Following an announcement by the central bank of Singapore, the currencies of several Asian countries are under pressure. Yesterday, the central bank of Singapore announced that it would move to a policy of zero percent appreciation in the exchange rate, causing the local dollar to slide. Investors fear that more Asian countries will follow a similar policy in the future. Yesterday, the Singapore dollar, the Indonesian rupiah and the Malaysian ringgit all lost value against the dollar.
In the first quarter of 2016, the growth of the Chinese economy was 6.7%. This is the lowest growth since the beginning of 2009. This morning, the Chinese Bureau of Statistics came with figures demonstrating this.
Upcoming Sunday, the oil ministers of the major oil-producing countries meet in Doha to discuss a possible stabilization of the oil production. Due to the worldwide increasing demand for oil, a stabilization of the oil production could lead to higher prices. In the run-up to the meeting, the price of oil has risen to $ 44.00 a barrel.
The 6M Euribor remained unchanged at -0.14%. The 10Y Swap increased with 4 basispoints to 0.56%.
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