Market Information Wednesday 8 November 2023

According to data provided by Eurostat, the European statistics agency, producer prices in the Eurozone showed a monthly increase of 0.5% in September, compared to a rise of 0.7% in August. However, on an annual basis, producer prices still saw a decline of 12.4% in September. This represented a deterioration compared to the annual decrease of 11.5% reported a month earlier.

In September, the United States witnessed an increase in both their exports and imports, as reported by the U.S. government. Exports rose by 2.2% to a value of $261.1 billion, while imports increased by 2.7% to $322.7 billion. These developments resulted in a 4.9% increase in the U.S. trade deficit, reaching a total of $61.5 billion. These figures exceeded expectations at $59.8 billion. Specifically, the deficit with the European Union amounted to $16.8 billion, compared to a deficit with China of $24.1 billion .

On Tuesday, the oil price showed a significant decline, reaching its lowest level in over three months. The drop is attributed to concerns about reduced demand, driven by weak export figures from China. The December future for a barrel of West Texas Intermediate crude oil closed 4.3% lower at $77.37 per barrel on the New York Mercantile Exchange, marking the lowest closing price since July 21st.

The 6M Euribor increased with 1 basis point to 4.07% compared to previous business day. The 10Y Swap decreased with 7 basis points to 3.16% 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.