Statistics Netherlands (CBS) has reported that consumer confidence increased in July 2019 compared to the previous month. The index that measures confidence grew to a level of 2.0, compared to a level of 0.0 in June. According to CBS, consumers were more positive about the economic climate, while consumers’ willingness to buy also increased.
Oil prices have risen sharply last weekend after Iranian soldiers entered two oil tankers on Friday in the Strait of Hormuz. One of the ships, the Stena Impero, sailed under the British flag. The British government has announced that it will take countermeasures. In addition, President Trump has indicated to be willing to assist the British. The Strait of Hormuz is an important route for oil tankers to Saudi Arabia. As a result of the turmoil, the price for a barrel of Brent oil rose from USD 61.93 on Thursday end of day to USD 63.52 on Monday morning.
President Trump criticized the Federal Reserve again last weekend. He blames the Fed for keeping its interest rates unnecessarily high. On Friday, the President of the Bank of New York gave a speech, hinting at a Fed interest rate cut during its policy meeting at the end of this month. In the meantime, analysts indicate that they also expect an interest rate cut from the Federal Reserve next week.
The 6M Euribor increased with 1 basis point to -0.35% compared to previous business day. The 10Y Swap decreased with 2 basis points to 0.11% 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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