Market Information Tuesday 8 August 2023

China again exported less in July. This was revealed by Chinese government figures on Tuesday. In dollar terms, exports fell 14.5% year-on-year in July. Economists had expected a 12.0% drop. In June, exports also fell by 12.4%. Chinese imports fell 12.4% year-on-year in July, compared with a 5.0% decline forecast. China’s trade surplus was $80.6 billion in July versus an expectation of $70.3 billion.

German manufacturing output fell again in June. This was revealed on Monday by Destatis, the German statistical office. Production, adjusted for seasonal and working-day effects, was 1.5% lower in June than a month earlier. In May, output fell by a modest 0.1%. On a year-on-year basis, output fell 1.7% in June, following a pass in May.

Dutch inflation fell below 5% in July. This was revealed on Tuesday by Statistics Netherlands. Consumer prices rose 4.6% year-on-year in July. In June, this was still 5.7%. This drop in inflation was mainly due to energy price developments. Consumer prices rose 1.0% in July compared to June. The price level in the past 12 months was highest in October 2022.

The 6M Euribor is unchanged at 3.94% compared to previous business day. The 10Y Swap increased with 5 basis points to 3.20% 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.