ASIA:

The SENSEX and Nifty50 were closed today to honor Ganesh Chaturthi. We wish those celebrating a happy holiday.

The major Asian stock markets had a green day today:

• NIKKEI 225 increased 373.65 points or 1.25% to 30,381.84
• Shanghai increased 9.98 points or 0.27% to 3,703.11
• Hang Seng increased 489.91 or 1.91% to 26,205.91
• ASX 200 increased 37.10 points or 0.50% to 7,406.60
• Kospi increased 11.06 points or 0.36% to 3,125.76
• SENSEX closed
• Nifty50 closed

The major Asian currency markets had a mixed day today:

• AUDUSD increased 0.00051 or 0.07% to 0.73725
• NZDUSD increased 0.00233 or 0.33% to 0.71285
• USDJPY increased 0.15 or 0.13% to 109.93
• USDCNY decreased 0.01319 or -0.20% to 6.43741

Precious Metals:

• Gold decreased 2.0450 USD/t oz. or -0.11% to 1,792.65
• Silver decreased 0.1770 USD/t. oz or -0.74% to 23.893

Some economic news from last night:

China:

China Thomson Reuters IPSOS PCSI (Sep) increased from 68.94 to 73.09

Japan:

Thomson Reuters IPSOS PCSI (Sep) decreased from 40.79 to 38.06

New Zealand:

Visitor Arrivals (MoM) decreased from -10.4% to -41.4%

Electronic Card Retail Sales (MoM) (Aug) decreased from 0.7% to -19.8%

Electronic Card Retail Sales (YoY) (Aug) decreased from 4.7% to -11.4%

External Migration & Visitors (Jul) decreased from 1,365.20% to 767.80%

Permanent/Long-Term Migration (Jul) increased from 527 to 1,139

Some economic news from today:

China:

M2 Money Stock (YoY) (Aug) decreased from 8.3% to 8.2%

New Loans (Aug) increased from 1,080.0B to 1,220.0B

Outstanding Loan Growth (YoY) (Aug) decreased from 12.3% to 12.1%

Chinese Total Social Financing (Aug) increased from 1,060.0B to 2,960.0B

India:

Bank Loan Growth increased from 6.5% to 6.7%

Deposit Growth decreased from 10.6% to 9.5%

FX Reserves, USD increased from 633.56B to 642.45B

Cumulative Industrial Production (Jul) decreased from 45.00% to 34.10%

Industrial Production (YoY) (Jul) decreased from 13.6% to 11.5%

Manufacturing Output (MoM) (Jul) decreased from 13.0% to 10.5%

EUROPE/EMEA:

Britain’s economic recovery from the winter lockdown almost stalled in July despite the removal of most pandemic restrictions, amid a fall in retail sales and the impact of “pingdemic” shortages in the workforce. The Office for National Statistics said gross domestic product (GDP) grew by just 0.1% in July from a month earlier, as the government’s end to most restrictions in England failed to offset the fallout from the coronavirus Delta variant. GDP was lower than the 0.6% growth forecast by City economists, and a sharp slowdown compared with June when the economy grew by 1%.

The major Europe stock markets had a mixed day:

• CAC 40 decreased 20.95 points or -0.31% to 6,663.77
• FTSE 100 increased 4.99 points or 0.07% to 7,029.20
• DAX 30 decreased 13.34 points or -0.09% to 15,609.81

The major Europe currency markets had a mixed day today:

• EURUSD decreased 0.00026 or -0.02% to 1.18214
• GBPUSD increased 0.00148 or 0.11% to 1.38524
• USDCHF increased 0.00112 or 0.12% to 0.91767

Some economic news from Europe today:

Germany:

German CPI (MoM) (Aug) decreased from 0.9% to 0.0%

German CPI (YoY) (Aug) increased from 3.8% to 3.9%

German HICP (YoY) (Aug) increased from 3.1% to 3.4%

German HICP (MoM) (Aug) decreased from 0.5% to 0.1%

UK:

U.K. Construction Output (YoY) (Jul) decreased from 30.0% to 8.6%

Construction Output (MoM) (Jul) decreased from -1.3% to -1.6%

GDP (MoM) decreased from 1.0% to 0.1%

GDP (YoY) decreased from 22.2% to 7.5%

Index of Services decreased from 5.7% to 4.5%

Industrial Production (MoM) (Jul) increased from -0.7% to 1.2%

Industrial Production (YoY) (Jul) decreased from 8.3% to 3.8%

Manufacturing Production (MoM) (Jul) decreased from 0.2% to 0.0%

Manufacturing Production (YoY) (Jul) decreased from 13.9% to 6.0%

Monthly GDP 3M/3M Change decreased from 4.8% to 3.6%

Trade Balance (Jul) decreased from -11.99B to -12.71B

Trade Balance Non-EU (Jul) increased from -7.10B to -6.99B

Norway:

Core CPI YTD (Aug) decreased from 1.1% to 1.0%

Core Inflation (MoM) (Aug) decreased from 0.6% to -0.6%

CPI (MoM) (Aug) decreased from 0.9% to 0.0%

CPI (YoY) (Aug) increased from 3.0% to 3.4%

PPI (YoY) (Aug) increased from 43.4% to 50.1%

France:

French Industrial Production (MoM) (Jul) decreased from 0.6% to 0.3%

Spain:

Spanish Industrial Production (YoY) (Jul) decreased from 11.1% to 3.4%

Italy:

Italian Industrial Production (MoM) (Jul) decreased from 1.1% to 0.8%

Italian Industrial Production (YoY) (Jul) decreased from 13.8% to 7.0%

US/AMERICAS:

The producer price index in the US advanced 0.7% in August, according to the Labor Department. On an annual basis, the index rose 8.3%, marking the largest increase since November 2010. August’s PPI outpaces July’s previous YoY record of 7.8%. Federal Reserve Chairman Jerome Powell called inflationary pressures “temporary,” but costs are noticeably increasing in many areas. Final demand prices rose 0.3% in August, which is still a 6.3% YoY increase in core PPI, marking the largest increase since 2014. Final demand service increased 0.7% after trade services pushed 1.5% higher. One-third of gains came from the health and beauty sector which spiked 7.8%.

The Canadian economy added 90,000 jobs in August, according to a report released by Statistics Canada. This marks the third consecutive month of job gains for the nation. Statistics Canada noted that overall employment is 0.8% or 156,000 jobs away from pre-pandemic levels. The unemployment rate dropped from 7.5% in July to 7.1% in August.

In another report from Statistics Canada released this Friday, mortgage borrowing peaked to record highs during Q2 as the amount borrowers owe relative to their income spiked. On a seasonally adjusted basis, household credit debt as a proportion of disposable income rose to 173.1%. This means that the average borrower was C$1.73 in debt for every dollar of household disposable income. Total credit market borrowing during Q2 doubled the amount of debt in Q1 after reaching C$63.8 billion. Credit market debt has reached C$2.53 trillion, including $1.74 trillion in mortgage debt and C$797.7 billion in non-mortgage loans.

US Market Closings:

• Dow declined 271.66 points or -0.78% to 34,607.72
• S&P 500 declined 34.7 points or -0.77% to 4,458.58
• Nasdaq declined 132.76 points or -0.87% to 15,115.49
• Russell 2000 declined 21.58 points or -0.96% to 2,227.55

Canada Market Closings:

• TSX Composite declined 72.21 points or -0.35% to 20,633.06
• TSX 60 declined 5.17 points or -0.42% to 1,234.46

Brazil Market Closing:

• Bovespa declined 1,074.93 points or -0.93% to 114,285.93

ENERGY:

The oil markets had a mixed day today:

• Crude Oil increased 1.47 USD/BBL or 2.16% to 69.6100
• Brent increased 1.39 USD/BBL or 1.95% to 72.8400
• Natural gas decreased 0.08 USD/MMBtu or -1.59% to 4.9510
• Gasoline increased 0.0519 USD/GAL or 2.47% to 2.1516
• Heating oil increased 0.0276 USD/GAL or 1.31% to 2.1413

The above data was collected around 12:55 EST on Friday

• Top commodity gainers: Gasoline (2.47%) and Crude Oil (2.16%), Copper (3.82%) and Lumber (4.87%)
• Top commodity losers: Palm Oil (-2.57%), Bitumen (-2.58%), Cocoa (-2.58%), and Lean Hogs (-2.37%)

The above data was collected around 13:30 EST on Friday.

BONDS:

Japan 0.044%(+0.40bp), US 2’s 0.2167%(+0.00%), US 10’s 1.3428%(+4.57bps); US 30’s 1.9364%(+0.04%),Bunds -0.3310% (+3.3bp), France -0.0010% (+3.9bp), Italy 0.7072% (+3.53bp), Turkey 16.57% (-3bp), Greece 0.775% (-1.60bp), Portugal 0.212% (+1.8bp); Spain 0.351% (+4.08bp) and UK Gilts 0.7610% (+2.30bp).