ASIA:

The major Asian stock markets had a mixed day today:

• NIKKEI 225 decreased 7.77 or -0.03% to 29,098.24
• Shanghai decreased 35.33 or -0.98% to 3,562.31
• Hang Seng decreased 409.53 points or -1.57% to 25,628.74
• ASX 200 increased 5.30 points or 0.07 to 7,448.70
• Kospi decreased 23.59 points or -0.77% to 3,025.49
• SENSEX decreased 206.93 points or -0.34% to 61,143.33
• Nifty50 decreased 57.45 points or -0.31% to 18,210.95

The major Asian currency markets had a mixed day today:

• AUDUSD increased 0.00050 or 0.06% to 0.75113
• NZDUSD increased 0.00050 or 0.08% to 0.71680
• USDJPY decreased 0.38 or -0.33% to 113.80
• USDCNY increased 0.01400 or 0.22% to 6.39253

Precious Metals:

• Gold increased 0.38 USD/t oz. or 0.02% to 1,793.01
• Silver decreased 0.064 USD/t. oz or -0.27% to 24.070

Some economic news from last night:

China:

Chinese Industrial profit (YoY) (Sep) increased from 10.10% to 16.30%

Chinese Industrial profit YTD (Sep) decreased from 49.5% to 44.7%

South Korea:

Consumer Confidence (Oct) increased from 103.8 to 106.8

Australia:

CPI (YoY) (Q3) decreased from 3.8% to 3.0%

CPI (QoQ) (Q3) remain the same at 0.8%

CPI Index Number (Q3) increased from 118.80 to 119.70

Trimmed Mean CPI (YoY) (Q3) increased from 1.6% to 2.1%

Trimmed Mean CPI (QoQ) (Q3) increased from 0.5% to 0.7%

Weighted mean CPI (YoY) (Q3) increased from 1.7% to 2,1%

Weighted mean CPI (QoQ) (Q3) increased from 0.5% to 0.7%

New Zealand:

Exports (Sep) increased from 4.36B to 4.40B

Imports (Sep) increased from 6.50B to 6.57B

Trade Balance (YoY) (Sep) decreased from -2,940M to -4,090M

Trade Balance (MoM) (Sep) decreased from -2,139M to -2,171M

ANZ Business Confidence (Oct) decreased from -7.2 to -13.4

NBNZ Own Activity increased from 18.2% to 21.7%

Some economic news from today:

Indonesia:

Foreign Direct Investment (YoY) (Q3) decreased from 19.60% to -2.70%

EUROPE/EMEA:

UK Chancellor Rishi Sunak has set out changes to universal credit he says will give low-income families an extra £1,000 a year. The chancellor painted a positive picture of the health of the UK economy as it emerges from the pandemic in his autumn statement to a packed House of Commons. Much of his budget had been pre-announced, including an end to the public sector pay freeze and an increase to the National Living Wage from £8.91 per hour to £9.50. According to Office for Budget Responsibility figures, household disposable income is set to rise by 0.8% per year. He also announced that the planned increase in duty on spirits, wine, cider, and beer due to take effect from midnight on Wednesday had been canceled.

The major Europe stock markets had a negative day:

• CAC 40 decreased 12.99 points or -0.19% to 6,753.52
• FTSE 100 decreased 24.35 points or -0.33% to 7,253.27
• DAX 30 decreased 51.25 points or -0.33% to 15,705.81

The major Europe currency markets had a negative day today:

• EURUSD decreased 0.00020 or -0.02% to 1.15927
• GBPUSD decreased 0.00390 or -0.28% to 1.37255
• USDCHF decreased 0.00120 or -0.13% to 0.91858

Some economic news from Europe today:

Germany:

German Import Price Index (MoM) (Sep) decreased from 1.4% to 1.3%

German Import Price Index (YoY) (Sep) increased from 16.5% to 17.7%

GfK German Consumer Climate (Nov) increased from 0.4% to 0.9%

France:

French Consumer Confidence (Oct) decreased from 101 to 99

French PPI (MoM) (Sep) increased from 1.0% to 1.7%

Italy:

Italian Trade Balance Non-EU (Sep) increased from 1.58B to 1.67B

Swiss:

ZEW Expectations (Oct) decreased from 25.7 to 15.6

Euro Zone:

M3 Money Supply (YoY) (Sep) decreased from 7.9% to 7.4%

Loans to Non Financial Corporations (Sep) increased from 1.5% to 2.1%

Private Sector Loans (YoY) decreased from 4.2% to 4.1%

US/AMERICAS:

The Federal Reserve of Atlanta has downgraded Q3 GDP estimates from 0.5% to 0.2%, according to GDPNow. Government spending grew from 2.1% from 0.8% due to new spending packages. The GDPNow forecast for real net exports during Q3 decreased from 1.56% to -1.81%, contributing to the global supply shortage.

Tesla is having an increasingly bullish week after surpassing the $1 trillion valuation mark on Monday. Hertz announced plans to purchase 100,000 Teslas in a push to move toward electric vehicles. Today, Hertz announced that it will rent 50,000 Tesla cars to Uber by 2023. Drivers for the ride-share company will have the ability to rent a Tesla through Gertz for $334 per week, including insurance and maintenance costs. Uber has also announced plans to move toward EVs, with plans to only use EVs in the US, Canada, and Europe by 2030, and worldwide by 2040. Currently, only 0.15% of Uber drivers in North America can afford to drive EVs.

Raytheon Technologies, a US aerospace and defense firm, believe they will lose “several thousand” employees once the vaccine mandate goes into effect on December 8. Raytheon Chief Executive Greg Hayes believes that his company, which employs 125,000 people, will lose at least 3% of its workforce. He also believes the mandate will cause “some disruption” to the supply chain issue as the already minimized workforce will continue to decline.

US Market Closings:

• Dow declined 266.19 points or -0.74% to 35,490.69
• S&P 500 declined 23.11 points or -0.51% to 4,551.68
• Nasdaq advanced 0.12 of a point or 0% to 15,235.84
• Russell 2000 declined 43.58 points or -1.9% to 2,252.49

Canada Market Closings:

• TSX Composite declined 218.46 points or -1.03% to 20,954.99
• TSX 60 declined 12.4 points or -0.98% to 1,258.5

Brazil Market Closing:

• Bovespa declined 56.43 points or -0.05% to 106,363.1

ENERGY:

The oil markets had a negative day today:

• Crude Oil decreased 2.02 USD/BBL or -2.39% to 82.6200
• Brent decreased 2.03 USD/BBL or -2.35% to 84.3700
• Natural gas decreased 0.065 USD/MMBtu or -1.11% to 5.8170
• Gasoline decreased 0.086 USD/GAL or -3.42% to 2.4308
• Heating oil decreased 0.0088 USD/GAL or -0.34% to 2.5685

The above data was collected around 12:05 EST on Wednesday

• Top commodity gainers: Lithium (2.70%) and Corn (1.98%), Cotton (0.74%) and Canola (1.91%)
• Top commodity losers: Aluminum (-4.98%), Tin (-5.52%), Methanol (-4.91%), and Gasoline (-3.42%)

The above data was collected around 12:20 EST on Wednesday

BONDS:

Japan 0.099%(-0.5bp), US 2’s 0.51% (+0.063%), US 10’s 1.5860%(-2.37bps); US 30’s 2.00%(

-0.043%), Bunds -0.163% (-4.3bp), France 0.1780% (-4.3bp), Italy 0.8929% (-4.86bp), Turkey 19.20% (+0bp), Greece 1.013% (-1.6bp), Portugal 0.384% (-3.5bp); Spain 0.481% (-4.4bp) and UK Gilts 1.002% (-10.8bp).