Dutch households spent more in July. This was revealed on Thursday by figures from Statistics Netherlands. Spending by Dutch households increased 0.4% year-on-year in July, following a 1.2% year-on-year increase in June and a 0.5% year-on-year increase in May. These increases are volume increases, adjusted for price changes and the composition of shopping days.

China exported less in August than in the same month last year. This was revealed on Thursday by figures from the Chinese government. Measured in US dollars, exports decreased by 8.8% year-on-year in August. In June, exports already decreased by 14.5% year-on-year. Chinese imports decreased by 7.3% year-on-year in August.

Oil prices rose for the ninth consecutive day to the highest this year. October futures for a barrel of West Texas Intermediate crude oil closed 1.0% higher on the New York Mercantile Exchange. Recently, oil prices received a boost from strong economic results in the US and decisions by Saudi Arabia and Russia to extend their production cuts until the end of this year.

The 6M Euribor decreased with 2 basis points to 3.94% compared to previous business day. The 10Y Swap increased with 3 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.

Eurozone producer prices fell again in July. This was revealed on Tuesday by Eurostat, the European statistical office. On a monthly basis, producer prices fell 0.5%, following a 0.4% decline in June. Economists’ expectations were for a 0.6% decline. On a year-on-year basis, producer prices fell as much as 7.6% in July. A month earlier, the decline was 3.4%. Excluding energy prices, producer prices fell 0.4% on a monthly basis in July, following a minus of also 0.4% a month earlier. On a year-on-year basis, prices excluding energy rose 1.6%.

Orders placed at US factories fell almost as much in July as they rose a month earlier. This was revealed by US government figures on Tuesday. Factory orders fell 2.1% month-on-month, after rising 2.3% a month earlier. Analysts expected a 2.3% decline for July. Orders excluding the military fell 2.2% in July and excluding transport were up 0.8%.

China’s services sector grew at a significantly slower pace in August. This was revealed by figures from S&P Global on Tuesday. The services purchasing managers’ index came in at 51.8 in August, down from 54.1 in July. This caused the index to drop to its lowest level in eight months. China’s purchasing managers’ index for manufacturing was found to have risen to 51.0 in August from 49.2 in July last Friday. The composite index thus fell to 51.7 from 51.9, the lowest reading since January.

The 6M Euribor increased with 3 basis points to 3.96% compared to previous business day. The 10Y Swap increased with 2 basis points to 3.17% 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.

As expected, the Japanese service sector showed stronger growth in August, according to the final figures released by S&P Global on Tuesday. The Purchasing Managers’ Index (PMI) for the service sector reached 54.3 in August, compared to 53.8 in July. A preliminary measurement had already indicated an increase in the index to 54.3.

On Tuesday, the Reserve Bank of Australia once again decided not to raise interest rates, as indicated in their latest interest rate announcement. Th key interest rate remained at 4.10%. In both early July and August, the central bank kept the interest rate unchanged. However, in both May and June, the interest rate was increased by 25 basis points.

On Monday, the euro was under pressure due to economic signals indicating that the prospects for the eurozone are weaker than those for the American economy. The euro fell below 1.08, after reaching a peak of 1.1277 in mid-May.

The 6M Euribor decreased with 6 basis points to 3.93% compared to previous business day. The 10Y Swap increased with 3 basis points to 3.15% 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.

German exports declined in July 2023, while imports increased, as revealed by data from the German statistical agency Destatis on Monday. Exports fell by 0.9% on a monthly basis, which was a smaller decrease than the 1.5% decline that was expected by economists.

The oil price has continued to rise and was trading near its highest point since November of last year. With a settlement at $85.55, the price of a barrel of West Texas Intermediate increased with 2.3% on Friday. On a weekly basis, the oil price increased by approximately 7%.

The U.S. manufacturing sector decreased less in August 2023 compared to the previous month. This was revealed in data from the Institute for Supply Management on Friday. The Purchasing Managers’ Index (PMI) increased from 46.4 in July 2023 to 47.6 last month. The market had anticipated an index reading of 46.9.

The 6M Euribor increased with 3 basis points to 3.99% compared to previous business day. The 10Y Swap increased with 8 basis points to 3.12% 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.

The Dutch industry struggled in August, despite an increase in the Purchasing Managers’ Index. This was revealed in the figures from Nevi on Friday. The Purchasing Managers’ Index for the Dutch industry increased from 45.3 in July 2023 to 45.9 in August 2023, as reported on Friday.

The Chinese industry grew again in August, as revealed by S&P Global’s data on Friday. The Purchasing Managers’ Index for the Chinese industry increased from 49.2 in July 2023 to 51.0 in August 2023. Economist Wang Zhe from Caixin emphasized that this is the third time in four months that the index has indicated growth.

As expected, the US core inflation in July 2023 was slightly higher than the previous month. This was revealed on Thursday by the US government. On an annual basis, the PCE core inflation in July 2023 was reported at 4.2%, up from 4.1% in June 2023. The reported inflation was in line with the expectations from the economists.

The 6M Euribor increased with 2 basis points to 3.96% compared to previous business day. The 10Y Swap decreased with 9 basis points to 3.04% 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.

Consumer prices in the Netherlands increased less in August than in July. This was revealed on Thursday in a first estimate by Statistics Netherlands. Last month, the price level increased 3.0% year-on-year, following a 4.6% increase in July, a 5.7% increase in June and a 6.1% increase in May.

The US economy grew less strongly in the second quarter of this year than previously reported. This was revealed on Wednesday by new figures from the US Department of Commerce. The US economy grew by 2.1% in the second quarter, according to the ministry. The previous estimate presented a growth in gross domestic product of 2.4%.

Economic confidence in the eurozone fell in August. European Commission figures showed this on Wednesday. The index of sentiment decreased from 94.5 to 93.3. It is the third month in a row that economic confidence in the eurozone has fallen.

The 6M Euribor is unchanged at 3.94% compared to previous business day. The 10Y Swap increased with 3 basis points to 3.13% 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.

Output prices in the Dutch industry were lower in July than in the same period last year. This was revealed on Wednesday by figures from Statistics Netherlands. Output prices decreased by 7.7% year-on-year in July. In June, prices already decreased by 7.2% year-on-year and in May by 5.1% year-on-year. The development of output prices is related to crude oil prices. The price for a barrel of North Sea Brent in July was 29.0% lower than in July last year.

The number of job openings in the United States fell in July. This was revealed on Tuesday by figures from the U.S. Department of Labor. There were 8.8 million job openings in July, against 9.2 million job openings in June. In July 2022, there were 11.4 million job openings. The number of job openings thus fell 22.8% year-on-year.

The confidence among entrepreneurs in the Dutch industry declined further in August. This was revealed on Wednesday by figures from Statistics Netherlands. The confidence index decreased from 0.1 in July to -2.2 in August. The confidence index averaged 1.4 over the past 20 years, with a high of 12.7 in November 2021 and a low of -28.7 in April 2020.

The 6M Euribor is unchanged at 3.94% compared to previous business day. The 10Y Swap decreased with 5 basis points to 3.10% 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.

Consumer confidence in Germany has further declined for September. This was revealed on Tuesday by measurements from the research agency GfK. The confidence index reached -25.5, compared to -24.6 in August 2023. Initially, an index of -25.4 had been reported.

The oil price increased on Monday with 0.3% at a settlement at $80.10 for a barrel of West Texas Intermediate. Oil futures received a boost in Asian trading after the Chinese Ministry of Finance and the Chinese stock market regulator introduced measures to stimulate buying interest in stocks, including halving a tax on stock trading and limiting the selling by major shareholders in companies that haven’t paid out sufficient dividends.

The Netherlands has become less dependent on it’s biggest trading partner Germany. That is one of the reasons why the economy recovered faster from the COVID-19 crisis. Germany is still the largest trading partner of the Netherlands, but the total share in exports decreased from 30% in 1980 to 23% in 2021, concluded the Netherlands Bureau for Economic Policy Analysis

The 6M Euribor increased with 1 basis point to 3.94% compared to previous business day. The 10Y Swap decreased with 1 basis point to 3.15% 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.

On Friday, the price of a barrel of crude oil closed higher following the speech by Fed Chairman Jerome Powell at the central bank symposium in Jackson Hole, Wyoming. The October future for a barrel of West Texas Intermediate crude oil closed at USD 79.83 on the New York Mercantile Exchange, representing an increase of USD 0.78.

According to the University of Michigan’s final data, American consumers’ trust in the economy declined in August, while their expectations for inflation saw a slight increase. The consumer confidence index fell from 71.6 in July to 69.5. An earlier preliminary figure for August had suggested an index level of 71.2. The inflation expectation for the next 12 months reached 3.5%, up from 3.4% in July.

“Interest rates will increase as much as necessary to contain inflation,” stated Christine Lagarde, Chair of the European Central Bank (ECB), during a speech at the annual symposium hosted by the Kansas State central bank in Jackson Hole, USA, on Friday. “In the current climate, this means that the ECB should maintain an interest rate level that brings inflation back to the 2% target.”The 6M Euribor decreased with 2 basis points to 3.93% compared to previous business day. The 10Y Swap increased with 4 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.

The German economy decreased slightly in the second quarter of 2023,. According to final figures published by the German statistical office Destatis. On an annual basis, the German gross domestic product decreased by 0.2%, adjusted for calendar effects. This also corresponds to the preliminary results.

New orders for durable goods in the United States dropped more than expected in July 2023, mainly due to a decrease in vehicle orders. This was revealed by figures from the US government on Thursday. Orders decreased by 5.2% on a monthly basis. Economists anticipated a decrease of 4.1%. In June 2023, orders had increased by 4.4%. This figure was slightly revised downward from a previously reported increase of 4.7%.

The Turkish central bank has sharply increased the interest rate to reduce high inflation. This was announced by Turkey’s monetary policy body on Thursday afternoon. The interest rate was raised from 17.5% to 25.0%. In July, an additional 250 basis points were already added. On Thursday, the bank stated that with this new step, it aims to reduce inflation, as recent indicators suggest that the increase in underlying inflation pressure continues.

The 6M Euribor is unchanged at 3.95% compared to previous business day. The 10Y Swap increased with 1 basis point to 3.12% 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.