Market Talk – Thursday, Feb. 11

ASIA:

China’s National Radio and Television Administration (NRTA) announced BBC World News has been barred from airing in China saying some BBC’s reports on China infringed the principles of truthfulness and impartiality in journalism. Chinese observers said the BBC has turned into “a rumor mill” that deliberately throws mud at China, and the decision to suspend its broadcast sends a clear message that China doesn’t accept fake news.

India’s gold imports in January surged 72% from a year earlier, as a correction in prices from a record high drew retail buyers and jewelers. The world’s second-biggest consumer of the gold imported around 62 tonnes of it in January, up from 36.5 tonnes a year ago, Reuters reported.

The major Asian stock markets had a mixed day today:

  • NIKKEI 225 closed
  • Shanghai closed
  • Hang Seng increased 134.85 points or 0.45% to 30,173.57
  • ASX 200 decreased 6.80 points or -0.10% to 6,850.10
  • Kospi closed
  • SENSEX increased 222.13 points or 0.43% to 51,531.52
  • Nifty50 increased 66.80 points or 0.44% to 15,173.30

The major Asian currency markets had a mixed day today:

  • AUDUSD increased 0.00269 or 0.35% to 0.77482
  • NZDUSD increased 0.00117 or 0.16% to 0.72262
  • USDJPY increased 0.15 or 0.15% to 104.79
  • USDCNY decreased 0.00624 or -0.10% to 6.42251

Precious Metals:

  • Gold decreased 16.54 USD/t oz. or -0.90% to 1,825.68
  • Silver decreased 0.08 USD/t. oz or -0.30% to 26.913

Some economic news from last night:

Australia:

MI Inflation Expectations increased from 3.4% to 3.7%

New Zealand:

Electronic Card Retail Sales (MoM) (Jan) increased from -0.6% to -0.4%

Electronic Card Retail Sales (YoY) (Jan) decreased from 3.5% to 1.9%

Some economic news from today:

M3 Money Supply decreased from 12.5% to 12.1%

EUROPE/EMEA:

France’s central bank governor has called for a “decarbonization” of the multitrillion-euro holdings of corporate bonds at the European Central Bank, intensifying the debate on how far monetary policy should go in tackling climate change. François Villeroy de Galhau said the ECB should adjust the amount of corporate bonds it buys and the value of the collateral it accepts depending on how aligned companies are to achieving the goals of the international climate agreement to limit global warming. Christine Lagarde, the ECB’s president, has pledged to make tackling climate change a major part of the central bank’s strategy review, which is due to be completed by September.

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