ASIA:India’s industrial output, grew at a faster-than-expected rate of 3.8% year-on-year in December, exceeding economists’ predictions of 2.4%. This growth was primarily driven by a boost in manufacturing activity, with manufacturing output increasing by 3.9% compared to the previous year. However, electricity generation and mining activities showed slower growth rates in December compared to the same month the previous year. Despite variations in specific sectors, overall industrial output for the first nine months of the fiscal year starting in April increased by 6.1% compared to the same period the previous year.The major Asian stock markets had a mixed day today:
The major Asian currency markets had a mixed day today:
The above data was collected around 12:33 EST.Precious Metals:
The above data was collected around 12:37 EST.EUROPE/EMEA:Austria, facing ongoing challenges with high Russian gas imports amid the Ukraine war, is considering more drastic measures, including terminating energy company OMV’s long-term contract with Gazprom, according to the country’s energy minister. Austria, traditionally close to Russia, has been working to reduce its reliance on Russian gas since the 2022 invasion of Ukraine. Despite political statements about Moscow’s unreliability, the partly state-owned OMV has affirmed its commitment to continuing gas purchases from Gazprom under an existing contract extending until 2040.The major Europe stock markets had a negative day today:
The major Europe currency markets had a mixed day today:
The above data was collected around 12:42 EST.US/AMERICAS:In January 2024, the US inflation rate slowed from 3.4% to 3.1% on a 12-month basis, as reported by the Bureau of Labor Statistics this Tuesday. Core inflation, which excludes food and energy prices, also decreased to 3.9% over the same period. While this slowdown was a positive sign for the Federal Reserve, it was still above expectations and the central bank’s 2% target. The report attributed the slowdown to factors such as a decrease in the price of used cars and gas prices, but highlighted that food prices, particularly at restaurants, rose, contributing to the overall inflation rate. The housing market and healthcare services were also significant contributors to the high inflation. Despite the slowdown, the data indicated that inflation is very much a concern.US Market Closings:
Canada Market Closings:
Brazil Market Closing:
ENERGY:The oil markets had a mixed day today:
The above data was collected around 12:45 EST.
The above data was collected around 12:56 EST.More By This Author:
