Market Talk - Monday, Sept. 13

ASIA:

Japan’s wholesale inflation hovered near a 13-year high in August as raw material imports continued to rise on solid global demand, data showed on Monday, putting pressure on companies to pass on higher costs to households. Many analysts, however, expect companies to keep any price hike moderate as a state of emergency curbs to combat the coronavirus pandemic weigh on domestic demand. The corporate goods price index (CGPI), which measures the price companies charge each other for their goods and services, rose 5.5% in August from a year earlier, slightly below a median market forecast for a 5.6% gain, Bank of Japan data showed.

The major Asian stock markets had a mixed day today:

  • NIKKEI 225 increased 65.53 points or 0.22% to 30,447.37
  • Shanghai increased 12.26 points or 0.33% to 3,715.37
  • Hang Seng decreased 392.10 or -1.50% to 25,813.81
  • ASX 200 increased 18.60 points or 0.25% to 7,425.20
  • Kospi increased 2.10 points or 0.07% to 3,127.86
  • SENSEX decreased 127.31 points or -0.22% to 58,177.76
  • Nifty50 decreased 13.95 points or -0.08% to 17,355.30

The major Asian currency markets had a mixed day today:

  • AUDUSD increased 0.00127 or 0.17% to 0.73647
  • NZDUSD decreased 0.00002 or 0.00% to 0.71104
  • USDJPY increased 0.07 or 0.07% to 109.98
  • USDCNY decreased 0.00001 or 0.00% to 6.44302

Precious Metals:

  • Gold increased 6.5117 USD/t oz. or 0.36% to 1,793.85
  • Silver increased 0.0425 USD/t. oz or 0.18% to 23.760

Some economic news from last night:

Japan:

BSI Large Manufacturing Conditions (Q3) increased from -1.4 to 7.0

PPI (YoY) (Aug) decreased from 5.6% to 5.5%

PPI (MoM) (Aug) decreased from 1.1% to 0.0%

New Zealand:

FPI (MoM) (Aug) decreased from 1.3% to 0.3%

Some economic news from today:

India:

CPI (YoY) (Aug) decreased from 5.59% to 5.30%

EUROPE/EMEA:

According to the latest snapshot, the UK economy remains 2.1% below its pre-pandemic level. Overall, GDP grew by 3.6% in the three months to July 2021 as the easing of lockdown enabled consumers to return to high street shops and boosted spending in pubs, hotels, and restaurants. Economists said some of the weakness in consumer-facing sectors of the economy came after a stronger month in June when England’s progress towards the Euro 2020 football final helped to boost retail sales. Wet weather in July also dragged down activity.

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