Market Information Friday 15 October 2021

In its monthly energy monitor ABN AMRO has expressed its expectation that gas prices will not normalize until 2023. ABN AMRO expects the price of gas to reach EUR 50 per MWh by the end of 2021, where it had previously anticipated a price of EUR 30 per MWh. For the end of 2022, ABN AMRO predicts a price of EUR 30 and only in late 2023 the price will drop to a normal level of EUR 22 per MWh. Yesterday the market closed at a price of EUR 101.2 per MWh.

For the first time since March 2020, the number of new applications for unemployment benefits in the United States has dropped below 300,000. Between October 2 and 9, 293,000 new applications were filed, down 36,000 from a week earlier. The four-week moving average fell to 334,250, also the lowest point since March 2020.

Turkish President Erdogan has fired three bankers at the Turkish Central Bank. The round of dismissals includes the only banker who had voted against lowering the policy rate last month. Markets reacted badly to the decision then, and once again the Turkish Lira fell in value. The exchange rate even reached its lowest point ever, 1 Turkish Lira for 0.11 Dollar.

The 6M Euribor is unchanged at -0.52% compared to previous business day. The 10Y Swap decreased with 6 basis points to 0.20% 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.