Market Talk – Friday, March 12

Some economic news from last night:

China:

China Thomson Reuters IPSOS PCSI (Mar) increased from 67.37 to 72.69

Japan:

BSI Large Manufacturing Conditions (Q1) decreased from 21.6 to 1.6

Thomson Reuters IPSOS PCSI (Mar) increased from 35.84 to 40.29

New Zealand:

Business NZ PMI (Feb) decreased from 57.5 to 53.4

Some economic news from today:

China:

FDI (Feb) increased from 4.60% to 31.50%

India:

Bank Loan Growth remain the same at 6.6%

Deposit Growth increased from 11.8% to 12.1%

FX Reserves, USD decreased from 584.55B to 580.30

CPI (YoY) (Feb) increased from 4.06% to 5.03%

Cumulative Industrial Production (Jan) increased from -13.50% to -12.20%

Industrial Production (YoY) (Jan) decreased from 1.6% to -1.6%

Manufacturing Output (MoM) (Jan) decreased from 2.1% to -2.0%

EUROPE/EMEA:

Britain’s exports to Europe collapsed in January as companies grappled with new terms of trade following Brexit. The United Kingdom exported goods worth £8.1 billion ($11.3 billion) to the European Union in its first month completely outside the bloc, a 41% decline compared to December, according to the Office for National Statistics. The drop-off in trade is similar when compared to January 2020, ONS data shows. According to the ONS, exports of food and live animals including seafood to the European Union decreased by nearly 64% in January compared to the previous month.

The major Europe stock markets had a mixed day:

  • CAC 40 increased 12.79 points or 0.21% to 6,046.55
  • FTSE 100 increased 24.51 points or 0.36% to 6,761.47
  • DAX 30 decreased 67.00 points or -0.46% to 14,502.39

The major Europe currency markets had a mixed day today:

  • EURUSD decreased 0.00384 or -0.32% to 1.19441
  • GBPUSD decreased 0.00821 or -0.59% to 1.39077
  • USDCHF increased 0.00405 or 0.44% to 0.92878

Some economic news from Europe today:

UK:

Inflation Expectations remain the same at 2.7%

NIESR Monthly GDP Tracker decreased from -1.7% to -2.0%

U.K. Construction Output (YoY) (Jan) increased from -3.9% to -3.0%

Construction Output (MoM) (Jan) increased from -2.9% to 0.9%

GDP (MoM) decreased from 1.2% to -2.9%

GDP (YoY) decreased from -8.6% to -9.2%

Index of Services decreased from 0.6% to -2.4%

Industrial Production (YoY) (Jan) decreased from -3.3% to -4.9%

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