Market Information Wednesday 18 December 2024

In December, German businesses expressed increased pessimism regarding their economic prospects compared to the previous month, a decline that caught analysts off guard. The Ifo index, which gauges business confidence, fell to 84.7 points, indicating that the economic fragility in Germany is anticipated to persist. Sentiment among entrepreneurs in the manufacturing, trade, and services sectors deteriorated, while the construction sector experienced a modest improvement.

Yesterday, oil prices fell due to concerns about reduced demand from China and plans for increased oil production in the U.S. under Donald Trump’s new administration. A February contract for West Texas Intermediate crude closed 1% lower at $69.65 on the New York Mercantile Exchange. This decline follows a rise last week, spurred by recent measures to stimulate the economy in China.

Canada’s annual inflation rate dropped unexpectedly to 1.9% in November, influenced by a widespread deceleration in price increases, as reported yesterday. Reuters analysts had predicted that the inflation rate would persist at 2% from October, alongside a 0.1% monthly rise in the consumer price index. Despite these projections, the central bank’s favored core inflation metrics, CPI-median and CPI-trim, remained stable, though last month’s figures saw a slight upward revision.

The 6M Euribor increased with 2 basis points to 2.66% compared to previous business day. The 10Y Swap decreased with 1 basis point to 2.23% 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.