Market Information Wednesday 26 June 2024

Oil prices fell on Tuesday after recent increases, with the market awaiting this week’s U.S. crude inventory report ahead of the busy July 4th holiday weekend; West Texas Intermediate crude closed 1 percent lower at $80.83 per barrel. Analysts predict a significant drop in U.S. crude inventories, supporting optimistic sentiment driven by recovering oil demand and steady crude production, amid heightened geopolitical tensions from drone attacks on Russian oil infrastructure and rising tensions in the Middle East.

U.S. consumer confidence dipped slightly in June to 100.4 from 101.3 in May, remaining just above the 100-point threshold, according to The Conference Board. While the index for current economic conditions increased slightly, expectations for the next six months fell to 73.0 in June, from 74.9 in May, signalling potential recession concerns as any expectation below 80 points to a recession within a year.

U.S. home prices experienced a slight deceleration in their annual growth rate in April, with the 10 largest cities seeing an increase of 8.0%, down from 8.3% in March, according to the S&P Case-Shiller index. Similarly, the 20 largest metropolitan areas recorded a 7.2% year-over-year increase, slightly lower than the 7.5% growth seen the previous month.

The 6M Euribor decreased with 3 basis points to 3.66% compared to previous business day. The 10Y Swap is unchanged at 2.76% 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.