Market Information Monday 25 April 2022

Today the week starts with German and Belgian business confidence figures. The United States consumer confidence from the Conference Board will follow on Tuesday, Russian economic growth is scheduled for Wednesday and we will look at the US and Belgian growth figures on Thursday. Finally, also the US consumer confidence figure of the University of Michigan is published.

The euro is likely to remain under pressure against the dollar in the near term, as the European Central Bank so far has not raised interest rates. The slow response of the ECB could lead to a further decline in the euro against the dollar in the near term. According to currency analysts, the next support level for the euro is around $1.06.

U.S. oil refiners expect strong first-quarter earnings as margins to sell gasoline and diesel strengthened due to a steep drop off in refining capacity and crude oil supplies tightened because of the war in Ukraine. Refining capacity worldwide has decreased during the coronavirus pandemic, with various less profitable oil refineries closing in the last two years. However, worldwide fuel demand has rebounded to near pre-pandemic levels, boosting profits for the facilities which are still operating.

The 6M Euribor increased with 2 basis points to -0.31% compared to previous business day. The 10Y Swap increased with 2 basis points to 1.67% 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.