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HomeEconomyMarket Talk – February 25, 2022

Market Talk – February 25, 2022


ASIA:

Singapore has raised concerns with India about its ban of popular gaming app “Free Fire,” owned by technology group Sea Ltd, in the first sign of diplomatic intervention after the move spooked investors, Reuters reported. After the ban, the market value of the New York-listed Southeast Asian firm dropped by $16 billion in a single day, and investors worry India could extend it to Sea’s e-commerce app, Shopee, which recently launched in the country.

The major Asian stock markets had a mixed day today:

  • NIKKEI 225 increased 505.68 points or 1.95% to 26,476.50
  • Shanghai increased 21.45 points or 0.63% to 3,451.41
  • Hang Seng decreased 134.38 points or -0.59% to 22.767.18
  • ASX 200 increased 7.20 points or 0.10% to 6,997.80
  • Kospi increased 27.96 points or 1.06% to 2,676.76
  • SENSEX increased 1,328.61 points or 2.44% to 55,858.52
  • Nifty50 increased 410.45 points or 2.53% to 16,658.40

 

The major Asian currency markets had a mixed day today:

  • AUDUSD increased 0.00576 or 0.80% to 0.72177
  • NZDUSD increased 0.00459 or 0.69% to 0.67388
  • USDJPY increased 0.085 or 0.07% to 115.615
  • USDCNY decreased 0.00285 or -0.05% to 6.31482

 

Precious Metals:

  • Gold decreased 17.84 USD/t oz. or -0.94% to 1,885.30 • Silver decreased 0.287 USD/t. oz or -1.19% to 23.914

 

Some economic news from last night:

Japan:

Tokyo Core CPI (YoY) (Feb) increased from 0.2% to 0.5% Tokyo CPI (YoY) (Feb) increased from 0.6% to 1.0% CPI Tokyo Ex Food and Energy (MoM) (Feb) increased from -0.3% to 0.2% Foreign Bonds Buying increased from -1,896.4B to 40.7B Foreign Investments in Japanese Stocks decreased from -29.5B to -261.9B New Zealand:

Core Retail Sales (QoQ) increased from -6.8% to 6.8% Retail Sales (QoQ) (Q4) increased from -8.1% to 8.6% Retail Sales Quarterly Vs. Year Ago (Q4) increased from -5.2% to 4.4% Trade Balance (MoM) (Jan) decreased from -477M to -1,082M Trade Balance (YoY) (Jan) decreased from -6,780M to -7,710M

 

Some economic news from today

Japan:

Coincident Indicator (MoM) increased from -0.2% to -0.1% Leading Index (MoM) increased from 0.4% to 0.9% Leading Index increased from 103.9 to 104.8

India:

Bank Loan Growth decreased from 8.2% to 7.9% Deposit Growth increased from 8.3% to 9.1% FX Reserves, USD increased from 630.19B to 632.95B

Singapore:

Industrial Production (YoY) (Jan) decreased from 16.7% to 2.0% Industrial Production (MoM) (Jan) decreased from 3.0% to -10.7%

 

 

EUROPE/EMEA:

The major Europe stock markets had a green day:

  • CAC 40 increased 231.38 points or 3.55% to 6,752.43
  • FTSE 100 increased 282.08 points or 3.91% to 7,489.46
  • DAX 30 increased 515.13 points or 3.67% to 14,567.23

 

The major Europe currency markets had a green day today:

  • EURUSD increased 0.00662 or 0.59% to 1.12579 • GBPUSD increased 0.00309 or 0.23% to 1.34029 • USDCHF increased 0.00201 or 0.22% to 0.92781

 

 

Some economic news from Europe today:

Germany:

German GDP (QoQ) (Q4) decreased from 1.7% to -0.3% German GDP (YoY) (Q4) decreased from 2.8% to 1.8% German Import Price Index (MoM) (Jan) increased from 0.1% to 4.3% German Import Price Index (YoY) (Jan) increased from 24.0% to 26.9%

France:

French Consumer Spending (MoM) (Jan) decreased from 0.2% to -1.5% French CPI (MoM) increased from 0.3% to 0.7% French CPI (YoY) increased from 2.9% to 3.6% French GDP (YoY) increased from 3.5% to 5.4% French GDP (QoQ) (Q4) decreased from 3.1% to 0.7% French HICP (YoY) increased from 3.3% to 4.1% French HICP (MoM) increased from 0.2% to 0.8% French PPI (MoM) (Jan) increased from 1.3% to 4.6%

Spain:

Spanish PPI (YoY) increased from 35.2% to 35.7% Spanish Business Confidence increased from 6.7 to 10.4

Italy:

Italian Trade Balance Non-EU (Jan) decreased from 4.74B to -4.17B Italian Business Confidence (Feb) decreased from 113.7 to 113.4 Italian Consumer Confidence (Feb) decreased from 114.2 to 112.4

Norway:

Unemployment Change (Feb) decreased from 81.52K to 73.10K Unemployment Rate n.s.a. (Feb) decreased from 2.60% to 2.30% Euro Zone:

M3 Money Supply (YoY) (Jan) decreased from 6.9% to 6.4% Loans to Non Financial Corporations (Jan) increased from 4.2% to 4.4% Private Sector Loans (YoY) increased from 4.2% to 4.3% Business and Consumer Survey (Feb) increased from 112.7 to 114.0 Business Climate (Feb) decreased from 1.80 to 1.79 Consumer Confidence (Feb) remain the same at -8.8 Consumer Inflation Expectation (Feb) decreased from 38.4 to 37.7 Selling Price Expectations (Feb) increased from 47.4 to 49.8 Services Sentiment (Feb) increased from 9.1 to 13.0 Industrial Sentiment (Feb) increased from 13.9 to 14.0

 

 

US/AMERICAS:

The Federal Reserve’s inflation gauge noted a drastic uptick in prices. The core personal consumption expenditures price index advanced 5.2% from a year prior, almost aligning with estimates of a 5.2% YoY increase. This marks the highest level recorded since April 1983. Food and energy included, the headline PCE spiked 6.1%, a level not seen since February 1982. Core PCE rose 0.5% on a monthly basis, meeting estimates, with the headline rising 0.6%.

US Market Closings:

  • Dow advanced 834.92 points or 2.51% to 34,058.75
  • S&P 500 advanced 95.95 points or 2.24% to 4,384.65
  • Nasdaq advanced 221.04 points or 1.64% to 13,694.62
  • Russell 2000 advanced 44.92 points  or 2.25% to 2,040.93

 

Canada Market Closings:

  • TSX Composite advanced 22.49 points or 1.79% to 1,279.66
  • TSX 60 advanced 22.49 points or 1.79% to 1,279.66

 

Brazil Market Closing:

  • Bovespa advanced 1,550.07 points or 1.39% to 113,141.94

 

 

ENERGY:

 

The oil markets had a negative day today:

 

  • Crude Oil decreased 1.97 USD/BBL or -2.11% to 91.3400 • Brent decreased 1.93 USD/BBL or -1.95% to 97.1500 • Natural gas decreased 0.158 USD/MMBtu or -3.43% to 4.4500 • Gasoline decreased 0.0458 USD/GAL or -1.65% to 2.7252 • Heating oil decreased 0.0650 USD/GAL or -2.24% to 2.8319

 

The above data was collected around 12:50 EST on Friday

 

  • Top commodity gainers: Rhodium (6.10%) and Zinc (0.88%), Rubber (0.97%), Orange Juice (0.59%) • Top commodity losers: Wheat (-8.69%), Palm Oil (-7.42%), Canola(-5.38%) and Corn(-4.86%)

 

The above data was collected around 13:04 EST on Friday.

 

 

 

BONDS:

 

Japan 0.214%(+2.5bp), US 2’s 1.61% (+0.034%), US 10’s 1.9826% (+1.23bps); US 30’s 2.30% (+0.014%), Bunds 0.222% (+5.1bp), France 0.703% (+4.1bp), Italy 1.84% (+3.3bp), Turkey 23.05% (-31bp), Greece 2.5710% (-4.7bp), Portugal 1.106% (+3.1bp); Spain 1.231% (+5.4bp) and UK Gilts 1.460% (+1.3bp).

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