Market Information Friday 16 September 2022

Eurozone exports rose by double digits in July, however imports increased much more. This was revealed on Thursday by figures from Eurostat, the European statistical office. Year-on-year, exports rose 13.3% to EUR 235.5 billion in July. Imports even rose with 44.0% up to EUR 269.5 billion. As a result, a trade deficit of EUR 34.0 billion was reported. On the contrary, a year earlier there was a surplus of EUR 20.7 billion.

US import prices fell slightly less than expected in August, according to the figures of the US Department of Labour. Import prices fell 1.0% month-on-month, following a 1.5% drop in July. A 1.2% decline had been expected.

The price of a barrel of crude oil closed lower on Thursday, due to investor concerns about oil demand, as the Federal Reserve prepares for what is expected to be another aggressive interest rate hike next week. The market expects the Federal Reserve to raise the Fed Funds rate by at least 75 basis points, fueling fears of an economic downturn.

The 6M Euribor increased with 1 basis point to 1.55% compared to previous business day. The 10Y Swap increased with 2 basis points to 2.56% 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.