Image Source:
Asia:In October, China experienced a slowdown in consumption rebound and a loss of momentum in private business confidence, as indicated by independent surveys and alternative data. Measures such as an indicator of consumer demand for recreation and transport, a survey of consumer sentiment, and a poll of private business sentiment all showed declines from the previous month, suggesting a bumpy economic recovery in China.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 11:46 EST.Precious Metals:Gold increased 19.97 USD/t oz. or 1.03% to 1,965.86Silver increased 0.831 USD/t. oz or 3.73%% to 23.136The above data was collected around 11:50 EST.No economic news from last night:Some economic news from today:India:WPI Inflation (YoY) (Oct) decreased from -0.26% to -0.52% Europe/EMEA:The pound showed a 0.2% increase against the dollar, and almost 0.3% against the euro on Monday, as the Bank of England considers cutting UK interest rates, possibly starting in May. According to Morgan Stanley, policymakers are expected to reduce rates to 4.25% by the end of the next year. The bank anticipates a technical recession in the UK by the end of the year, with the economy contracting by 0.1% in 2024 before a 1% growth in 2025. This potential rate cut is seen as positive news for mortgage borrowers facing increased payments.The major European stock markets had a green day today:
The major European currency markets had a mixed day today:
The above data was collected around 11:56 EST. Some economic news from Europe today:UK:Average Earnings Index +Bonus (Sep) decreased from 8.2% to 7.9%Claimant Count Change (Oct) increased from 9.0K to 17.8KEmployment Change 3M/3M (MoM) (Sep) increased from -82K to 54KUnemployment Rate (Sep) remains the same at 4.2%Swiss:PPI (MoM) (Oct) increased from -0.1% to 0.2%Spain:Spanish CPI (YoY) (Oct) remains the same at 3.5%Spanish HICP (YoY) (Oct) increased from 3.3% to 3.5%Germany:German ZEW Current Conditions (Nov) increased from -79.9 to -79.8German ZEW Economic Sentiment (Nov) increased from -1.1 to 9.8Euro Zone:GDP (YoY) (Q3) decreased from 0.5% to 0.1%GDP (QoQ) (Q3) decreased from 0.2% to -0.1%ZEW Economic Sentiment (Nov) increased from 2.3 to 13.8
US/AMERICAS:In October 2023, the US consumer price index (CPI) remained unchanged from the previous month, signaling a potential easing of persistently high prices in the US economy. The CPI, which measures a broad range of commonly used goods and services, increased by 3.2% from a year ago, despite remaining flat for the month. Economists had anticipated a 0.1% increase and a 3.3% rise from the previous year. Excluding volatile food and energy prices, the core CPI increased by 0.2% and 4% annually, slightly lower than the expected 0.3% and 4.1% respectively. This data suggests a potential slowdown in inflationary pressures, with core consumer-price growth cooler than expected, which may impact the Federal Reserve’s decision-making regarding interest rate hikes.US Market Closings:
Canada Market Closings:
Brazil Market Closing:
Energy:The oil markets had a mixed day today:
The above data was collected around 11:59 EST.
The above data was collected around 12:08 EST.
Bonds:Japan 0.865%(-1.1bp), US 2’s 4.84% (-0.197%), US 10’s 4.4648%(-16.72bps); US 30’s 4.63% (-0.112%), Bunds 2.604% (-11.3bp), France 3.159% (-13bp), Italy 4.409% (-15.1bp), Turkey 27.03% (-14bp), Greece 3.911% (-8.5bp), Portugal 3.313% (-11.7bp), Spain 3.635% (-13.1bp) and UK Gilts 4.155% (-16.4bp). The above data was collected around 12:20 EST.More By This Author:Market Talk – Monday, Nov. 13Market Talk – Friday, Nov. 10Market Talk – Thursday, Nov. 2
