The week starts with several purchasing managers’ indices for the industry. On Tuesday, Australia’s central bank will make an interest rate decision and Eurozone producer prices will be presented. On Wednesday, in addition to the purchasing managers’ indices for the services sector, inflation data from Turkey, the German trade balance, retail sales in the eurozone and from America, factory orders are scheduled. Thursday starts with Dutch inflation figures and German factory orders. In the afternoon, the Bank of England is scheduled, and the weekly support requests and a trade balance will come from the US. The week ends with a jobs report from the US.
US consumer confidence in the economy rose in July, after hitting a low in June. This was announced by the University of Michigan. The consumer confidence index improved to 51.5, versus 50.0 in June. The expected figure for July previously indicated a position of 51.1.
In the US young consumers and low-income consumers are beginning to feel the financial pressure. Generation Z consumers and those with low credit scores are starting to fall behind on credit card and auto loan bills and building up credit card debt at a pace not seen since before the pandemic. Credit card balances for people ages 25 and younger rose by 30% in the second quarter from a year earlier, compared with an increase of just 11% among the larger population. This was found during a random sampling of 12.5 million U.S. credit files compiled by credit score company VantageScore.
The 6M Euribor increased with 3 basis points to 0.66% compared to previous business day. The 10Y Swap decreased with 1 basis point to 1.65% 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.
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