Market Talk – November 29, 2021

by nyljaouadi1
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ASIA:

Japan’s retail sales rose for the first time in three months in October, though less than expected, and the underlying private consumption trend pointed to persistent strains on a fragile economic recovery despite an easing of COVID-19 curbs. Retail sales rose 0.9% in October from a year earlier, government data showed on Monday, versus the median market forecast for a 1.1% increase. It followed an upwardly revised 0.5% drop in September. A 25.9% surge in fuel sales due to rising petroleum product prices boosted the headline retail figure, while sales of goods other than fuel fell 1.2% year-on-year. Worryingly, car sales were down 19.5% from a year earlier, the biggest monthly drop since January 2011, dragged down by supply constraints, according to a government official

 

The major Asian stock markets had a mixed day today:

  • NIKKEI 225 decreased 467.70 points or -1.63% to 28,283.92
  • Shanghai decreased 1.39 or -0.04% to 3,562.70
  • Hang Seng decreased 228.28 points or -0.95% to 23,852.24
  • ASX 200 decreased 39.50 points or -0.54 to 7,239.80
  • Kospi decreased 27.12 points or -0.92% to 2,909.32
  • SENSEX increased 153.43 points or 0.27% to 57,260.58
  • Nifty50 increased 27.50 points or 0.16% to 17,053.95

 

 

The major Asian currency markets had a mixed day today:

  • AUDUSD increased 0.00157 or 0.22% to 0.71314
  • NZDUSD decreased 0.00083 or -0.12% to 0.68065
  • USDJPY increased 0.5 or 0.44% to 113.72
  • USDCNY decreased 0.00695 or -0.11% to 6.38906

 

Precious Metals:

  • Gold decreased 7.32 USD/t oz. or -0.41% to 1,784.49
  • Silver decreased 0.275 USD/t. oz or -1.19% to 22.856

 

Some economic news from last night:

Japan:

Retail Sales (YoY) (Oct) increased from -0.5% to 0.9%

Australia:

Business inventories (MoM) (Q3) decreased from 0.3% to -1.9%

Company Gross Operating Profits (QoQ) (Q3) decreased from 7.1% to 4.0%

Company Profits Pre-Tax (QoQ) (Q3) decreased from 17.4% to -0.4%

 

 

EUROPE/EMEA:

New analysis has found the UK is Europe’s largest digital economy. Despite this growth, however, the US market is worth more than 10 times as much. As the UK looks to recover from the multiple shocks of Brexit, Covid-19 and its accompanying recession, digital innovation will be at the heart of its future economic success. With the importance of digital technology having particularly become more important since the pandemic, businesses are currently scrambling to come out ahead of their competitors, when it comes to realizing the potential of new technologies. According to  indicators found in study , the UK is strong, but could still improve on a number of factors, if it is to make ground on the other market leaders. For example, while the rate of digital adoption among organizations in the UK is broadly keeping pace with that of US entities, there is a slim gap when it comes to nurturing digital talent – meaning that there is a smaller portion of the workforce in the UK which can help firms make the most of that adoption.

 

The major Europe stock markets had a green day:

  • CAC 40 increased 36.52 points or 0.54% to 6,776.25
  • FTSE 100 increased 65.92 points or 0.94% to 7,109.95
  • DAX 30 increased 23.82 points or 0.16% to 15,280.86

 

 

The major Europe currency markets had a mixed day today:

  • EURUSD decreased 0.00386 or -0.34% to 1.12684
  • GBPUSD decreased 0.00424 or -0.32% to 1.32921
  • USDCHF increased 0.00202 or 0.22% to 0.92441

 

Some economic news from Europe today:

Spain:

Spanish CPI (MoM) (Nov) decreased from 1.8% to 0.4%

Spanish CPI (YoY) (Oct) increased from 5.4% to 5.6%

Spanish HICP (MoM) (Oct) decreased from 1.6% to 0.3%

Spanish HICP (YoY) (Nov) increased from 5.4% to 5.6%

Italy:

Italian PPI (MoM) (Oct) increased from 1.6% to 7.1%

Italian PPI (YoY) (Oct) increased from 13.3% to 20.4%

UK:

BoE Consumer Credit (Oct) increased from 0.289B to 0.706B

M4 Money Supply (MoM) (Oct) decreased from 0.7% to 0.6%

Mortgage Approvals (Oct) decreased from 71.85K to 67.20K

Mortgage Lending (Oct) decreased from 9.28B to 1.60B

Net Lending to Individuals decreased from 9.6B to 2.3B

Germany:

German CPI (MoM) (Nov) decreased from 0.5% to -0.2%

German CPI (YoY) (Nov) increased from 4.5% to 5.2%

German HICP (MoM) (Nov) decreased from 0.5% to 0.3%

German HICP (YoY) (Nov) increased from 4.6% to 6.0%

Euro Zone:

Business and Consumer Survey (Nov) decreased from 118.6 to 117.5

Business Climate (Nov) increased from 1.75 to 1.80

Consumer Confidence (Nov) decreased from -4.8 to -6.8

Consumer Inflation Expectation (Nov) decreased from 40.0 to 39.3

Selling Price Expectations (Nov) increased from 42.3 to 49.0

Services Sentiment (Nov) increased from 18.0 to 18.4

Industrial Sentiment (Nov) decreased from 14.2 to 14.1

US/AMERICAS:

America’s biggest shopping day, Black Friday, saw a 28.3% decline in in-person shopping compared to 2019. Foot traffic increased 47.5% YoY, but is not a fair gauge as many stores remained closed due to COVID restrictions. Retailers offering Black Friday specials online saw $8.9 billion in revenue, down slightly from $9 billion in 2020. Consumers spent an additional $5.1 billion on Thanksgiving Day as many Black Friday specials began a day earlier. The National Retail Federation anticipates holiday shopping over the next month to increase by 8.5% to 10.5%, or $843.4 billion and $859 billion.

US Market Closings:

  • Dow advanced 236.6 points or 0.68% to 35,135.94
  • S&P 500 advanced 60.65 points or 1.32% to 4,655.27
  • Nasdaq advanced 291.18 points or 1.88% to 15,782.83
  • Russell 2000 declined 3.96 points or -0.18% to 2,241.98

 

Canada Market Closings:

  • TSX Composite advanced 23.04 points or 0.11% to 21,148.94
  • TSX 60 advanced 0.87 of a point or 0.07% to 1,278.28

 

Brazil Market Closing:

  • Bovespa advanced 589.77 points or 0.58% to 102,814.03

 

ENERGY:

 

The oil markets had a mixed day today:

 

  • Crude Oil increased 2.71 USD/BBL or 3.98% to 70.8600
  • Brent increased 1.91 USD/BBL or 2.63% to 74.6300
  • Natural gas decreased 0.593 USD/MMBtu or -10.83% to 4.8840
  • Gasoline increased 0.0771 USD/GAL or 3.80% to 2.1065
  • Heating oil increased 0.0787 USD/GAL or 3.76% to 2.1732

 

The above data was collected around 13:56 EST on Monday

 

  • Top commodity gainers: Crude Oil (3.98%) and Gasoline (3.80%), Heating Oil (3.76%), Lumber (3.90%)
  • Top commodity losers: Bitumen (-3.70%), Coffee (-4.10%), Wheat (-2.33%), and Natural Gas (-10.83%)

 

The above data was collected around 15:00 EST on Monday

 

 

 

BONDS:

 

Japan 0.075%(+0.1bp), US 2’s 0.5098% (+0.00%), US 10’s 1.5277%(+4.61bps); US 30’s 1.8757% (+0.05%), Bunds -0.313% (+2.5bp), France 0.050% (+1.7bp), Italy 0.98% (+0.6bp), Turkey 20.19% (+8bp), Greece 1.290% (-1.3bp), Portugal 0.365% (+1.1bp); Spain 0.445% (+1.19bp) and UK Gilts 0.866% (+3.8bp).

« Market Talk – November 26, 2021



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