Market Information Tuesday 9 December 2025

The euro’s appreciation is reinforcing the deflationary impact of cheaper Chinese exports and could push the European Central Bank to cut interest rates further after recently signalling it is in a “good place”. The euro trades near 1.166 dollars, after reaching a four year high of 1.1918 in September, and is on track for a gain of almost 13 percent this year, its strongest annual performance since 2017.

United States households became more pessimistic about their current and future finances in November, according to the New York Federal Reserve Survey of Consumer Expectations. Despite this, labour market perceptions improved, with expected job loss over the next year at its lowest since December 2024. Inflation expectations held at 3.2 percent, while three and five year horizons remained at 3.0 percent. The report precedes a Federal Reserve meeting where policymakers debate further rate cuts.

Gold prices eased slightly as investors remained cautious ahead of the United States Federal Reserve policy meeting and comments by Chair Jerome Powell on the monetary outlook. Spot gold slipped 0.2 percent to 4,189.49 dollars per ounce, while February futures settled 0.6 percent lower at 4,217.7 dollars.

The 6M Euribor increased with 2 basis points to 2.15% compared to previous business day. The 10Y Swap increased with 6 basis points to 2.90% 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.