The Chinese Yuan has decreased to its lowest level since 2015 valued against the US Dollar. The steps to oppose further depreciation apparently have not yet been successful. The allegations from the US against China, that China did not intervene to hold the deprecation of the Yuan, ensures that the depreciation of the Yuan is closely monitored.
Chinese exports in July have increased despite the increased US trade tariffs. According to customs, next to this increase, imports have decreased less than expected. In comparison to last year exports have increased with 3.3 percent and imports have decreased with 5.6 percent.
Saudi-Arabia has approached other oil producing countries to discuss measures to stop a further decrease of the oil price, as reported by Bloomberg. The decrease of the oil price since the beginning of this month is partly a result of the increased tension between the US and China.
The 6M Euribor decreased with 1 basis point to -0.38% compared to previous business day. The 10Y Swap decreased with 4 basis points to -0.14% 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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