Market Information Friday 10 May 2024

The Bank of England maintained the key interest rate today at 5.25 percent. The decision followed recent economic figures indicating an expected growth of 0.4 percent in the first quarter of the British economy, with a forecast of further slowdown to 0.2 percent in the second quarter. Shortly after the Bank of England’s interest rate decision, the British pound fell by 0.3 percent to 1.2456 US dollars.

According to data from the Chinese government released on Thursday, Chinese exports surged more in April than expected. On an annual basis, exports in US dollars rose by 1.5 percent, exceeding the predicted increase of 1.0 percent, following a 7.5 percent decline the previous month. Imports increased by 8.4 percent, after a previous decrease of 1.9 percent in March, surpassing economists’ forecasted rise of 4.5 percent. As a result, China’s trade surplus in April amounted to 72.35 billion US dollars, below the anticipated 77.1 billion US dollars.

In the week ending on May 4th, the number of new applications for unemployment benefits in the United States rose sharply to 231,000, an increase of 22,000 compared to the previous period. 214,000 applications were expected. The four-week moving average also increased to 215,000, a rise of 4,750. Additionally, the number of extended assistance claims rose to 1,785,000 in the week ending April 27th, an increase of 17,000.

The 6M Euribor is unchanged at 3.80% compared to previous business day. The 10Y Swap increased with 3 basis points to 2.78% 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.