Dutch manufacturing output decreased by 7.7% on average in June compared to the same month last year. This is according to figures from the Central Bureau of Statistics (CBS). In particular, the machinery industry experienced a notable decline in output, while the industry machinery repair and installation showed a significant increase.
The United Kingdom (UK) property market shows a significant decline in both buyer interest and sales volumes, following a notable increase in mortgage expenses. The Royal Institution of Chartered Surveyors reported a drop in its metric for agreed-upon sales, reaching a value of minus 44% in July compared to last year. The survey, which involved estate agents and property appraisers, shows this was the biggest decrease since the global financial crisis in 2009.
The price of crude oil is hovering close to its highest point in nearly nine months. West Texas Intermediate futures were around USD 84 per barrel, reflecting a 3.0% increase over the prior two days. The cause of the increase is the rising tensions between Kyiv and Moscow after a Ukrainian drone’s attack on a Russian-flagged oil tanker in the Black Sea.
The 6M Euribor decreased with 3 basis points to 3.92% compared to previous business day. The 10Y Swap increased with 2 basis points to 3.10% compared to previous business day.
Consumer prices in China fell in July. This was revealed on Wednesday by figures from the Chinese Bureau of Statistics. On an annual basis, prices decreased by 0.3%. This is the first time in more than two years that prices decreased.
The US trade deficit narrowed in June. This was revealed on Tuesday by figures from the US Department of Commerce. The deficit decreased from USD 68.3 billion in May to USD 65.5 billion in June. Exports decreased by 0.1% in June, imports decreased by 1.0% in the month.
The price for a barrel of crude oil closed higher on Tuesday. September futures for a barrel of West Texas Intermediate crude oil closed 1.2% higher on the New York Mercantile Exchange on Tuesday.
The 6M Euribor increased with 1 basis point to 3.95% compared to previous business day. The 10Y Swap decreased with 12 basis points to 3.08% 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.
China again exported less in July. This was revealed by Chinese government figures on Tuesday. In dollar terms, exports fell 14.5% year-on-year in July. Economists had expected a 12.0% drop. In June, exports also fell by 12.4%. Chinese imports fell 12.4% year-on-year in July, compared with a 5.0% decline forecast. China’s trade surplus was $80.6 billion in July versus an expectation of $70.3 billion.
German manufacturing output fell again in June. This was revealed on Monday by Destatis, the German statistical office. Production, adjusted for seasonal and working-day effects, was 1.5% lower in June than a month earlier. In May, output fell by a modest 0.1%. On a year-on-year basis, output fell 1.7% in June, following a pass in May.
Dutch inflation fell below 5% in July. This was revealed on Tuesday by Statistics Netherlands. Consumer prices rose 4.6% year-on-year in July. In June, this was still 5.7%. This drop in inflation was mainly due to energy price developments. Consumer prices rose 1.0% in July compared to June. The price level in the past 12 months was highest in October 2022.
The 6M Euribor is unchanged at 3.94% compared to previous business day. The 10Y Swap increased with 5 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.
The employment in the United States increased less than expected in July 2023, according to the official American jobs report released on Friday. Last month saw a job growth of 187,000, falling short of the market’s expectation of 200,000 new jobs. The unemployment rate for July 2023 was 3.5%, down from 3.6% in June 2023. Economists had anticipated a stable rate of 3.6%.
Retail sales in the eurozone declined slightly in June 2023, as indicated by data from the European statistical office Eurostat on Friday. On a monthly basis, retail sales decreased by 0.3%, following a 0.6% increase the previous month. Year-on-year, retail sales in the eurozone dropped by 1.4% in June 2023, compared to a 2.4% decline in May 2023.
German factory orders increased significantly in June 2023, according to figures from the statistical agency Destatis released on Friday. In June 2023, orders increased by 7.0% on a monthly basis, after a 6.2% increase in May 2023, both adjusted for seasonal influences. On a year-on-year basis, orders in June 2023 increased with 3.0%, rebounding from a 4.4% decline in May 2023.
The 6M Euribor is unchanged at 3.94% compared to previous business day. The 10Y Swap decreased with 4 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.
The Bank of England, as expected, raised the interest rate by 25 basis points to 5.25% on Thursday. Out of the nine members of the policy committee, six members voted for a 25 basis point increase, two members favoured a 50 basis point increase, and one member wanted to leave the interest rate unchanged.
Producer prices in the eurozone declined again in June. This was revealed on Thursday by Eurostat, the European statistical agency. On a monthly basis, producer prices decreased by 0.4%, following a decline of 1.9% in May.
According to a preliminary estimate, the U.S. service sector grew at a slower pace in July. Data from S&P Global, published on Thursday, revealed that the purchasing managers’ index (PMI) for the service sector declined from 54.4 in June to 52.3 last month.
The 6M Euribor decreased with 1 basis point to 3.94% compared to previous business day. The 10Y Swap increased with 7 basis points to 3.19% 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 employment in the private sector in the United States increased more than expected in July, according to figures from payroll processor ADP. The number of jobs increased by 324,000 in July, following a rise of 455,000 in June.
According to data from S&P Global, the Chinese service sector displayed a slightly stronger growth in July. The purchasing managers’ index (PMI) for the service sector increased from 53.9 in June to 54.1 in July. S&P Global described this growth rate as “solid.”
On Wednesday, data from the U.S. Energy Information Administration (EIA) revealed a significant decline in crude oil inventories in the United States last week. In the week ending on July 28, inventories dropped by 17.0 million barrels to 439.8 million barrels.
The 6M Euribor increased with 2 basis points to 3.95% compared to previous business day. The 10Y Swap decreased with 2 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.
Fitch Ratings downgraded the credit rating of the United States (U.S.) from AAA to AA+ last night. This decision was made due to the increasing debt burden of the U.S., as well as the strained relationship between Democrats and Republicans in Washington, according to Fitch. In 2011, during the Obama administration, Standard & Poor’s (S&P) preceded Fitch by downgrading one notch from the highest credit rating. Since then, S&P has not altered the rating of the U.S. further.
On Tuesday, it was revealed by the final figures from S&P Global that the American industry shrunk significantly less in July. The purchasing managers’ index increased from 46.3 in June to 49.0 last month. An index above 50 indicates growth, while below 50 indicates contraction.
According to figures released by the U.S. government on Tuesday, construction spending in the U.S. increased in June. During that month, expenditures increased by 0.5% compared to the previous month. On a yearly basis, construction spending showed a 3.5% increase in June.
The 6M Euribor decreased with 3 basis points to 3.93% compared to previous business day. The 10Y Swap increased with 7 basis points to 3.14% 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.
According to preliminary figures from Eurostat on Monday, it appears that inflation in the eurozone further decreased in July. Prices increased by 5.3% on an annual basis last month. In June, this figure was 5.5%, and in May, the increase was 6.1%. The core inflation in July stood at 5.5% on an annual basis, the same as the previous month.
The Dutch industry remained under pressure in July, despite an increase in the purchasing managers’ index. This was revealed by Nevi’s figures on Tuesday. The index increased from 43.8 in June to 45.3 in July, which according to Nevi still indicates a significant deterioration of business conditions in the Dutch industry.
On Monday, preliminary figures from Eurostat revealed that the economy in the eurozone grew slightly faster than expected in the second quarter. The gross domestic product (GDP) of the European economy increased by 0.3% compared to the previous quarter. Economists had anticipated a growth of 0.2% before the data was released.
The 6M Euribor decreased with 1 basis point to 3.96% compared to previous business day. The 10Y Swap decreased with 1 basis point to 3.07% 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.
According to the Central Bureau of Statistics (CBS), the preliminary Dutch year-on-year inflation rate is 4.6% in July. This indicates that prices are rising more slowly than in June, when inflation stood at 5.7%. The decrease is mainly caused by lower energy costs. Food prices rose 11.6% in July, down from 12.6% in June.
According to the U.S. Bureau of Labor Statistics, compensation for civilian employees increased 4.5% in June compared to a year ago. During the same period in the previous year, compensation increased by 5.1%, indicating a slight moderation in the rate of growth. Wages and salaries (a component of total compensation) increased 4.6% from a year ago.
The price of a barrel of crude oil reached its highest point in three months on Friday. On a weekly basis, oil prices increased 4.6%. The price is increasing because the fear of an economic recession has decreased. Additionally, Saudi Arabia’s decreased production in July and August by 1 million barrels per day (about 1% of total global production).
The 6M Euribor increased with 2 basis points to 3.97% compared to previous business day. The 10Y Swap increased with 1 basis point to 3.08% 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 house prices remained almost unchanged in June 2023 compared to May 2023, but decreased as much as last month on an annual basis. This was reported by the Central Bureau of Statistics on Monday. The prices were 5.5% higher in June than a year earlier.
The business activity in the Japanese industry has further declined. This was revealed on Monday by preliminary figures from S&P Global and Jibun Bank. The Purchasing Managers’ Index (PMI) decreased from 49.8 in June to 49.4 in July. “Business activity in the Japanese private sector has risen for the seventh consecutive month,” said Usama Batthi of S&P Global Market Intelligence.
Retail sales in the United Kingdom increased more than expected in June. This was revealed on Friday by figures from the British Office for National Statistics. The volumes increased by 0.7% on a monthly basis, following a growth of 0.1% in May. Economists had anticipated a rise of 0.2% for June. On an annual basis, there was a volume decrease of 1.0% in June, contrary to analysts’ expectations of a 1.5% increase.
The 6M Euribor increased with 1 basis point to 3.95% compared to previous business day. The 10Y Swap decreased with 2 basis points to 3.08% 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.
