The German economy grew in the second quarter, according to final figures from Destatis, the German statistical office. On a quarterly basis, growth was 0.1%. Initially zero growth was reported. On an annual basis, the gross domestic product increased by 1.7%.
The euro was relatively stable at around 0.9950 on Wednesday, after macroeconomic data in the United States disappointed, which held the increase of the US dollar. Demand for the US dollar remained strong due to the need for safety in the currency market. The Euro was also down 0.1% at 0.8417 GBP.
Crude oil stocks in the United States fell last week. This was shown on Wednesday by figures from the energy agency EIA. In the week ending 19 August, crude oil stocks decreased by 3.3 million barrels to 421.7 million. Gasoline stocks decreased fractionally to 215.6 million barrels. Fuel oil and diesel stocks decreased by 0.7 million barrels to 111.6 million. The capacity utilisation rate of refineries was 93.8%. This was 93.5% a week earlier.
The 6M Euribor increased with 2 basis points to 0.93% compared to previous business day. The 10Y Swap increased with 8 basis points to 2.27% 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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