Market Talk – Wednesday, September 11

New Zealand:

  • External Migration & Visitors (Jul) increased from 0.60% to 2.00%
  • Permanent/Long-Term Migration (Jul) increased from 3,990 to 5,100
  • Visitor Arrivals (MoM) increased from -0.1% to 1.3%

South Korea:

  • Unemployment Rate (Aug) decreased from 4.0% to 3.1%

Japan:

  • BSI Large Manufacturing Conditions (Q3) increased from -10.4 to -0.2

Some economic news from today:

India:

  • M3 Money Supply decreased from 10.2% to 9.9%

EUROPE/EMEA:

UK PM Boris Johnson is having a hard time lately. A Scottish court has ruled the suspension of Brexit as unlawful; the suspension will not be lifted until the UK Supreme Court hears an appeal from the government next week. There is also reports that Boris Johnson deliberately mislead the queen in order to approve the suspension in the first place.

Angela Merkel warned the EU if the UK were to adopt a Singapore styled system on the footsteps of Europe. Merkel also spoke about how the German government will do everything in their power to make an orderly Brexit but are also prepared for a disorderly one. “But the fact remains that after the withdrawal of Britain, we have an economic competitor at our door, even if we want to keep close economic, foreign and security cooperation and friendly relations,” she said, referring to a leaner Britain post-Brexit.

Reasons as to why John Bolton was fired emerged today, and it seems to do with President Trump wishing to relax sanctions on Iran for the US to have a meeting with Iranian President Rouhani. This caused Bolton to react forcefully against President Trump and in turn, get fired.

The major Europe stock markets had a green day today:

  • CAC 40 increased 24.86 points or 0.44% to 5,618.06
  • FTSE 100 increased 70.08 points, or 0.96% to 7,338.03
  • DAX increased 90.36 points or 0.74% to 12,359.07

The major Europe currency markets had a mixed day today:

  • EURUSD decreased 0.0035 or 0.31% to 1.1008
  • GBPUSD decreased 0.0020 or 0.16% to 1.2326
  • USDCHF increased 0.0010 or 0.10% to 0.9929
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