Market Information Thursday 7 March 2024

In January 2024, figures published by Statistics Netherlands (CBS) indicated a modest increase in consumer spending in the Netherlands, by 0.3% compared to the previous year, signaling sustained economic stability. Eurostat revealed a slight rise in retail sales in the Eurozone, with an increase of 0.1% on a monthly basis. However, a year-on-year comparison shows a decrease of 1% in retail trade, suggesting challenges within the sector.

In the United States, the private sector created 140,000 new jobs in February, according to ADP, which is just below the forecast of 150,000. Although the increase fell short of expectations, the annual wage increase of 5.1% indicates a resilient labor market. Employees who changed jobs experienced an average wage increase of 7.6%.

U.S. crude oil inventories increased by 1.4 million barrels to a total of 448.5 million barrels. Refined product stocks declined, with a decrease in gasoline inventories of 4.5 million barrels to 239.7 million barrels and a decline in inventories of heating oil and diesel by 4.1 million barrels to 117 million barrels. These shifts coincided with a rise in refinery utilization rates from 81.5% to 84.9%.

The 6M Euribor is unchanged at 3.92% compared to previous business day. The 10Y Swap is unchanged at 2.62% 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.