Market Information Monday 15 July 2024

In June, producer prices in the United States increased by 0.2 percent month-on-month, slightly more than the expected 0.1 percent. On an annual basis, there was an increase of 2.6 percent, compared to 2.4 percent in May. Excluding trade, food, and energy, producer prices remained unchanged in June, after a 0.2 percent rise in May.

Chinese exports rose by 8.6 percent year-on-year in June, more than economists had expected. However, imports fell by 2.3 percent, while an increase was anticipated. As a result, China’s trade surplus amounted to 99.05 billion dollars.

The euro rose to 1.09 dollars on Friday, partly caused by confidence in interest rate cuts by the Fed in September and December, following the recent U.S. inflation figures. Analysts estimate the market’s probability of a rate cut in September at 98 percent shortly after the inflation data release. Key points of interest include U.S. producer prices and growth of the Chinese economy, while the potential return of Donald Trump as president could be inflationary due to immigration restrictions and import tariffs.

The 6M Euribor is unchanged at 3.68% compared to previous business day. The 10Y Swap increased with 3 basis points to 2.76% 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.