Market Information Thursday 8 February 2024

The U.S. trade deficit in December rose slightly more than expected to $62.2 billion from a revised figure of $61.9 billion the previous month, surpassing analysts’ projections of $62.1 billion. Exports increased by 1.5% to $258.2 billion, while imports climbed by 1.3% to $320.4 billion.

Officials from the Federal Reserve are considering lowering interest rates in light of slowing inflation. However, the decision may not be made immediately and progress towards reducing price hikes will need to be sustained before any action is taken. The Fed also emphasizes their independence from political influence and is committed to maintaining integrity in their decision making process.

Last week, U.S. crude oil inventories increased by 5.5 million barrels to 427.4 million barrels, while gasoline, heating oil, and diesel stocks decreased. Gasoline inventories dropped by 3.1 million barrels to 251.0 million barrels, and distillate stocks, which include heating oil and diesel, fell by 3.2 million barrels to 127.6 million barrels as refinery utilization slightly decreased from 82.9% to 82.4%.

The 6M Euribor increased with 1 basis point to 3.92% compared to previous business day. The 10Y Swap increased with 3 basis points to 2.70% 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.