Market Information Monday 28 February 2022

Investors can get ready for another busy macroeconomic week with the war situation in Ukraine likely to be the main focus. The agenda opens Monday with the industrial production figure from Japan. On Tuesday we get a series of industrial purchasing managers indices from China, Europe, United States and Japan. The Australian central bank will decide on interest rate rate policy on Tuesday. On Wednesday, the US Fed will publish the Beige Book with their perspective on the current economy. OPEC+ will meet on Wednesday, the results of these discussions could set oil prices even more in motion. Russia is part of OPEC+. The minutes of the last monetary meeting of the ECB will be presented on Thursday. Friday closes the week with the German trade balance.

European stocks open deep in the red on Monday as the crisis in Ukraine continues, the West ramps up sanctions and Russia tightens its nuclear weapons arsenal. Analysts find it remarkable that the energy sector has not yet been hit hard. In France, inflation continued to rise, while consumer confidence in the eurozone weakened further in February. The Ukraine crisis may force central banks in the US and Europe to postpone their monetary cover-up to focus on supporting growth and the smooth functioning of capital markets rather than fighting rising inflation.

Selling prices of the Dutch industry rose faster in January. This was revealed on Monday from figures from Statistics Netherlands. Prices have increased by an average of 20.9 percent year-on-year last month. A month earlier, industrial products were 19.6 percent more expensive than a year earlier. The output price movements are strongly related to the price development of crude oil. In January, a barrel of crude North Sea Brent cost about 75.5 euros, more than 66 percent higher than a year earlier.

The 6M Euribor is unchanged at -0.48% compared to previous business day. The 10Y Swap increased with 7 basis points to 0.88% compared to previous business day.