Market Information Friday 17 August 2018

Market Information Friday 17 August 2018

The statistical office of the European Union Eurostat reported that goods exports from Eurozone countries to the rest of the world increased with 5.7% in June 2018 to an amount of EUR 198.6 billion, compared to a year earlier. Imports from the nineteen euro countries increased with 8.6% to a value of EUR 176.1 billion. This resulted in a trade surplus of EUR 22.5 billion. Exports increased with 8.2% to EUR 171.5 billion for the whole European Union, with an import increase of 8.4% to EUR 164.6 billion. This resulted in a trade surplus of EUR 6.9 billion.

Yesterday the Turkish lira gained more than one percent on the US dollar. This is a marginal movement compared to the substantial fluctuations of the past few days. Wednesday night, Qatar announced to invest USD 15 billion in Turkish lira.

For the fourth year in a row, the Dutch economy is growing at a faster pace than economists had expected. The Dutch Economic Policy Analysis (CPB) expects that this will still be the case in 2019. In part, this long period can be explained by the depth of the crisis in previous years. The housing market is full of dynamism after a sharp setback, investors dare to invest again and the consumer spends more. Statistics Netherlands (CBS) reported last Tuesday that the economy increased with 2.9% in the second quarter of 2018. This means that growth hardly decreases compared to the more than 3% achieved last year.

The 6M Euribor is unchanged at -0.27% compared to previous business day. The 10Y Swap increased 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 Thursday 16 August  2018

Market Information Thursday 16 August 2018

Statistics Netherlands announced that the unemployment rate in the Netherlands decreased in July 2018 to 3.8%. In June 2018, unemployment was 3.9%. Due to the decrease, unemployment in the Netherlands reached its lowest point since the end of 2008, when unemployment was 3.6%. The Bureau for Economic Policy Analysis expects that unemployment in 2019 will decrease to 3.5%, an all-time low.

The British national statistical agency stated that inflation in the UK rose from 2.4% in June 2018 to 2.5% in July 2018. The increase was partly caused by higher fuel prices. Core inflation, excluding volatile energy and food prices, remained level at 1.9%. The Bank of England has a target inflation of 2.0%. According to analysts, British inflation will decrease in the coming months.

Japan’s exports increased in July 2018 with 3.9% on an annual basis. Export growth in June 2018 was revised at 6.7% on an annual basis. The export figures were lower than expected by analysts, as they expected exports to grow with 6.3%. The lower export figures were partly caused by an unexpected decrease of exports to the US. Imports of Japan increased in July 2018 with 14.6% on an annual basis, causing the trade deficit of Japan to grow sharply.

The 6M Euribor is unchanged at -0.27% compared to previous business day. The 10Y Swap decreased with 2 basis points 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 15 August 2018

Market Information Wednesday 15 August 2018

The European bureau of statistics Eurostat reported that the Eurozone economy experienced a growth of 0.4% in the second quarter of 2018 compared to the first quarter of 2018. The economic growth rate exceeds Eurostat’s previous forecasts of 0.3%. On an annual basis, the economic growth rate amounted to 2.2% in the second quarter of 2018. Furthermore, Eurostat reports that for the European Union (EU) quarterly economic growth has been 0.4% for the second quarter of 2018, and 2.2% on an annual basis.

Figures of the British Office for National Statistics (ONS) show that the unemployment rate in Great-Britain decreased in the second quarter of 2018. The unemployment rate decreased to 4.2% in the period from April 2018 up to and including June 2018. Furthermore, the ONS reported that 42,000 new jobs were created, and the total amount of unemployed decreased to 1.4 million.

Statistics Netherlands (CBS) published figures showing that GDP growth in the Netherlands was 0.7% in the second quarter of 2018 compared to the first quarter of 2018. Economists forecasted a lower growth rate on average. Furthermore, CBS stated that the increase in GDP is mostly explained by increases in international trade, increases in investments in housing and infrastructure. Additionally, increases in consumer spending are noted as a driver of the economic growth.

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 Tuesday 14 August 2018

Market Information Tuesday 14 August 2018

In the second quarter of 2018 the number of vacancies in the Netherlands reached a new highest point at 251,000 at the end of June 2018, an increase of 16,000 compared to the end of March. The number of unemployed people decreased with 14,000 to 354,000 in the second quarter of 2018, the unemployment rate was 3.9% resulting in 1.4 unemployed workers per vacancy.

Yesterday, oil cartel OPEC published figures which show that the daily production of oil stabilized at 32.3 million barrels per day. According to OPEC, Saudi-Arabia, the largest oil producing member, reduced production to 10.3 million barrels per day. Other OPEC members increased their production levels, causing a minor production increase of 41,000 barrels per day for all OPEC members. The oil cartel further reported that worldwide oil demand in 2019 is expected to be 130,000 barrels per day lower than previously estimated at 32 million barrels a day.

Policy makers in Argentina acted yesterday in an attempt to stabilize its currency amidst fears of an emerging-market crisis following Turkey’s economic woes. The benchmark interest rate was increased with 5% to 45% with a pledge to keep it at what is currently the highest interest rate in the world. The central bank further plans to sell USD 500 million to support the peso.

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 Monday 13 August 2018

Market Information Monday 13 August 2018

This morning the Turske lira decreased 10% against the US dollar. After the Turkish central bank announced an emergency package, the lira was quoted 2% negative shortly after the announcement. According to the Turkish central bank an interest rate increase is not yet planned. The central bank will, however, provide liquidity support to the banking system, so that trade in the Turkish lira runs efficiently.

Today, the Central Bureau for Statistics (CBS) announced that in the Netherlands the turnover of the retail trade in June 2018 increased with 3% on an annual basis. In addition, the sales volume increased by 2.8%. Drug stores realized the largest sales increase in June. Online stores increased sales with 15%.

According to Eurostat, growth in the Eurozone decreased from 0.4% in the first quarter to 0.3% in the second quarter of 2018. Tomorrow, CBS will announce growth figures for the Netherlands and the question is whether the growth will also weaken further in the Netherlands. For the second quarter, much is concerned with the distinction between the domestic economy and trade with foreign countries.

The 6M Euribor is unchanged at -0.27% compared to previous business day. The 10Y Swap decreased with 3 basis points 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.