Market Talk – Wednesday, March 13

Asia:

Most of the major Asian markets closed in the red today. Decreases were led by NIKKEI 225 (-253.27 points, -1.18%, 21,243 close), followed by Shanghai (-32.82 points, -1.07%, 3,027 close). Hang Seng was down this Wednesday as well (-101.92 points, -0.35%, 28,818 close). KOSPI and ASX200 both posted losses for the day (-5.81 points, -0.27%, 2,151 close) and (-18.93 points, -0.31%, 6155 close) respectfully. However, SENSEX took the opposite route and increased by over 216 points (+0.58%,37,752 close).

The Asian currency markets had a mixed day. The AUDUSD increased 0.0011 or 0.16% to 0.7091; the NZDUSD decreased 0.0006 or 0.09% to 0.6853; the USDJPY decreased 0.3020 or 0.27% to 111.0480, and the USDCNY dropped 0.00002 points traded at 6.7051.

Both gold and silver performed well today after increasing 9.14 USD/t oz. or 0.70% to 1,312.98 and 0.04 USD/t. oz or 0.28% to 15.51.

New economic figures for Asia were posted this Wednesday:

  • Japan’s Tertiary Industry Activity Index (MoM) increased from -0.5% to 0.4%
  • Indian’s M3 Money Supply dropped from 10.8% to 10.5%

Europe:

The results are in: Britain will not exit the EU without a deal in place. The no-deal Brexit vote passed 312 votes to 278 this Wednesday. As expected, Brussels responded to the news unfavorably, declaring that they will not renegotiate a deal. On Thursday, lawmakers will meet again to determine whether to extend the official date of departure.

The pound rose nearly 2% against the USD upon hearing the news.

Most of the major European markets closed in the green this Wednesday. The FTSE 100 gained 8 points or 0.11% to 7,159; CAC 40 increased 36 points or 0.69% to 5306, and DAX increased 48 points or 0.42% to 11572.

Most of the major European currencies increased against USD today. The GBPUSD increased 0.01861 points (+1.42%) to 1.32591; the EURUSD increased 0.0044 or 0.39% to 1.1330. However, the USDCHF decreased by 0.0045 or 0.45% to 1.0032.

Some economics news from Europe:

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