Market Talk – Friday, April 16

ASIA:

China just posted its strongest quarterly growth on record as the world’s second largest economy continued its robust recovery from the coronavirus pandemic. GDP growth of 18.3% year-on-year in the first quarter was the strongest since China began keeping records in 1992, and was driven by a surge in retail sales, industrial production and investment in fixed assets. On a year to year basis China’s economy grew by 2.3% in 2020.

India’s trade deficit in goods widened to $13.93 billion in March from $9.98 billion during the same period a year earlier, revised trade data released by the government on Thursday showed. Merchandise exports rose 60.29% in March from a year earlier to $34.45 billion, while imports were up 53.74% to $48.38 billion, the data showed. For the whole fiscal year ended on March 31, the goods exports were down 7.26% to $290.63 billion while imports fell 18.02% to $398.18 billion from a year earlier, the data showed. Imports too grew by 53.74% to $48.38 billion in March, but dipped by 18% to $389.18 billion during April-March 2020-21, according to the government data released on Thursday.

The major Asian stock markets had a green day today:

  • NIKKEI 225 increased 40.68 points or 0.14% to 29,683.37
  • Shanghai increased 27.63 points or 0.81% to 3,426.62
  • Hang Seng increased 176.57 points or 0.61% to 28,969.71
  • ASX 200 increased 4.90 points or 0.07% to 7,063.50
  • Kospi increased 4.29 points or 0.13% to 3,198.62
  • SENSEX increased 28.35 points or 0.06% to 48,832.03
  • Nifty50 increased 36.40 points or 0.25% to 14,617.85

The major Asian currency markets had a mixed day today:

  • AUDUSD decreased 0.00166 or -0.21% to 0.77337
  • NZDUSD decreased 0.00409 or -0.57% to 0.71352
  • USDJPY increased 0.15 or 0.14% to 108.83
  • USDCNY decreased 0.00258 or -0.04% to 6.52416

Precious Metals:

  • Gold increased 15.00 USD/t oz. or 0.85% to 1,778.21
  • Silver increased 0.19 USD/t. oz or 0.75% to 26.054

Some economic news from last night:

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