Market Information Tuesday 11 August 2020

The economic recovery in the euro area was weaker in July than in previous months. This is reported by the Organisation for Economic Cooperation and Development (OECD) on the basis of the index of leading indicators for the month of July. The euro area indicator for July was 97.3, compared to 96.7 a month earlier and 93.7 in May. The long-term average is 100. At its low point in April, it stood at 91.6. The OECD stresses that there is still uncertainty about the impact of possible measures to reduce virus risks. According to the organisation, the data should therefore be interpreted “with care”.

The Turkish lira is decreasing significantly in the midst of financial turmoil in Turkey. Last week the central bank of the country promised new measures to support the value of the currency, but chose to leave the interest rate untouched. The situation already caused the lira to depreciate considerably last week. On Monday, the lira fell another 1.7% against the dollar.

The number of applications for unemployment benefits in Great Britain is rising again, after a limited decline in June. According to the British statistics office, more than 94,000 applications for unemployment benefits were received last month. The total number of applications now amounts to about 2.7 million. According to the statistical office, the British unemployment rate in June was 3.8%, from 4.1% in May. In the second quarter as a whole, unemployment totalled 3.9%.

The 6M Euribor is unchanged at -0.42% compared to previous business day. The 10Y Swap decreased with 3 basis points to -0.25% 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.