Market Information Friday 20 July 2018

Market Information Friday 20 July 2018

Yesterday, the British pound decreased to its lowest level in ten months, to USD 1.30. The last decrease in the British Pound was largely influenced by retail sales. Retail sales decreased with 0.5% in June 2018 compared to May 2018. Economists expected an increase of 0.2% in retail sales.

According to the Conference Board research firm, the prospects for the US economy improved in June 2018. The economic barometer increased by 0.5% last month. Economists expected an increase of 0.4%. In May the index increased by 0.2%.

The US Department of Labor announced that the number of first applications for unemployment benefits in the United States decreased in the past week to 207,000 applications. A week earlier, applications amounted to 215,000 applications. On average, economists expected a slight increase in unemployment applications to 220,000.

The 6M Euribor is unchanged at -0.27% compared to previous business day. The 10Y Swap is unchanged at 0.86% compared to previous business day.

In the attachment, today’s market data on money and capital market rates as well as other rates are presented. Should you require more information about these rates, please contact us at marktinformatie@zanders.eu.

Market Information Thursday 19 July 2018

Market Information Thursday 19 July 2018

Yesterday, the US Department of Commerce published figures showing that the number of homes under construction in the United States decreased by 12.3% in June 2018 compared to May 2018. The construction amounted to 1.17 million houses on an annual basis. In average, economists expected a decrease of 2.2%. In May, housing construction increased by 4.8%.

According to Statistics Netherlands, unemployment in the Netherlands remains stable at 3.9% in June 2018. In absolute terms, 345,000 people are unemployed. Unemployment in the Netherlands has been stable for months. In the second quarter of 2018, unemployment was 3.9% as well. Since early 2014, unemployment has halved compared to June 2018.

Since yesterday the European Union (EU) imposed on Chinese e-bikes with high import duties, ranging from 21.8% to 83.6%. Earlier, the European Commission also imposes high import duties on Chinese low-priced steel and low-priced solar panels. The EU is China’s most important trading partner. China exported EUR 375 billion worth of goods to the EU last year. The EU exported EUR 198 billion worth of goods to China.

The 6M Euribor is unchanged at -0.27% compared to previous business day. The 10Y Swap decreased with 1 basis point to 0.86% compared to previous business day.

In the attachment, today’s market data on money and capital market rates as well as other rates are presented. Should you require more information about these rates, please contact us at marktinformatie@zanders.eu.

Market Information Wednesday 18 July 2018

Market Information Wednesday 18 July 2018

Yesterday, the president of the Federal Reserve (Fed), Jerome Powell announced that the Fed will continue to gradually increase the official interest rates. Powell further stated that gradually increasing the interest rate is the best response to the expected development of the US economy, and the best instrument to maintain the inflation target of 2%. Last June the Fed raised interest rates for the second time in 2018, the Fed projects to raise interest rates twice more in 2018 and three times in 2019.

The Federal Reserve also released the Industrial Production and Capacity Utilization report yesterday. The Fed reports that industrial production in the United States has increased by 0.6% in June 2018 compared to May 2018. Economists forecasted an increase of 0.5% for the same period. Additionally, the previously reported growth in May 2018 has been revised from a decrease of 0,1% to a growth of 0.5%.

The 6M Euribor is unchanged at -0.27% compared to previous business day. The 10Y Swap decreased with 1 basis point to 0.87% compared to previous business day.

In the attachment, today’s market data on money and capital market rates as well as other rates are presented. Should you require more information about these rates, please contact us at marktinformatie@zanders.eu.

Market Information Tuesday 17 July 2018

Market Information Tuesday 17 July 2018

In May 2018 the countries in the euro area exported goods worth EUR 189.6 billion to countries outside the euro area, a decrease of 0.8% compared to May 2017. Imports increased with 0.7% in May compared to last year, at EUR 173.1 billion. The decrease in exports and the increase in imports caused a decrease in the euro area trade surplus from EUR 19.3 billion in May 2017 to EUR 16.5 billion in May 2018. The trade surplus of the 28 countries in the European Union was EUR 0.2 billion at the end of May.

Yesterday, the price of a barrel of Brent oil decreased with 3 percent amidst growing concerns about the trade war between the United States and China and reports that Saudi Arabia is prepared to export more oil to Asian countries. Saudi Arabia is one of the most-important OPEC members and indicated at last month’s OPEC meeting that it is planning to increase the production of oil. Meanwhile, the United States indicated that officials are considering using part of the emergency oil stockpiles in an attempt to further decrease the oil price. Together, both countries produce approximately one fifth of the world supply of crude oil.

According to the Statistics Netherlands’ Business Outlook indicators, the economy of the Netherlands is performing above the long-term trend on all indicators. Consumer confidence remains high and above the long-term trend, whereas producer confidence decreased slightly in July, yet still above the twenty-year average.

The 6M Euribor is unchanged at -0.27% compared to previous business day. The 10Y Swap increased with 1 basis point to 0.88% compared to previous business day.

In the attachment, today’s market data on money and capital market rates as well as other rates are presented. Should you require more information about these rates, please contact us at marktinformatie@zanders.eu.

Market Information Monday 16 July 2018

Market Information Monday 16 July 2018

The National Bureau of Statistics of China stated that in the second quarter of 2018 the Chinese economy grew with 6.7% on an annual basis, versus 6.8% in the first quarter of 2018. The lower growth was partly caused by lower investments in infrastructure. As a response to the news ING Bank lowered its growth expectations for China in 2018 from 6.75% to 6.65%. According to the bank, the looming trade war with the United States will mean economic growth will decrease even further. For the long term the Chinese government has a 6.5% annual growth rate target.

Credit rating agency Fitch lowered the credit rating of Turkey from BB+ to BB. Furthermore, it lowered the outlook from stable to negative. As most important reasons for the downgrade Fitch mentions concerns of the new economic policy of the Turkish government and the first measures the new Turkish government took after the elections in June 2018. Also, rising inflation and the weak Turkish lira are named as reasons for the downgrade.

Statistics Netherlands stated that turnover of the Dutch retail sector in May 2018 increased with 3.4% compared to the previous month. The sales volume of the sector increased with 3.2%. A turnover increase was realised by the food sector and non-food sector alike. Online shops increased their turnovers by 13.5%.

The 6M Euribor is unchanged at -0.27% compared to previous business day. The 10Y Swap decreased with 1 basis point to 0.87% compared to previous business day.

In the attachment, today’s market data on money and capital market rates as well as other rates are presented. Should you require more information about these rates, please contact us at marktinformatie@zanders.eu.