Market Talk – Wednesday, March 24

Precious Metals:

  • Gold increased 7.07 USD/t oz. or 0.41% to 1,734.18
  • Silver increased 0.037 USD/t. oz or 0.15% to 25.117

Some economic news from last night:


Corporate Services Price Index (CSPI) (YoY) increased from -0.4% to -0.1%

Manufacturing PMI (Mar) increased from 51.4 to 52.0

Services PMI (Mar) increased from 45.8 to 46.5

South Korea:

PPI (MoM) (Feb) decreased from 1.1% to 0.8%

PPI (YoY) (Feb) increased from 0.9% to 2.0%


Manufacturing PMI increased from 56.9 to 57.0

Services PMI increased from 53.4 to 56.2

New Zealand:

Exports (Feb) increased from 4.20B to 4.47B

Imports (Feb) decreased from 4.85B to 4.29B

Trade Balance (MoM) (Feb) increased from -647M to 181M

Trade Balance (YoY) (Feb) decreased from 2,730M to 2,360M


The Eurozone economy returned to growth for the first time in six months in March, a closely watched survey said Wednesday, as coronavirus lockdowns had little effect on manufacturing, especially in Germany. IHS Markit’s survey showed that a major pickup in activity in Germany, the Eurozone’s biggest economy, had lifted manufacturing output in the single currency bloc to 63 points, its highest reading since 1997. The acceleration in manufacturing also affected hiring as manufacturers saw headcounts rise at a rate not seen since August 2018. The services sector, however, still lingered in recessionary territory under the effects of the pandemic, but the rate of decline was weakening, IHS Markit said.

An Abu Dhabi investment fund has agreed to pay £800m into UK life sciences, in what could be the first of billions of pounds of investment in the UK. Mubadala, one of the UAE’s most active funds, will invest the money over five years. Abu Dhabi is set to invest heavily in British health, tech, green energy, and infrastructure, according to the Financial Times. The exact size of the total investment is not yet clear, the FT said, but it could be worth up to £5bn.

The major European stock markets had a mixed day:

  • CAC 40 increased 1.99 points or 0.03% to 5,947.29
  • FTSE 100 increased 13.70 points or 0.20% to 6,712.89
  • DAX 30 decreased 51.63 points or -0.35% to 14,610.39

The major European currency markets had a mixed day today:

  • EURUSD decreased 0.00215 or -0.18% to 1.18226
  • GBPUSD decreased 0.004 or -0.29% to 1.36935
  • USDCHF increased 0.00101 or 0.11% to 0.93538
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