Market information

Thursday, August 12, 2010

Today, the European statistical office will publish figures on the economic growth in the second quarter. At the same time Germany, France, Italy, and the Netherlands will publish their own figures, which should be returned to Eurostat by tomorrow. Analysts expect a quarter-on-quarter growth of 0.7%. The growth in Germany is expected to be one percentage point higher. The expected figures are very promising because the Eurozone nearly collapsed in the second quarter under the Greek and Southern European budget problems.

Figures published by the U.S. Department of Commerce show that the U.S. trade deficit in June increased a lot stronger than analysts had expected. Analyst expected the trade deficit to amount to USD 42.1 billion in June, while the actual deficit amounts to USD 49.9 billion. In May, the trade deficit denoted USD 42 billion. U.S. exports fell by 1.3% in June, the highest decline since April 2009. Imports continued to increase in June by 3%.

The euro has fallen sharply again yesterday, the currency currently denotes less than USD 1.30. The American system of central banks, the Federal Reserve announced last Tuesday that U.S. growth decreased and the recovery is weaker than expected. This uncertainty will make U.S. investors trade their speculative investments outside of the U.S. with high returns for saver U.S. government bonds, leading to a decrease of the euro against the dollar.

The 6M Euribor remains at 1.16%. The 10-year swap decreased by 5 basis points to 2.71%.

In the attachment below, today’s market data on money and capital market rates as well as other rates are presented. For more history of these rates or other rates feel free to ask: .(JavaScript must be enabled to view this email address).

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