Market Information Thursday 3 February 2022

Consumer prices in the eurozone increased more strongly in January than was forecast. This is reported by the European statistics office Eurostat . The inflation rate in the eurozone was 5.1% in January. In December this was 5.0% and in November 4.9%. Economists had forecasted an inflation rate for January of 4.3%. The core inflation, an important measure for the ECB, was 2.3% year-on-year in January. Excluding volatile prices for food, energy and alcohol, inflation was 2.6% in December. In the Netherlands, annual inflation was 7.6% and the monthly inflation 0.4%.

Private sector employment in the United States unexpectedly contracted in January. This is reported by the American payroll processor ADP based on new figures. The number of jobs decreased in January by 301,000 jobs. Economists had expected a growth of 200,000 jobs. It is the first decline since December 2020. In December 2021, the number of jobs grew by 776,000. Initially, ADP reported a growth of 807,000 jobs in December.

The stocks of crude oil in the United States decreased last week. This was reported by the American energy agency EIA on Wednesday. In the week ending 28 January, crude oil inventories decreased by 1.0 million barrels to 415.1 million. In contrast, gasoline stocks increased by 2.1 million barrels to 250.0 million barrels. Fuel oil and diesel stocks decreased by 2.4 million barrels to 122.7 million. The refineries’ capacity utilisation rate was 86.7%. A week earlier, this was 87.7%.

The 6M Euribor increased with 1 basis point to -0.50% compared to previous business day. The 10Y Swap increased with 2 basis points to 0.50% 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.