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Global Market Weekly Report 10.19.2020

Encouraging economic reports lifted US stock markets at the end of the week, reversing earlier losses related to a lack of progress on new fiscal support measures. Canadian equations showed less enthusiasm, reduced refinement. In Europe, many countries have tightened virus prevention regulations that can cause economic losses. As economic worries rose in Europe, global government bond yields declined and the US dollar strengthened. This in turn suppresses the prices of lesser commodities including copper and gold. A prediction by the International Monetary Fund that the global economic return due to COVID-19 was not as severe as previously expected, did little to support markets.

The Bank of Canada indicated a better environment to withdraw emergency measures imposed last spring to stabilize financial markets. However, Canadian equity retreated. Health care recorded the fastest decline among regions in Canada’s S & P / TSX Composite Index. The group plunged as third-quarter earnings declined, leading the season, and results from Appria Inc. highlighted disappointing revenue for cannabis companies. Energy prices fell as oil prices remained 30% below their pre-epidemic levels, and a drop in bond yields caused financial pressure. The technology sector was also low as heavyweight showpieces Inc. stepped back from recent record highs. The industrial sector led the advancement groups in the TSX – mainly due to the strengthening of shares of Canadian Pacific Railway Limited – following a healthy level of intermodal rail volumes. The communications services sector is outperforming Apple Inc., with the unveiling of new iPhones adopting 5G technology. The new product cycle is expected to drive new business for the Canadian mobile carrier. The telecom group got further support from lower bond yields, giving a boost to the utilities sector as well.

This weeks market closing values

EQUITY INDICESLevelChange1-weekYTD1-year5-year
CADCADCADCAD
S&P/TSX16,438.75– 124.06– 0.75%– 3.66%+ 0.07%+ 3.50%
S&P 5003,483.81+ 6.68+ 0.59%+ 9.51%+ 16.47%+ 11.81%
DJIA28,606.31+ 19.41+ 0.46%+ 1.80%+ 5.89%+ 11.12%
FTSE 1005,919.58– 97.07– 1.95%– 22.33%– 16.96%– 4.56%
CAC 404,935.86– 10.95– 0.71%– 12.49%– 8.41%+ 1.96%
DAX12,908.99– 142.24– 1.57%+ 2.78%+ 7.70%+ 6.05%
Nikkei23,410.63– 209.06– 0.21%+ 3.18%+ 7.36%+ 8.13%
Hang Seng24,386.79+ 267.66+ 1.51%– 11.70%– 7.46%+ 1.51%

 

CURRENCY RETURNSCADChange1-weekYTD1-year5-year
US$1.3190+ 0.0069+ 0.53%+ 1.54%– 0.09%+ 0.42%
Euro1.5453– 0.0064– 0.41%+ 6.08%+ 5.72%+ 1.07%
Yen0.0125+ 0.0001+ 0.72%+ 4.64%+ 3.09%+ 2.96%

 

CANADIAN TREASURIESYieldChangeCOMMODITIESUSDChange
3-month0.10+ 0.01Oil$40.74+ $0.14
5-year0.34– 0.04Gold$1,898.88– $31.52
10-year0.57– 0.06Natural Gas$2.16+ $0.67

 

What’s ahead next weeks:

Canada

  • Wholesale trade sales (August)
  • Retail sales (August)
  • Consumer Price Index (September)

U.S.

  • Housing starts, Building permits (September)
  • Conference Board Leading Index (September)
  • Existing home sales (September)
  • Markit Purchasing Managers’ Indices (October)
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About Dwipen Gogoi

Dwipen Gogoi, MBA (IB and IT) and PGDFT from Pune. (Technical Analyst of AliceBlue) I am a You Tuber, Blogger and doing Technical Analysis last 10 years in Stock, Commodity and Forex Market. i am creating various trading strategies for day traders, swing traders, scalp traders.

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