Market Talk – Wednesday, March 31

Australia:

  • Building Approvals (MoM) (Feb) increased from -19.4% to 21.6%
  • Housing Credit (Feb) remain the same at 0.4%
  • Private House Approvals (Feb) increased from -12.2% to 15.1%
  • Private Sector Credit (MoM) (Feb) decreased from 0.3% to 0.2%

New Zealand:

  • ANZ Business Confidence (Mar) decreased from 7.0 to -4.1
  • NBNZ Own Activity (Mar) decreased from 21.3% to 16.6%

Singapore:

  • Bank Lending (Feb) increased from 683.6B to 686.7B

Some economic news from today:

Japan:

  • Housing Starts (YoY) (Feb) decreased from -3.1% to -3.7%
  • Construction Orders (YoY) (Feb) decreased from 14.1% to 2.5%

India:

  • Foreign Debt (USD) (Q4) increased from 556.2B to 563.5B
  • Federal Fiscal Deficit (Feb) increased from 12,340.04B to 14,055.47B
  • Balance of Payments (USD) (Q4) increased from 31.600B to 32.500B
  • Current Account % of GDP (QoQ) (Q4) decreased from 2.40% to -0.20%
  • Current Account (USD) (Q4) decreased from 15.50B to -1.70B
  • Trade Balance (USD) (Q4) decreased from -14.800B to -34.500B
  • Foreign Debt (USD) increased from 556.7B to 563.5B
  • Infrastructure Output (YoY) (Feb) decreased from 0.9% to -4.6%

Hong Kong:

  • M3 Money Supply (Feb) decreased from 23.2% to 10.3%

EUROPE/EMEA:

Britain’s recovery during the second half of last year was stronger than first estimated, according to official figures that also showed households put away more money in savings accounts than previous data suggested. In a series of revisions to its data covering the Covid 19 pandemic, the Office for National Statistics said the economy expanded by 16.9% and 1.3% in the third and fourth quarters of 2020 respectively. This marked steep increases on initial estimates of 16.1% and 1%. Analysts said the more robust recovery than first penciled in by the ONS gave hope for a broader expansion during 2021 as the economy gained momentum.

Germany has suspended the use of the coronavirus vaccine created by AstraZeneca and the University of Oxford for anyone under the age of 60 due to renewed concerns over reports of blood clots. The move comes after the country’s medicines regulator found 31 cases of a rare type of blood clot in a small number of people immunized with the coronavirus vaccine produced by the Anglo-Swedish drugmaker. The suspension is likely to deal yet another blow to its vaccine’s reputation.

The major European stock markets had a negative day:

  • CAC 40 decreased 20.81 points or -0.34% to 6,067.23
  • FTSE 100 decreased 58.49 points or -0.86% to 6,713.63
  • DAX 30 decreased 0.27 points or 0.00% to 15,008.34

The major European currency markets had a green day today:

  • EURUSD increased 0.00204 or 0.17% to 1.17435
  • GBPUSD increased 0.0035 or 0.25% to 1.37828
  • USDCHF increased 0.00009 or 0.01% to 0.94193

Some economic news from Europe today:

UK:

  • Business Investment (QoQ) (Q4) increased from 1.3% to 5.9%
  • Business Investment (YoY) (Q4) increased from -10.3% to -7.4%
  • Current Account (Q4) decreased from -14.3B to -26.3B
  • GDP (YoY) (Q4) increased from -7.8% to -7.3%
  • GDP (QoQ) (Q4) decreased from 16.0% to 1.3%
  • Nationwide HPI (YoY) (Mar) decreased from 6.9% to 5.7%
  • Nationwide HPI (MoM) (Mar) decreased from 0.7% to-0.2%
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