The German economy contracted slightly in the fourth quarter. This was revealed by figures from Destatis, the German statistical office. On a quarterly basis, the contraction was 0.2 percent. On an annual basis, however, German gross domestic product grew by 1.1 percent.
Eurozone consumer confidence improved in January, as expected, but remained strongly negative. This was revealed by final figures from the European Commission. The confidence index improved from -22.1 in December to -20.9 this month.
China’s economy was in much better shape again in January. This was revealed this morning by Chinese government figures. According to the official figures, the purchasing managers’ index for Chinese industry rose from 47.0 in December to 50.1 in January. An even higher index of 50.4 had been anticipated by analysts.
The 6M Euribor increased with 2 basis points to 2.94% compared to previous business day. The 10Y Swap increased with 7 basis points to 2.90% 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.
Selling prices in the Dutch manufacturing industry were again considerably higher in December than in the same period last year, however the increase was smaller than in the previous month for the sixth month in a row. This appeared on Monday from figures from Statistics Netherlands (CBS). Selling prices rose by 14.2 percent on an annual basis in December. In November this was still 17.2 percent and in October almost 21 percent.
Confidence among Dutch entrepreneurs in the industry improved in January. This appeared on Monday from figures from Statistics Netherlands (CBS). Confidence went from 3.3 in December to 3.6 in January. In November this was still 3.0.
Capital markets are looking forward to this week’s ECB and Fed interest rate decisions with explanations. In the US, an interest rate hike of 25 or 50 basis points is taken into account.
The 6M Euribor decreased with 1 basis point to 2.92% compared to previous business day. The 10Y Swap increased with 3 basis points to 2.83% 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.
Turkey’s central bank said on Thursday it would provide support to companies that bring in foreign currency, including exporters and tourism firms. Firms can benefit from a 2% discount as conversion support when converting foreign currency if they pledge not to buy foreign currency for a period determined by the bank and deposit the remaining amount to conversion accounts as part of a scheme to protect lira deposits against forex depreciation, according to the central bank. Analysts have voiced concern that the practice could create a separate FX conversion rate to the trading rate in the free market.
The Pakistani rupee fell 9.6% against the dollar on Thursday, central bank data showed. Pakistan is facing an acute balance of payments crisis and is desperate to secure external financing, with less than three weeks’ worth of import cover in its foreign exchange reserves. The currency depreciation marks the biggest one-day drop in over two decades and may persuade the International Monetary Fund to resume lending to the country. The drop comes a day after foreign exchange companies removed a cap on the exchange rate, a key demand of the IMF as part of a programme of economic reforms it has agreed on.
The US economy grew by 2.9% in the fourth quarter, the US government’s first estimate showed on Thursday afternoon. 2.8% gross domestic product (GDP) growth was expected, following the 3.2% growth in the third quarter and the slight contraction in the first two quarters of 2022. Since March, the Fed has raised its policy rate by more than 4 percentage points, repeatedly in 0.75 percentage point increments in an attempt to reduce inflation. The GDP data are the latest sign that the economy has proved more resilient than expected in the face of significantly higher borrowing costs.
The 6M Euribor increased with 1 basis point to 2.93% compared to previous business day. The 10Y Swap increased with 3 basis points to 2.80% 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.
A barrel of West Texas Intermediate oil was trading at around $80 on Wednesday, after falling 1.8% on Tuesday. That was the result of mixed corporate results and less activity in view of the US economy. Chinese oil demand is still expected to increase now that all covid measures have been scrapped.
The German business climate continued to improve in January. This was revealed on Wednesday by figures from the Ifo research institute. The Ifo index for German business climate for industry and trade rose from 88.6 to 90.2. A figure of 90.1 had been expected beforehand. The sub-index for current conditions stood at 94.1 in January and that for expectations at 88.4.
British income inequality rose to a three-year high in the 2021/22 financial year after a dip during the coronavirus pandemic but remains below peaks seen in the run-up to the 2008 financial crisis, official figures showed on Wednesday. Median incomes for the poorest fifth of households dropped by 3.8% after inflation in the 12 months to the end of March 2022 to 14,500 pounds while those for the richest fifth rose by 1.6% to 66,000 pounds, the Office for National Statistics said.
The 6M Euribor is unchanged at 2.92% compared to previous business day. The 10Y Swap is unchanged at 2.77% 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.
Economic activity in both the US service and manufacturing sectors contracted less sharply in January, according to preliminary figures from S&P Global. The service sector purchasing managers’ index rose from 44.7 to 46.6, reaching its highest level in three months. The purchasing managers’ index for manufacturing increased from 46.2 to 46.8. This brought the composite purchasing managers’ index to 46.6 in January from 45.0 in December.
Oil prices fell Tuesday after traders factored the latest U.S. economic data into their assessment of the supply-demand balance. The price for a barrel of West Texas Intermediate crude oil closed 1.8% lower at 80.13 US dollars a barrel on the New York Mercantile Exchange.
The Netherlands raised nearly 2.0 billion euros Tuesday with the reopening of a long-term loan, which was also targeted as an upper limit. This was announced by the Finance Ministry’s Agency Tuesday afternoon. The loan matures on January 15, 2054, and was issued on September 27 last year. Nearly 6.95 billion euros is now outstanding under this loan.
The 6M Euribor increased with 2 basis points to 2.92% compared to previous business day. The 10Y Swap decreased with 2 basis points to 2.77% 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 consumer confidence continued to improve in January. Preliminary figures from the European Commission showed that the index, which reflects confidence, improved to -20.9 this month from -22.3 in December.
Oil prices fell back on Monday compared to earlier in the day. At a settlement of $81.62, a barrel of West Texas Intermediate ended up 2 cents lower. According to CMC Markets market, the resumption of travel in China has fueled expectations of higher demand as the economy rebounds from the Covid-19 lockdowns. Furthermore, CMC also pointed to restrictions on Russian energy.
Dutch pensions increased on average 7.18% as of 2023, after years with little or no increases. Higher capital, temporary rules and social pressure made pension fund managers opt for exceptionally high indexations at a time of high inflation.
The 6M Euribor increased with 4 basis points to 2.90% compared to previous business day. The 10Y Swap increased with 5 basis points to 2.79% 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.
Klaas Knot of De Nederlandsche Bank told on Sunday, in the TV program WNL op Zondag, that the European Central Bank will raise interest rates by 50 basis points at least twice. “There is a real chance that we can avoid a recession, both for the eurozone and the global economy.” There has also not been a quarterly contraction in the eurozone yet. In the Netherlands, there was a contraction, namely in the third quarter, but according to Knot that was more of a correction to the growth in the second quarter.
Existing owner-occupied homes became more expensive on an annual basis in December, however the increase is becoming smaller and there was a further decline on a monthly basis. This is evident from figures from Statistics Netherlands and the Register. Prices in the Netherlands rose by 2.7 percent on an annual basis in December. That is the lowest increase in more than 7 years. Compared to November, prices fell by 2.3 percent in December. That’s the biggest drop in 10 years.
Producer prices in Germany fell again slightly on a monthly basis in December. This appeared on Friday from figures from Destatis, the German statistical office. On a monthly basis, prices fell 0.4 percent in December. In November, the decrease was 3.9 percent and in October, 4.2 percent.
The 6M Euribor increased with 3 basis points to 2.86% compared to previous business day. The 10Y Swap increased with 9 basis points to 2.74% 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.
Japanese exports rose 11.5% year-on-year last month against 20.0% in November, but there was a marked slowdown in growth again in December. This was revealed by government figures on Thursday. Exports to the United States rose 16.9% and to Europe by 27.0%, but exports to China fell 6.2% in December. Japanese imports also rose in December, by 20.6%. The trade deficit decreased to 1,448 billion yen, versus an expected deficit of 1,653 billion yen.
Unemployment in the Netherlands decreased in December, figures from Statistics Netherlands showed on Thursday. The number of unemployed stood at 352,000 in December 2022, which is 3.5% of the labour force and 0.1 percentage point lower than in October. Over the past three months, the number of unemployed fell by an average of 10,000 per month.
The Norwegian central bank Norges Bank left interest rates unchanged at 2.75% on Thursday. High inflation and interest rates are weakening households’ purchasing power, and many companies expect a fall in business. A windfall is that energy prices are falling harder than anticipated, and global inflationary pressures appear to be easing somewhat, the central bank said. Still, Norges Bank thinks interest rates need to rise slightly to get inflation to the desired level, but that a more gradual approach to interest rates may be appropriate.
The 6M Euribor decreased with 5 basis points to 2.83% compared to previous business day. The 10Y Swap increased with 5 basis points to 2.65% 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.
Confidence among U.S. home builders improved unexpectedly in January. This was revealed by data from the National Association of Home Builders. The NAHB housing index rose, after 12 consecutive months of declines, to a reading of 35 in January. In December, the index was listed at 31. Economists consulted in advance were expecting a drop to 30.
Consumer prices in the euro zone rose less sharply again in December. This was revealed by final figures from Eurostat. Last month, prices rose 9.2 percent year-on-year, in line with a preliminary estimate. In November, the increase was still 10.1 percent. In October, inflation registered at 10.6 percent.
The yen fell 2.5 percent against the U.S. dollar on Wednesday after Japan’s central bank decided to keep interest rates unchanged. That is the biggest drop in a day since March 2020. The dollar is now worth 131.4 yen.
The 6M Euribor increased with 4 basis points to 2.88% compared to previous business day. The 10Y Swap decreased with 5 basis points to 2.60% 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 Japan left interest rates unchanged on Wednesday. This was reflected in the central bank’s interest rate decision this morning. Late last year, the bank decided to purchase long-term Japanese government bonds at a higher maximum yield by raising the rate from 0.25 percent to 0.50 percent. Today’s interest rate decision means the Bank of Japan will maintain short-term interest rates at minus 0.1 percent.
China’s economy grew in 2022, but less than a year earlier. The country’s official statistics showed this on Tuesday. China’s gross domestic product rose 3 percent, the National Bureau of Statistics reported Tuesday. In 2021, growth was still 8.1 percent. In 2020, China’s economy grew by only 2.2 percent. Apart from that year, 2022 was the worst year since 1976.
Consumer prices in Germany rose slightly less in December than in the month before. This was revealed on Tuesday by final figures from the German statistics office Destatis. On an annual basis, prices rose 8.6 percent in December, following a 10.0 percent increase in November and 10.4 percent in October, the highest in 2022.
The 6M Euribor decreased with 4 basis points to 2.84% compared to previous business day. The 10Y Swap decreased with 7 basis points to 2.65% 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.
Oil prices slipped on Monday but were holding near their highest this month as easing COVID restrictions in China raised hopes of a demand recovery in the world’s top crude importer. Brent crude fell 76 cents, or 0.89%, to $84.52 a barrel.
Gas prices have plummeted further on the Amsterdam wholesale market. On Monday afternoon, the price for a megawatt-hour of gas to be delivered in February was €55.91, almost 13% below last Friday’s closing level. This was the lowest price for gas since September 2021.
Canadian home sales rose 1.3% in December from November and were down 39.1% on an annual basis, data from the Canadian Real Estate Association showed on Monday. The industry group’s Home Price Index fell 1.6% on the month and was down 7.5% annually, while the national average selling price was down 12% on the year.
The 6M Euribor increased with 6 basis points to 2.88% compared to previous business day. The 10Y Swap is unchanged at 2.72% 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.
Last week inflation declined in the US, should the decline continue, lower inflation in the United States could translate into a weaker dollar for some time to come. The Fed’s first policy decision will take place on February 1, which will provide more clarity.
Oil prices rose further on Friday. At a closing price of $79.86, a barrel of West Texas Intermediate rose almost 2 percent. On a weekly basis, the oil price rose more than 8 percent.
Both exports and imports in the eurozone increased on an annual basis in November. This was revealed on Friday by figures from Eurostat, the European statistical office. In November, exports rose by 17.2 percent on an annual basis to 265 billion euros, while imports increased by 20.2 percent to 276 billion euros.
The 6M Euribor decreased with 4 basis points to 2.82% compared to previous business day. The 10Y Swap increased with 1 basis point to 2.72% 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.
In December, the number of bankruptcies rose for the fourth month in a row, although the figure for all of 2022 remains historically low. Last year, 2144 companies went bankrupt. Only in 2021 was the number of bankruptcies lower since the start of measurement, reports CBS.
US consumer prices fell in December for the first time in more than 2.5 years due to falling prices for petrol and motor vehicles, offering hope that inflation is now on a sustained downward trend, although the labour market remains tight. The consumer price index fell 0.1% last month, the first decline since May 2020, when the economy suffered from the first wave of COVID-19 cases. In November, the CPI rose 0.1%.
House prices fell for the second quarter in a row. This clearly continues the turnaround in the housing market. In the fourth quarter of 2022, houses became 3.7 per cent cheaper on average compared to the previous quarter, reports broker association NVM. And for the first time in nine years, house prices are now also down 6.4 per cent year-on-year.
The 6M Euribor increased with 4 basis points to 2.86% compared to previous business day. The 10Y Swap decreased with 7 basis points to 2.71% 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’s annual consumer inflation accelerated in December due to rising food prices, while domestic demand weakened due to subdued economic activity. Economists expect inflation to rise further in the first quarter of 2023. The consumer price index (CPI) was 1.8% higher in December than a year earlier, rising faster than the 1.6% annual increase in November, data from the National Bureau of Statistics (NBS) showed on Thursday.
Japanese households’ inflation expectations rose in the three months to December, a central bank survey found. This is a sign that continued increases in food and fuel costs are influencing public opinion about future price developments. The outcome, coupled with the prospect of higher wage growth, adds to growing recent signs that the world’s third-largest economy may be setting the conditions for the Bank of Japan (BOJ) to scale back its massive stimulus program.
US crude oil inventories rose sharply last week, as did refinery capacity utilization. This was revealed on Wednesday by figures from the US energy agency EIA. In the week ending 6 January, crude oil inventories rose by 19.0 million barrels to 439.6 million units.
The 6M Euribor increased with 1 basis point to 2.82% compared to previous business day. The 10Y Swap decreased with 13 basis points to 2.78% 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.
French industrial production increased more than expected in November 2022. This was revealed Tuesday by figures from the French statistics office Insee. Industrial production rose 2.0% month-over-month in November after a 2.5% decline in October. The manufacturing sector saw a 2.4% month-over-month increase in production in November after a 2.1% decline in October. On an annualized basis, industrial production fell 0.1% in November. In contrast, manufacturing production rose 2.8%.
The World Bank has lowered its forecast for the global economy this year as persistently high inflation increases the risk of a global recession. The bank expects growth to slow to 1.7 percent by 2023. In June, the forecast was still 3 percent. That would make it the third weakest year for the global economy in nearly three decades, overshadowed only by the recession in 2009, due to the financial crisis, and the recession in 2020 due to the coronavirus.
Wholesale inventories in the United States rose in November on a monthly basis in line with expectations. This was revealed Tuesday by figures from the US Department of Commerce. On a monthly basis, inventories increased by 1.0 percent. Economists had also forecast a 1.0 percent increase in advance. On an annual basis, wholesale inventories rose 20.9 percent in November. Wholesale sales fell 0.6 percent on a monthly basis, but rose 8.7 percent on a yearly basis.
The 6M Euribor is unchanged at 2.81% compared to previous business day. The 10Y Swap increased with 5 basis points to 2.91% 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 U.S. dollar is vulnerable and could fall further against the euro if the market becomes more convinced that the Federal Reserve will ease policy again, while the ECB continues to tighten. Low natural gas prices and China’s reopening support the euro, according to ING.
Dutch households spent more in November last year than a month earlier. This was revealed on Tuesday by figures from Statistics Netherlands. Households spent 2.7 percent more than in November 2021. In October, the year-on-year increase was 0.9 percent. As in previous months, Dutch households spent more on services but less on goods.
Forty percent of German companies expect sales to shrink in 2023. That is the conclusion of the Institut der deutschen Wirtschaft (IW), a Cologne-based think tank, based on its own research. High energy costs, supply chain problems and the ongoing war in Ukraine are cited as the main causes.
The 6M Euribor increased with 4 basis points to 2.81% compared to previous business day. The 10Y Swap increased with 1 basis point to 2.86% 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.
Inflation in the Netherlands fell in December, according to a flash estimate by Statistics Netherlands (CBS) on Friday. According to this estimate, which is calculated with incomplete source data, inflation in December was 9.6 percent, compared to 9.9 percent in November.
Consumer prices in the eurozone rose again at a slower pace in December. This was revealed on Friday by provisional figures from Eurostat. Prices rose by 9.2 percent on an annual basis last month, compared to 10.1 percent in November.
German manufacturing production increased slightly in November. This appeared on Monday from figures from Destatis, the German statistical office. Production, adjusted for seasonal influences and working days, was 0.2 percent higher in November than a month earlier, while production fell by 0.4 percent in October. Production was still down in November compared to last year.
The 6M Euribor increased with 1 basis point to 2.77% compared to previous business day. The 10Y Swap decreased with 9 basis points to 2.85% 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.
Spain is enjoying a record surge in tax revenue that is unmatched by its European peers. The country’s net tax revenues from January to November last year hit their highest level since records began, jumping 15.9% from the same period in 2021 and delivering an extra EUR 33bn to the treasury. The expanded tax haul is especially welcome for Spain given its substantial public debt.
The eurozone’s construction sector is suffering its worst decline since the pandemic brought the economy to a near-standstill in 2020, according to the on Thursday published S&P Global eurozone construction purchasing managers’ index. The index of December showed a total activity index of 42.6, down from 43.6 in November, figures below 50 indicate declining activity. The gloomy findings underline how rising borrowing costs, sharply higher raw material prices and worries that a recession could accelerate a fall in property prices are all weighing in on the European construction industry.
Oil prices closed higher on Thursday, after two days of sharp declines. February futures for a barrel of West Texas Intermediate crude oil closed 1.1% higher at USD 73.67 per barrel on Thursday. The price rise was partly attributed to a stronger-than-expected slowdown in US refinery activity in recent weeks, as extremely cold weather forced some sites in Texas to close. Despite Thursday’s recovery move, oil prices fell more than 8% this week, or nearly USD 7.
The 6M Euribor increased with 2 basis points to 2.76% compared to previous business day. The 10Y Swap increased with 5 basis points to 2.94% 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 Netherlands plans to raise up to 4 billion euros with the reopening of two short loans on Monday, January 9. The Finance Ministry’s Agency announced this on Wednesday. A loan maturing on March 30, under which 5.64 billion has been issued, will be reopened, as will a loan maturing on May 30, under which 1.82 billion euros are outstanding. Each of the two reopenings should generate 1 to 2 billion euros.
The number of job openings in the United States showed a very small decline in November. This was revealed Wednesday by figures from the US Department of Labor. In November, the number of job openings was 10.46 million, down from 10.51 million in October. A year ago, in November 2021, there were 10.92 million unfilled vacancies.
Japanese consumer confidence rose markedly in December. Japanese government figures showed this on Thursday. The confidence index rose to 30.3 in December from 28.6 in November. All sub-indices rose, with the one for employment showing the largest increase. It was precisely this sub-index that fell the hardest in November.
The 6M Euribor increased with 1 basis point to 2.74% compared to previous business day. The 10Y Swap decreased with 10 basis points to 2.89% 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.
Argentina’s economy ministry managed to extend the maturities of around 3 trillion pesos ($16.8 billion) in debt following a debt swap that saw a lot of interest from banking entities. The bonds, which would mature in the first quarter of 2023, were extended to different dates later this and next year, the ministry said in an internal report.
Oil prices edged lower in volatile trading on Tuesday as weak demand data from China, a gloomy economic outlook and a stronger U.S. dollar weighed. Brent crude futures fell $1.07, or 1.25%, to $84.84 a barrel by 1447 GMT. U.S. West Texas Intermediate crude was down $1.15, or 1.43%, at $79.11, having shed more than $2 earlier in the session.
Consumer prices in Germany rose slightly less than expected in December. This was revealed on Tuesday by preliminary figures from German statistics agency Destatis. On an annual basis, prices rose 8.6 per cent in December after rising 10.0 per cent in November and 10.4 per cent in October. Economists had forecast inflation of 8.8 per cent for the last month of 2022. In December, prices fell 0.8 per cent compared to November.
The 6M Euribor increased with 4 basis points to 2.73% compared to previous business day. The 10Y Swap decreased with 8 basis points to 2.99% 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.
Major U.S. banks expect an economic recession in 2023 for the United States, according to The Wall Street Journal. Of the economists at 23 major financial institutions that deal directly with the Federal Reserve, more than two-thirds predict that the U.S. will enter a recession in 2023. Two economists predict a recession in 2024.
At the start of the new year, the weak dollar remains the dominant topic for the currency market. Investors believe the Federal Reserve will delay interest rate hikes and eventually will cut interest rates again. This was stated by currency specialist Ulrich Leuchtmann of Commerzbank.
Eurozone manufacturing contracted less in December. This was revealed on Monday by final figures from S&P Global. The purchasing managers’ index for manufacturing rose to 47.8 in December from 47.1 in November, the highest reading in three months.
The 6M Euribor decreased with 4 basis points to 2.69% compared to previous business day. The 10Y Swap decreased with 13 basis points 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.
Croatia is the twentieth country to join the eurozone. From January 1, the kuna has been replaced by the euro as official currency. “Croatia has worked hard to become the 20th member of the eurozone, and it succeeded,” Christine Lagarde from the European Central Bank (ECB) said in a statement on Sunday. “It shows that the euro is an attractive currency that brings stability to its members.”
The Dutch industry contracted further in December. This showed from figures from S&P Global and NEVI on Monday. The purchasing managers’ index for the manufacturing industry was 46.0 in December, compared to 48.6 in November.
The Chinese economy was in even worse shape in December compared to November. This was evident from figures from the Chinese government last weekend. China’s manufacturing purchasing managers’ index fell from 48.0 in November to 47.0 in December, the lowest level since February 2020, according to official figures.
The 6M Euribor decreased with 2 basis points to 2.73% compared to previous business day. The 10Y Swap increased with 12 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.
2023 © Zanders. All Rights Reserved. KvK 30112147. Cookie Policy | Privacy Policy | Terms of Service | Vulnerability Disclosure
Managed by Sluijmer Multimedia and hosted by True.
