ASIA:
China’s central bank digital currency (CBDC) project has reached the mark of close to USD 14 billion in transactions during its pilot phase. This makes the digital yuan, the most wildly adopted CBDC in the world. With its first CBDC trials launched in April 2020, China’s central bank has been aiming to eventually replace cash with digital yuan.
The major Asian stock markets had a mixed day today:
- NIKKEI 225 increased 84.32 points or 0.31% to 26,974.90
- Shanghai decreased 61.37 points or -2.02% to 2,977.56
- Hang Seng decreased 1,030.43 points or -6.36% to 15,180.69
- Kospi increased 23.04 points or 1.04% to 2,236.16
- ASX 200 increased 102.60 points or 1.54% to 6,779.40
- SENSEX increased 524.51 points or 0.88% to 59,831.66
- Nifty50 increased 154.45 points or 0.88% to 17,730.75
The major Asian currency markets had a mixed day today:
- AUDUSD decreased 0.0072 or -1.13% to 0.63120
- NZDUSD decreased 0.00548 or -0.95% to 0.56932
- USDJPY increased 1.489 or 1.01% to 148.987
- USDCNY increased 0.09932 or 1.37% to 7.32772
Precious Metals:
- Gold decreased 6.94 USD/t oz. or -0.42% to 1,649.72
- Silver decreased 0.177 USD/t. oz or -0.91% to 19.223
Some economic news from last night:
China:
Exports (YoY) (Sep) decreased from 7.1% to 5.7%
Imports (YoY) (Sep) remain the same at 0.3%
Trade Balance (USD) (Sep) increased from 79.39B to 84.74B
Fixed Asset Investment (YoY) (Sep) increased from 5.8% to 5.9%
GDP (QoQ) (Q3) increased from -2.7% to 3.9%
GDP (YoY) (Q3) increased from 0.4% to 3.9%
Chinese GDP YTD (YoY) (Q3) increased from 2.5% to 3.0%
Industrial Production (YoY) (Sep) increased from 4.2% to 6.3%
Chinese Industrial Production YTD (YoY) (Sep) increased from 3.6% to 3.9%
Chinese Unemployment Rate increased from 5.3% to 5.5%
Japan:
Manufacturing PMI (Oct) decreased from 50.8 to 50.7
Services PMI increased from 52.2 to 53.0
Australia:
Manufacturing PMI decreased from 53.5 to 52.8
Services PMI decreased from 50.6 to 49.0
EUROPE/EMEA:
The Bank of England has decided to start selling assets in November, it announced on Tuesday night, as it prepares to end its quantitative easing program in which it has piled up nearly £850bn of government bonds. The 30-year gilt, one of the longest-dated UK government bonds, has been at the heart of recent concerns about the pensions industry, concerns that triggered the BoE’s emergency purchase program.
The BoE had previously planned to start bond sales on October 31st, itself delayed from the earlier planned date of October 6th. Sales will now start on November 1 to avoid a clash with the fiscal plan to be announced on the 31st by the new British chancellor, Jeremy Hunt.
The major Europe stock markets had a green day:
- CAC 40 increased 95.97 points or 1.59% to 6,131.36
- FTSE 100 increased 44.26 points or 0.64% to 7,013.99
- DAX 30 increased 200.55 points or 1.58% to 12,931.45
The major Europe currency markets had a mixed day today:
- EURUSD increased 0.00151 or 0.15% to 0.98727
- GBPUSD decreased 0.0017 or -0.15% to 1.12790
- USDCHF increased 0.00375 or 0.38% to 1.00135
Some economic news from Europe today:
France:
French Manufacturing PMI (Oct) decreased from 47.7 to 47.4
French S&P Global Composite PMI (Oct) decreased from 51.2 to 50.0
French Services PMI (Oct) decreased from 52.9 to 51.3
Germany:
German Composite PMI (Oct) decreased from 45.7 to 44.1
German Manufacturing PMI (Oct) decreased from 47.8 to 45.7
German Services PMI (Oct) decreased from 45.0 to 44.9
UK:
Composite PMI decreased from 49.1 to 47.2
Manufacturing PMI decreased from 48.4 to 45.8
Services PMI decreased from 50.0 to 47.5
Euro Zone:
Manufacturing PMI (Oct) decreased from 48.4 to 46.6
S&P Global Composite PMI (Oct) decreased from 48.1 to 47.1
Services PMI (Oct) decreased from 48.8 to 48.2
US/AMERICAS:
A US appeals court has temporarily blocked Biden’s student loan forgiveness initiative. The plan would have cost taxpayers $400 billion, according to the Congressional Budget Office. Although this is a temporary freeze, GOP-led states now have time to show how this measure would harm both citizens and lenders. Over 22 million Americans have already applied for student loan forgiveness.
US Market Closings:
- Dow advanced 417.06 points or 1.34% to 31,499.62
- S&P 500 advanced 44.59 points or 1.19% to 3,797.34
- Nasdaq advanced 92.9 points or 0.86% to 10,952.61
- Russell 2000 advanced 6.16 points or 0.35% to 1,748.4
Canada Market Closings:
- TSX Composite advanced 57.45 points or 0.3% to 18,918.4
- TSX 60 advanced 2.74 points or 0.24% to 1,146.06
Brazil Market Closing:
- Bovespa declined 2,916.09 points or -3.27% to 116,012.7
ENERGY:
The oil markets had a mixed day today:
- Crude Oil decreased 0.314 USD/BBL or -0.37% to 84.736
- Brent decreased 0.16 USD/BBL or -0.17% to 93.340
- Natural gas increased 0.2324 USD/MMBtu or 4.69% to 5.1914
- Gasoline increased 0.0737 USD/GAL or 2.77% to 2.7357
- Heating oil increased 0.1017 USD/GAL or 2.65% to 3.9340
The above data was collected around 16:12 EST on Monday
- Top commodity gainers: Natural Gas (4.69%), Heating Oil (2.65%), Gasoline (2.77%) and Orange Juice (4.22%)
- Top commodity losers: Cotton (-3.73%), Palladium (-2.08%), Oat (-3.91%) and Lumber (-6.46%)
The above data was collected around 16:19 EST on Monday
BONDS:
Japan 0.255%(+0bp), US 2’s 4.52% (+0.031%), US 10’s 4.2508% (+3.88bps); US 30’s 4.40% (+0.095%), Bunds 2.344% (-9.3bp), France 2.861% (-12.7bp), Italy 4.592% (-17.2bp), Turkey 10.92% (+42p), Greece 4.859% (-21.9bp), Portugal 3.357% (-12.9bp); Spain 3.449% (-10.2bp) and UK Gilts 3.74% (-31bp).
