls since Shanghai was locked down for two months earlier this year.
The major Asian stock markets had a negative day today:
- NIKKEI 225 closed
- Shanghai decreased 5.56 points or -0.19% to 2,997.81
- Hang Seng decreased 487.68 points or -3.08% to 15,339.49
- Kospi decreased 7.70 points or -0.33% to 2,329.17
- ASX 200 decreased 128.80 points or -1.84% to 6,857.90
- SENSEX decreased 69.68 points or -0.11% to 60,836.41
- Nifty50 decreased 30.15 points or -0.17% to 18,052.70
The major Asian currency markets had a mixed day today:
- AUDUSD decreased 0.00398 or -0.63% to 0.62939
- NZDUSD decreased 0.00416 or -0.71% to 0.57774
- USDJPY increased 0.271 or 0.18% to 148.162
- USDCNY decreased 0.0081 or -0.11% to 7.33640
Precious Metals:
- Gold decreased 8.59 USD/t oz. or -0.53% to 1,626.30
- Silver increased 0.049 USD/t. oz or 0.25% to 19.329
Some economic news from last night:
China:
Caixin Services PMI (Oct) decreased from 49.3 to 48.4
Hong Kong:
Manufacturing PMI (Oct) increased from 48.0 to 49.3
Interest Rate Decision (MoM) increased from 3.50% to 4.25%
Australia:
Trade Balance (Sep) increased from 8.664B to 12.444B
Some economic news from today:
India:
Nikkei Services PMI (Oct) increased from 54.3 to 55.1
M3 Money Supply remain the same at 9.1%
EUROPE/EMEA:
Inflation hit a new record in the 19 countries that use the euro currency, fuelled by out-of-control prices for natural gas and electricity due to Russia’s war in Ukraine. Economic growth also slowed ahead of what economists fear is a looming recession, largely as a result of those higher prices sapping Europeans’ ability to spend. Annual inflation reached 10.7 percent in October, the European Union’s statistics agency, Eurostat, reported on Monday. That is up from 9.9 percent in September, and the highest since statistics began to be compiled for the eurozone in 1997. Consumer spending power has been drained at shops and elsewhere as more income goes to pay for fuel and utility bills and as basics such as food become more expensive. Natural gas prices for short-term purchases have eased recently but remain high on markets for coming months, suggesting that costly energy may be a persistent drag on the economy.
The major Europe stock markets had a mixed day:
- CAC 40 decreased 33.60 points or -0.54% to 6,243.28
- FTSE 100 increased 44.49 points or 0.62% to 7,188.63
- DAX 30 decreased 126.55 points or -0.95% to 13,130.19
The major Europe currency markets had a mixed day today:
- EURUSD decreased 0.00516 or -0.53% to 0.97612
- GBPUSD decreased 0.01894 or -1.66% to 1.11893
- USDCHF increased 0.01003 or 1.00% to 1.01283
Some economic news from Europe today:
Swiss:
CPI (YoY) (Oct) decreased from 3.3% to 3.0%
CPI (MoM) (Oct) increased from -0.2% to 0.1%
Spain:
Spanish Unemployment Change decreased from 17.7K to -27.0K
Italy:
Italian Monthly Unemployment Rate (Sep) remain the same at 7.9%
UK:
Composite PMI (Oct) decreased from 49.1 to 48.2
Services PMI (Oct) decreased from 50.0 to 48.8
BoE Interest Rate Decision (Nov) increased from 2.25% to 3.00%
Euro Zone:
Unemployment Rate (Sep) decreased from 6.7% to 6.6%
US/AMERICAS:
Private payrolls in the US increased by 239,000 in October, according to the ADP. Wages rose 7.7% on an annual basis, declining 0.1% from the month prior. The hospitality sector saw the majority of gains after adding 210,000 positions, marking an 11.2% acceleration. Trade, transportation and utilities saw a notable gain of 84,000 as well. Manufacturing declined by 20,0000 positions, with the goods-producing sector losing 8,000 jobs. Construction fell by 17,000, professional services by 14,000, and financial services by 10,000. The nonfarm payroll report will be released by the Bureau of Labor Statistics tomorrow and provides a more detailed overview of the US labor force.
US Market Closings:
- Dow declined 146.51 points or -0.46% to 32,001.25
- S&P 500 declined 39.82 points or -1.06% to 3,719.87
- Nasdaq declined 181.86 points or -1.73% to 10,342.94
- Russell 2000 declined 9.41 points or -0.53% to 1,779.73
Canada Market Closings:
- TSX Composite declined 35.79 points or -0.19% to 19,241.22
- TSX 60 declined 2.29 points or -0.2% to 1,166.99
Brazil Market Closing:
- Bovespa declined 32.3 points or -0.03% to 116,896.36
ENERGY:
The oil markets had a mixed day today:
- Crude Oil decreased 1.258 USD/BBL or -1.40% to 88.742
- Brent decreased 0.723 USD/BBL or -0.75% to 95.438
- Natural gas decreased 0.2311 USD/MMBtu or -3.69% to 6.0369
- Gasoline decreased 0.0065 USD/GAL or -0.24% to 2.6907
- Heating oil increased 0.1359 USD/GAL or 3.70% to 3.8133
The above data was collected around 12:13 EST on Thursday
- Top commodity gainers: Heating Oil (3.70%), Methanol (1.47%), Bitumen (0.85%) and Cotton (3.47%)
- Top commodity losers: Palladium (-2.84%), Coal (-1.94%), Coffee (-6.48%) and Natural Gas (-3.69%)
The above data was collected around 12:20 EST on Thursday.
BONDS:
Japan 0.250%(+0bp), US 2’s 4.70% (+0.133%), US 10’s 4.1511% (+9.01bps); US 30’s 4.17% (+0.045%), Bunds 2.251% (+11.6bp), France 2.784% (+11.2bp), Italy 4.424% (+13.6bp), Turkey 11.25% (+0p), Greece 4.677% (+10.5bp), Portugal 3.246% (+8.9bp); Spain 3.328% (+6.8bp) and UK Gilts 3.498% (+9.9bp).
