Market Information Friday 31 May 2024

Pending home sales in the United States dropped more than expected in April, according to figures from the National Association of Realtors (NAR). The sales index fell by 7.7 percent to 72.3, while economists had predicted a 1.1 percent decline. On an annual basis, pending home sales decreased by 7.4 percent in April. These figures indicate a significantly weaker housing market than anticipated.

Producers in the Dutch industry were less negative in May compared to April, reported Statistics Netherlands. The confidence index rose from -3.6 to -2.8, with manufacturers being more positive about the expected business activity. Despite this increase, producer confidence remained below the 20-year average of -1.3 in May. The highest value of 10.4 was recorded in October 2021, while the lowest value of -31.5 was reached in April 2020.

Crude oil inventories in the United States fell by 4.2 million barrels to 454.7 million barrels last week, reported the American Energy Agency EIA. However, gasoline inventories increased by over 2 million barrels to 228.8 million barrels, and the inventories of heating oil and diesel rose by 2.5 million barrels to 119.3 million barrels. Additionally, the refinery capacity utilization increased from 91.7 to 94.3 percent.

The 6M Euribor increased with 2 basis points to 3.77% compared to previous business day. The 10Y Swap decreased with 5 basis points to 2.88% 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.