Market Information Tuesday 23 April 2024

Consumer confidence in the eurozone continued to improve in April, although remaining negative, according to preliminary figures from the European Commission. The index rose from -14.9 in March to -14.7 mid-April. While this increase is a positive sign, consumer confidence still remains fragile due to persistent economic uncertainties.

The Netherlands cannot afford fiscal and financial stimulation of the housing market given the acute housing shortage, says Paul Hilbers of the IMF. He emphasizes that The Netherlands needs to build more houses but also gradually phase out mortgage interest tax relief and further restrict borrowing norms for homebuyers. These measures could help alleviate pressure on the housing market and ensure long-term economic stability.

The dollar edged slightly lower on Monday amid reduced concerns about the situation in the Middle East. The euro/dollar stood at 1.0639 on Monday end of day, versus around 1.0620 on Friday due to concerns about escalation of hostilities between Israel and Iran. U.S. macroeconomic data later in the week will be the focus of the markets, especially the preliminary figure for economic growth in the US in the first quarter and the inflation figure in the PCE report on US household incomes and expenditures on Friday.

The 6M Euribor increased with 1 basis point to 3.85% compared to previous business day. The 10Y Swap decreased with 2 basis points to 2.79% 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.