Market Talk – October 19, 2021

by nyljaouadi1
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ASIA:

India and Israel agreed to resume talks on a free trade agreement from November, with the aim of signing a deal by mid-2022, both countries said on Monday. Ties between the two countries have grown closer in the seven years since Indian Prime Minister Narendra Modi has been in power. Several strategic military and technology partnerships have been formed during that time. India aims to sign new trade deals with several countries, including Australia, the United Arab Emirates, the United Kingdom, and Canada to boost exports and help the country recover faster from its coronavirus-induced slowdown.

The major Asian stock markets had a mixed day today:

  • NIKKEI 225 increased 190.06 or 0.65% to 29,215.52
  • Shanghai increased 25.02 or 0.70% to 3,593.15
  • Hang Seng increased 377.46 points or 1.49% to 25,787.21
  • ASX 200 decreased 6.20 points or -0.08% to 7,374.90
  • Kospi increased 22.36 points or 0.74% to 3,029.04
  • SENSEX decreased 49.54 points or -0.08% to 61,716.05
  • Nifty50 decreased 58.30 points or -0.32% to 18,418.75

 

 

The major Asian currency markets had a mixed day today:

  • AUDUSD increased 0.0072 or 0.97% to 0.74824
  • NZDUSD increased 0.00793 or 1.12% to 0.71664
  • USDJPY decreased 0.02 or -0.02% to 114.27
  • USDCNY decreased 0.05818 or -0.91% to 6.37001

 

Precious Metals:

  • Gold increased 5.01 USD/t oz. or 0.28% to 1,769.61
  • Silver increased 0.696 USD/t. oz or 3.00% to 23.861

 

No economic news from last night:

 

Some economic news from today:

New Zealand:

GlobalDairyTrade Price Index increased from 0.0% to 2.2%

Indonesia:

Deposit Facility Rate (Oct) remain the same at 2.75%

Lending Facility Rate (Oct) remain the same at 4.25%

Loans (YoY) (Sep) increased from 1.16% to 2.21%

Interest Rate Decision remain the same at 3.50%

 

EUROPE/EMEA:

There is no reason for the European Central Bank to increase rates between now and the end of 2022 as eurozone inflation is expected to fall back below the ECB’s 2% target, Bank of France governor Francois Villeroy de Galhau said on Tuesday. Villeroy, who is a member of the ECB’s policy-setting governing council, told France Info radio that overall inflation in the 19-country eurozone should be back below 2% by the end of next year. ECB President Christine Lagarde said last week that the central bank still saw Europe’s inflation upswing as temporary and that there were no signs yet that the recent surge was becoming embedded in wages.

The major Europe stock markets had a mixed day:

  • CAC 40 decreased 3.25 points or -0.05% to 6,669.85
  • FTSE 100 increased 13.70 points or 0.19% to 7,217.53
  • DAX 30 increased 41.36 points or 0.27% to 15,515.83

 

 

 

The major Europe currency markets had a mixed day today:

  • EURUSD increased 0.00283 or 0.24% to 1.16407
  • GBPUSD increased 0.00744 or 0.54% to 1.38070
  • USDCHF decreased 0.00114 or -0.12% to 0.92242

 

Some economic news from Europe today:

Swiss:

Trade Balance (Sep) decreased from 5.128B to 5.052B

Spain:

Spanish Trade Balance decreased from -1.60B to -3.90B

Euro Zone:

Construction Output (MoM) (Aug) decreased from 0.09% to -1.28%

 

US/AMERICAS:

The first US bitcoin ETF made its debut this Tuesday. The PRoShares Bitcoin Strategy ETC (BITO) began trading up 3% and ended the day 2.59%. Bitcoin’s price briely rose once trading began, surpassing the $63,000 mark, and nearing the April 14 all-time high of $64,899 (currently trading around $64,050 at market close). SEC Chairman Gary Gensler remains skeptical about cryptocurrencies. “What you have here is a product that’s been overseen for four years by the U.S. Federal regulator CFTC, and that’s being wrapped inside of something within our jurisdiction called the Investment Company Act of 1940, so we have some ability to bring it inside of investor protection,” Gensler told CNBC’s ‘Squawk on the Street’ Tuesday. “It’s still a highly speculative asset class and listeners should understand that underneath this, it still has that same aspect of volatility and speculation.”

Yellen described the debt ceiling stall as a “temporary reprieve” and claims the Treasury will continue to take “extraordinary measures” before the December 3 deadline. Last week, the US Congress temporarily increased the borrowing limit by $480 billion. However, Yellen is pushing for lawmakers to raise or suspend the debt limit in general. Doing so, according to Yellen, will provide “longer-term certainty that the government will satisfy all its obligations.” However, McConnell said the GOP would not vote to hike the debt ceiling. “Your lieutenants on Capitol Hill now have the time they claimed they lacked to address the debt ceiling,” McConnel said in a letter to President Biden.

US Market Closings:

  • Dow advanced 198.7 points or 0.56% to 35,457.31
  • S&P 500 advanced 33.17 points or 0.74% to 4,519.63
  • Nasdaq advanced 107.28 points or 0.71% to 15,129.09
  • Russell 2000 advanced 8.07 points or 0.36% to 2,275.91

 

Canada Market Closings:

  • TSX Composite advanced 101.62 points or 0.48% to 21,086.99
  • TSX 60 advanced 5 points or 0.4% to 1,266.31

 

Brazil Market Closing:

  • Bovespa declined 3,755.42 points or -3.28% to 110,672.76

 

ENERGY:

 

The oil markets had a mixed day today:

 

  • Crude Oil increased 1.26 USD/BBL or 1.53% to 83.7000
  • Brent increased 1.03 USD/BBL or 1.22% to 85.3600
  • Natural gas increased 0.099 USD/MMBtu or 1.98% to 5.0880
  • Gasoline decreased 0.005 USD/GAL or -0.20% to 2.4816
  • Heating oil increased 0.0092 USD/GAL or 0.36% to 2.5582

 

The above data was collected around 13:23 EST on Tuesday

 

  • Top commodity gainers: Silver (3.00%) and Rubber (3.40%), Orange Juice (3.84%) and Palladium (4.09%)
  • Top commodity losers: Zinc (-4.10%), Sugar (-2.12%), Cocoa (-2.61%), and Lumber (-4.81%)

 

 

The above data was collected around 13:30 EST on Tuesday

 

 

BONDS:

 

Japan 0.091%(+0.2bp), US 2’s 0.3912%(-0.03%), US 10’s 1.6231%(+3.17bps); US 30’s 2.0783%(

+0.05%),Bunds -0.109% (+3.9bp), France 0.2340% (+3.9bp), Italy 0.9558% (+5.70bp), Turkey 19.08% (-5bp), Greece 1.0080% (+3bp), Portugal 0.421% (+3.8bp); Spain 0.541% (+4.96bp) and UK Gilts 1.155% (+1.8bp).

 

« Market Talk – October 18, 2021



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