Market Information Tuesday 5 December 2023

The price of gold reached a record high hitting $2135 per troy ounce, largely influenced by a weakening dollar. The ongoing rise in gold prices is attributed to speculation that the U.S. Federal Reserve might begin lowering interest rates in the coming months, based upon statements by Chairman Jerome Powell. The upcoming U.S. jobs report on Friday will have an impact on the Fed’s interest rate decisions.

In October, German exports declined slightly, but due to a more significant drop in imports, the trade surplus increased. This was revealed on Monday by the German statistical office Destatis. On a yearly basis, exports decreased by 8.1 percent, while imports saw a more substantial decline of 16.3 percent.

A large number of intensive livestock farmers in the Netherlands are actively seeking government subsidies to cease their farming operations. About 24% of Dutch pig farmers express a desire to discontinue their businesses, with government support. Minister Christianne van der Wal expresses satisfaction with farmer engagement in the voluntary cessation programs, emphasizing that any reduction in nitrogen emissions is beneficial. She commits to increasing the budget if needed to support the farm buyout programs, aimed at addressing the ongoing nitrogen crisis.’

The 6M Euribor decreased with 3 basis points to 4.00% compared to previous business day. The 10Y Swap decreased with 3 basis points to 2.83% 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.