Market Information Friday 19 April 2019

Market Information Friday 19 April 2019

Research institute Markit announced that activity in the US service industry grew with the same pace in April as one month earlier. The purchasing managers’ index (PMI) reached a score of 52.4 in April. Economists had predicted a level of 52.8.

The growth of the Russian economy has significantly slowed down. While the economy increased last quarter by 2.7% with respect to last year, this quarter the growth was just 0.8%. Purchasing power of consumers declined due to inflation of 4.0%, while wages barely increased. The Russian Department of Finance expects economic growth to be 1.8% this year.

The US Department of Commerce announced that business inventories in the United States increased by 0.3% in February compared to January, in line with the expectations of economists. In January, business inventories increased by 0.9% compared to the previous month.

The 6M Euribor is unchanged at -0.23% compared to previous business day. The 10Y Swap decreased with 5 basis points to 0.53% 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.

Market Information Thursday 18 April 2019

Market Information Thursday 18 April 2019

The German ministry for Economic Affairs reports that the German government has lowered its economic growth expectations to 0.5% annually for 2019, compared to 1% in January. The adjusted expectations are caused by the weakening global economy, continuing trade tensions and uncertainty because of brexit.

Eurostat reports that in March, the inflation rate in the Eurozone has decreased to 1.4% annually. In February, the reported inflation rate was 1.5%. The core inflation rate, excluding the strong fluctuating prices for energy, groceries and luxury foods, was reported at 0.8% annually. The inflation rate in the entire European Union was reported at 1.6% annually, identical to the inflation rate in February.

Additionally, Eurostat reports that the export from countries in the Eurozone to the rest of the world in February have increased with 4.4% compared to the year before. Total exports in February amounted EUR 183.3 billion. Imports of the Eurozone increased with 4% to an amount of EUR 165.4 billion. This has resulted in a trade surplus of EUR 17.9 billion.

The 6M Euribor is unchanged at -0.23% compared to previous business day. The 10Y Swap increased with 2 basis points to 0.58% 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.

Market Information Wednesday 17 April 2019

Market Information Wednesday 17 April 2019

The Organisation for Economic Cooperation and Development (OECD) expects the Chinese economy to grow with 6.2% this year. According to the OECD, the Chinese economy will delay further in the coming years. Trade tensions with the US and other countries delay exports of goods from China and constraint growth.

According to the European statistical office Eurostat, construction in the eurozone increased by 3% in February compared to the previous month. According to a new estimate, output decreased by 0.8% in January. Across the European Union, construction increased by 2.3% in February.

Figures from the Federal Reserve show that industrial production in the United States decreased by 0.1% on a monthly basis in March. Economists expected an increase of 0.2%. In February, in industrial production increased by 0.1%.

The 6M Euribor is unchanged at -0.23% compared to previous business day. The 10Y Swap increased with 1 basis point to 0.56% 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.

Market Information Tuesday 16 April 2019

Market Information Tuesday 16 April 2019

Statistics Netherlands announced yesterday that the economic outlook in the Netherlands was again less positive in April 2019 than in the previous month. Producer confidence is higher than the long-term average, while the consumer confidence is below the long-term average.

The Dutch homeowners’ association stated that consumer confidence in the Dutch housing market is negative for the first time in 4.5 years. The Market Indicator was 99 in March 2019, one point below the neutral value of 100. Consumer confidence is especially low in the cities of Amsterdam, Rotterdam and The Hague, as well as the east and south of the Netherlands.

The European Commissioner for Trade Malmström has indicated the willingness to start trade negotiations between the United States (US) and the European Union (EU) as soon as possible. She stated this after receiving a mandate from the 28 member states. The trade agreement should remove trade barriers and reduce tariffs on industrial products. The EU has excluded agriculture from the negotiations. Trade between the US and the EU could increase by 8 to 9%, an increase valued at 53 billion euro.

The 6M Euribor is unchanged at -0.23% compared to previous business day. The 10Y Swap is unchanged at 0.55% 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.

Market Information Monday 15 April

Market Information Monday 15 April

The United States have moderated their demand with regard to China subsidizing its industries. China had shown frequent protest on this demand. The US therefore focus their attention to other topics that are more acceptable to China. Topics such as stopping the mandatory technology transfer and protection of intellectual property.

American president Donald Trump keeps putting pressure on the Federal Reserve. He claims that the central banks apply too strict monetary policy which harms growth of the US stock markets. At the assembly of the International Monetary Fund (IMF) of last Saturday central bankers have shown concerns on transparency and on the opportunity for them to perform their tasks in a proper fashion.

The volume of Dutch exports has been 2.6% larger in February than in the same month in the previous year, as reported by the Statistics Netherlands (CBS). The growth in January this year was slightly higher. CBS expects that the export environment in April is less favorable than in February.

The 6M Euribor is unchanged at -0.23% compared to previous business day. The 10Y Swap increased with 5 basis points to 0.55% compared to previous business day.

The following macro-economic figures will be published in the coming week:
• Inflation United Kingdom
• Trade balance Japan
• Consumer price index (CPI) United Kingdom
• Producer price index (PPI) United Kingdom