Market Insights

Market Information Tuesday 5 September 2023

As expected, the Japanese service sector showed stronger growth in August, according to the final figures released by S&P Global on Tuesday. The Purchasing Managers’ Index (PMI) for the service sector reached 54.3 in August, compared to 53.8 in July. A preliminary measurement had already indicated an increase in the index to 54.3.

On Tuesday, the Reserve Bank of Australia once again decided not to raise interest rates, as indicated in their latest interest rate announcement. Th key interest rate remained at 4.10%. In both early July and August, the central bank kept the interest rate unchanged. However, in both May and June, the interest rate was increased by 25 basis points.

On Monday, the euro was under pressure due to economic signals indicating that the prospects for the eurozone are weaker than those for the American economy. The euro fell below 1.08, after reaching a peak of 1.1277 in mid-May.

The 6M Euribor decreased with 6 basis points to 3.93% compared to previous business day. The 10Y Swap increased with 3 basis points to 3.15% 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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