This morning the GBP devaluated compared to the USD with 0.8%, due to the concerns about a possible Brexit. Yesterday, mayor of London Boris Johnson announced to campaign for Britain to leave the European Union. As a result, Boris Johnson is campaigning against David Cameron, both members of the Conservative Party.
Nigeria supports the plans of Russia and Saudi-Arabia to freeze the level of oil production on the current level. Nigeria is the biggest oil producer of Africa. Saudi-Arabia, Qatar, Venezuela and Russia already entered an agreement last week to freeze the oil production on the level of January, under the condition that other countries would do the same. These actions should lead to some degree of price recovery. The oil price reacted positively to the news with a rise of 1.96% to USD 33.81 for a barrel of Brent oil.
The European chamber of Commerce published a report stating that a trade conflict will occur if Peking does not manage the oversupply of Chinese products. Due to lower internal consumption, Chinese companies are exporting goods for constantly decreasing prices. For 47 months in a row Chinese producer prices decreased, last month with 5.3%.
The 6M Euribor remained unchanged at -0.12%. The 10Y Swap remained unchanged at 0.57%.
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