ASIA:
Japan’s wholesale inflation hovered near a 13-year high in August as raw material imports continued to rise on solid global demand, data showed on Monday, putting pressure on companies to pass on higher costs to households. Many analysts, however, expect companies to keep any price hike moderate as a state of emergency curbs to combat the coronavirus pandemic weigh on domestic demand. The corporate goods price index (CGPI), which measures the price companies charge each other for their goods and services, rose 5.5% in August from a year earlier, slightly below a median market forecast for a 5.6% gain, Bank of Japan data showed.
The major Asian stock markets had a mixed day today:
- NIKKEI 225 increased 65.53 points or 0.22% to 30,447.37
- Shanghai increased 12.26 points or 0.33% to 3,715.37
- Hang Seng decreased 392.10 or -1.50% to 25,813.81
- ASX 200 increased 18.60 points or 0.25% to 7,425.20
- Kospi increased 2.10 points or 0.07% to 3,127.86
- SENSEX decreased 127.31 points or -0.22% to 58,177.76
- Nifty50 decreased 13.95 points or -0.08% to 17,355.30
The major Asian currency markets had a mixed day today:
- AUDUSD increased 0.00127 or 0.17% to 0.73647
- NZDUSD decreased 0.00002 or 0.00% to 0.71104
- USDJPY increased 0.07 or 0.07% to 109.98
- USDCNY decreased 0.00001 or 0.00% to 6.44302
Precious Metals:
- Gold increased 6.5117 USD/t oz. or 0.36% to 1,793.85
- Silver increased 0.0425 USD/t. oz or 0.18% to 23.760
Some economic news from last night:
Japan:
BSI Large Manufacturing Conditions (Q3) increased from -1.4 to 7.0
PPI (YoY) (Aug) decreased from 5.6% to 5.5%
PPI (MoM) (Aug) decreased from 1.1% to 0.0%
New Zealand:
FPI (MoM) (Aug) decreased from 1.3% to 0.3%
Some economic news from today:
India:
CPI (YoY) (Aug) decreased from 5.59% to 5.30%
EUROPE/EMEA:
According to the latest snapshot, the UK economy remains 2.1% below its pre-pandemic level. Overall, GDP grew by 3.6% in the three months to July 2021 as the easing of lockdown enabled consumers to return to high street shops and boosted spending in pubs, hotels, and restaurants. Economists said some of the weakness in consumer-facing sectors of the economy came after a stronger month in June when England’s progress towards the Euro 2020 football final helped to boost retail sales. Wet weather in July also dragged down activity.
The major Europe stock markets had a green day:
- CAC 40 increased 13.16 points or 0.20% to 6,676.93
- FTSE 100 increased 39.23 points or 0.56% to 7,068.43
- DAX 30 increased 91.61 points or 0.59% to 15,701.42
The major Europe currency markets had a mixed day today:
- EURUSD decreased 0.00022 or -0.02% to 1.18080
- GBPUSD increased 0.0008 or 0.06% to 1.38387
- USDCHF increased 0.00362 or 0.39% to 0.92172
Some economic news from Europe today:
Germany:
German WPI (MoM) (Aug) decreased from 1.1% to 0.5%
German WPI (YoY) (Aug) increased from 11.3% to 12.3%
US/AMERICAS:
The Federal Reserve Bank of New York published a report indicating consumers fear high inflation may not be as “temporary” as the central bank claims. According to a poll, American consumers believe inflation will rise 4.8% by this time next year. Consumers also believe inflation will increase 3.7% over the next three years. Home prices are believed to rise 6% over the next year, slightly revised from June’s poll of a 6.2% expectation. The majority of households admitted they are in a worse financial situation than they were a year ago but are optimistic that their conditions will improve by next year. Around 10.4% believe they will be unable to make a debt payment over the next three months. Unemployment fears dropped to the lowest level since 2013 at 12.2%. Although the economy is beginning to stabilize, Americans believe noticeably higher prices are here to stay.
The 20th anniversary of the 9/11 catastrophe remained in the hearts of the international community over the weekend. The 1,776-foot One World Trade Center opened seven years ago where the iconic Twin Towers once stood. The Port Authority of New York and New Jersey reported that it has been difficult to secure tenants in the nation’s most expensive skyscraper due to fears of another terrorist attack. The $3.8 billion skyscraper is finally making a comeback with a 90% occupancy, in line with other major office buildings in downtown Manhattan. The Port Authority’s annual report showed that revenue during 2020 came in at $328 million, although it was exceeded by $335 million worth of expenses. Developers working with the Port Authority are optimistic that revenue will increase in 2021 as fears of working in the building subside.
US Market Closings:
- Dow advanced 261.91 points or 0.76% to 34,869.63
- S&P 500 advanced 10.15 points or 0.23% to 4,468.73
- Nasdaq declined 9.91 points or -0.07% to 15,105.58
- Russell 2000 advanced 13.24 points or 0.59% to 2,240.78
Canada Market Closings:
- TSX Composite advanced 33.35 points or 0.16% to 20,666.41
- TSX 60 advanced 2.06 points or 0.17% to 1,236.52
Brazil Market Closing:
- Bovespa advanced 2,117.79 points or 1.8% to 116,403.72
ENERGY:
The oil markets had a green day today:
- Crude Oil increased 0.63 USD/BBL or 0.90% to 70.3500
- Brent increased 0.49 USD/BBL or 0.67% to 73.4100
- Natural gas increased 0.299 USD/MMBtu or 6.06% to 5.2370
- Gasoline increased 0.0002 USD/GAL or 0.01% to 2.1542
- Heating oil increased 0.0071 USD/GAL or 0.33% to 2.1531
The above data was collected around 12:56 EST on Monday
- Top commodity gainers: Natural Gas (6.06%) and Cocoa (1.29%), Sugar (1.06%) and Bitumen (1.76%)
- Top commodity losers: Palladium (-2.37%), Corn (-20.44%), Orange Juice (-3.33%), and Lean Hogs (-1.97%)
The above data was collected around 13:05 EST on Monday.
BONDS:
Japan 0.045%(+0.50bp), US 2’s 0.21%(+0.0002%), US 10’s 1.3275%(-1.53bps); US 30’s 1.9092%(-0.03%),Bunds -0.3280% (+0.4bp), France -0.0010% (+0.4bp), Italy 0.6843% (-2.24bp), Turkey 16.61% (+5bp), Greece 0.7600% (-1.50bp), Portugal 0.228% (-1bp); Spain 0.347% (+0.3bp) and UK Gilts 0.7440% (-1.50bp).
