Market Talk - Tuesday, Dec. 1

Current Account (Q3) decreased from 16.3B to 10.0B

Net Exports Contribution (Q3) decreased from 1.0% to -1.9%

Private House Approvals (Oct) decreased from 10.8% to 3.1%

RBA Interest Rate Decision (Dec) remain the same at 0.10%


Nikkei Manufacturing PMI (Nov) increased from 47.8 to 50.6

Inflation (MoM) (Nov) increased from 0.07% to 0.28%

Inflation (YoY) (Nov) increased from 1.44% to 1.59%

Core Inflation (YoY) (Nov) decreased from 1.74% to 1.67%

Some economic news from today:


Nikkei Markit Manufacturing PMI (Nov) decreased from 58.9 to 56.3


Commodity Prices (YoY) increased from -0.4% to 2.2%

Hong Kong:

Retail Sales (YoY) (Oct) increased from -12.9% to -8.8%


Motorbike Sales (YoY) (Oct) decreased from -33.20% to -46.90%

New Zealand:

GlobalDairyTrade Price Index increased from 1.8% to 4.3%


The UK’s economic recovery from the coronavirus pandemic will lag behind every other major economy apart from Argentina, according to the Organization for Economic Cooperation and Development. Warning the UK and other countries to resist cutting government spending in order to ensure a stronger rebound, the club of 37 rich nations said severe risks to growth and jobs still remained despite the prospect of a vaccine being deployed earlier than first anticipated. In its latest economic outlook report, the Paris-based organization said it expected the UK economy to contract by 11.2% this year, compared with the 10.1% fall in GDP it was forecasting in September. The OECD also sharply downgraded its forecasts for UK growth next year, to 4.2% from 7.6% three months ago.

Germany’s gross domestic product (GDP) grew by 8.5 percent in the third quarter as Europe’s largest economy showed signs of recovery from the plunge caused by the COVID-19 pandemic earlier in the year, according to its government statistics office. The revised data beat earlier forecasts, which predicted the economy would grow by 8.2 percent over the quarter. The jump could help Germany “offset a large part of the massive decline in the gross domestic product caused by the coronavirus pandemic,” according to the office.

The major European stock markets had a green day:

  • CAC 40 increased 63.09 points or 1.14% to 5,581.64
  • FTSE 100 increased 118.54 points or 1.89% to 6,384.73
  • DAX 30 increased 91.14 points or 0.69% to 13,382.30

The major European currency markets had a mixed day today:

  • EURUSD increased 0.01134 or 0.95% to 1.20487
  • GBPUSD increased 0.00893 or 0.67% to 1.34271
  • USDCHF decreased 0.00828 or -0.91% to 0.90024
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