According to the European statistics agency Eurostat, unemployment in the Eurozone increased further in May to 7.4 percent from 7.3 percent in April. Eurostat reports more than 12 million people unemployed in the euro area of 19 countries. Unemployment was measured at 6.7 percent for the entire European Union. That amounts to over 14 million unemployed.
The United States Department of Commerce announced that factory orders in the United States were up 8 percent in May compared to April. In the previous months, orders fell sharply due to the corona crisis. Economists expected an increase of 8.7 percent. Factory orders declined by a revised 13.5 percent in April. Orders declined sharply in March.
A majority of the German parliament supports the European Central Bank (ECB) bond purchase program that started five years ago. The stimulus policy threatened to stall because of a ruling by the German Constitutional Court, but the threat has passed due to political support. In addition to the coalition parties, the Greens and the liberal FDP are also satisfied with the ECB’s explanation of the bond purchase program.
The 6M Euribor increased with 1 basis point to -0.30% compared to previous business day. The 10Y Swap decreased with 2 basis points to -0.16% 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.
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