Markit published preliminary figures, which show that industrial activity in the eurozone decreased more in July 2019 than in the previous month. The purchasing managers’ index fell from 47.6 in June 2019 to 46.4 in July 2019. Economists expected an increase of the index to 47.7. The purchasing managers’ index also fell in the services sector compared to the previous month. Today the ECB meets for an interest rate decision. The lower figures may encourage the ECB to lower its interest rates early, instead of in September 2019.
US Finance Minister Steve Mnuchin will travel to China with a trade delegation next week to further negotiate a new trade agreement. Donald Trump and Xi Jingping already agreed at the end of June that they would resume negotiations. Trade negotiations between countries have already taken place by telephone. Thus far, this did not lead to significant results; Trump recently threatened with new import duties on Chinese goods.
The US Department of Commerce has announced that in June 2019, the number of new-build properties in the United States has increased. Sales increased by 7% on a monthly basis. Compared to May 2018, approximately 646,000 new-build properties were sold in the US.
The 6M Euribor is unchanged at -0.36% compared to previous business day. The 10Y Swap decreased with 3 basis points to 0.06% 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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