Market Talk – Tuesday, Oct. 8

South Korea:

  • Current Account (Aug) decreased from 6.95B to 5.27B

Some economic news from today:


  • Economy Watchers Current Index (Sep) increased from 42.8 to 46.7


  • FX Reserves (USD) decreased from 3.107T to 3.092T

Hong Kong:

  • Foreign Reserves (USD) (Sep) increased from 432.80B to 438.70B


According to the BBC, a source has said a Brexit deal is “essentially impossible” after a call between the PM and Angela Merkel. The call was regarding the proposals PM Boris Johnson put forward to the EU. The call seemed as if a chance of the EU accepting the proposal was “overwhelmingly unlikely.”

President of the European Council Donald Tusk tweeted publicly to PM Johnson, “What’s at stake is not winning some stupid blame game. At stake is the future of Europe and the UK as well as the security and interests of our people.” As time is running out, the relationship between the EU and UK officials seems to be worsening.

Meanwhile, the European Court of Auditors released an independent audit of EU spending, stating that the EU managed their budget effectively under Junker.“In its latest report about the management of the EU budget, the European Court of Auditors – the independent auditor of EU spending – confirmed that the Juncker Commission had significantly improved the way it administered the EU budget. The auditors gave the EU annual accounts a clean bill of health for the 12th year in a row and a qualified opinion on the 2018 payments for a third consecutive year. This is a high assessment of the targeted efforts of the Juncker Commission to make sure that every euro from the EU budget is spent in line with the rules and generates added value for our citizens.”

German police are investigating a man who drove a stolen lorry into a line of cars in Limburg in the western state of Hesse, injuring eight people. The man was of Syrian origin and the police are not ruling out the act as an act of terrorism.

The major Europe stock markets had a negative day today:

  • CAC 40 decreased 64.99 points or -1.18% to 5,456.62
  • FTSE 100 decreased 54.73 points, or -0.76% to 7,143.15
  • DAX 30 decreased 127.23 points or -1.05% to 11,970.20

The major Europe currency markets had a negative day today:

  • EURUSD decreased 0.0018 or 0.16% to 1.0953
  • GBPUSD decreased 0.0082 or 0.67% to 1.2208
  • USDCHF decreased 0.0004 or 0.04% to 0.9942
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