Market Information Friday 30 January 2026

In November, U.S. factory orders increased by 2.7%, exceeding expectations, following a 1.2% decline in October, according to U.S. government data. The initial estimate for October was a 1.3% drop. The recovery in November was stronger than anticipated. Excluding transportation, there was a 0.2% increase, and without defense, orders rose by 3.2%.

Copper prices have surged to over $14,000 per metric ton, a record high, creating a dilemma for investors considering whether to push the market higher. On the London Metal Exchange, copper prices jumped 11% fuelled by speculators, marking the biggest one-day gain since November 2008. Despite predictions of a price correction due to high inventories and weak physical demand, some bullish funds continue to invest in copper to hedge against a weak U.S. dollar and geopolitical tensions. However, copper’s reliance on industrial demand, which is weakening at current prices, suggests potential volatility. In China, demand for physical copper is low, with prices on the spot market at a discount compared to the Shanghai Futures Exchange. Analysts predict the upcoming Lunar New Year holiday might trigger a market correction.

Indonesian authorities rushed to stabilize the stock market after an 8% selloff over two days, prompted by concerns about ownership and trading transparency highlighted by MSCI. The selloff wiped $80 billion from the market, with foreign capital outflow driven by worries over President Prabowo Subianto’s fiscal policies and central bank appointments. Regulators have responded by doubling free-float requirements and engaging positively with MSCI. Despite a modest recovery, investor sentiment remains fragile, and investment banks like Goldman Sachs and UBS have downgraded Indonesian stocks. MSCI has warned of a possible downgrade to frontier market status, which could lead to significant capital outflows. Analysts believe such a downgrade is unlikely but acknowledge ongoing risks until fiscal discipline and transparency improve.

The 6M Euribor is unchanged at 2.15% compared to previous business day. The 10Y Swap decreased with 2 basis points to 2.86% 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.