Market Insights

Market Information Thursday 11 July 2024

The Dutch industry once again produced less in May, but the decline has slowed compared to April. This was revealed on Wednesday by Statistics Netherlands. Production, adjusted for calendar effects, decreased by 3.0 percent on a yearly basis. This marks the eleventh consecutive month of declining production. In April, production fell by 3.4 percent on a yearly basis.

Crude oil inventories in the United States unexpectedly dropped sharply last week after already having declined significantly the week before. This was revealed on Wednesday from data from the U.S. Energy Information Administration (EIA). In the week ending on July 5, crude oil inventories fell by 3.4 million barrels to 445.1 million barrels. Analysts had expected a decline of 1.1 million barrels. Gasoline inventories decreased by 2 million barrels to 229.7 million barrels, versus an expected decline of 1.4 million barrels. However, inventories of heating oil and diesel increased by 4.9 million barrels to 124.6 million barrels, whereas a rise of 0.2 million barrels had been anticipated. The refinery capacity utilization increased from 93.5 to 95.4 percent.

Producer prices in China also declined again in June. This was revealed on Wednesday from data from the Chinese Bureau for Statistics. On a yearly basis, prices fell by 0.8 percent last month after a decrease of 1.4 percent in May. Economists had expected a decline of 0.7 percent for June. Producer prices in China have now been under pressure for 21 consecutive months. On a monthly basis, the price level fell by 0.2 percent in June after a rise of 0.2 percent in May.

The 6M Euribor decreased with 1 basis point to 3.67% compared to previous business day. The 10Y Swap decreased with 4 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.

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