Provisional figures published by the British research firm, Markit, showed that the Eurozone industry is growing faster in November 2015 than in October 2015. The index for the Eurozone increased this month from 52.3 to 52.8. A value above 50 indicates growth, a lower value indicates contraction. Economists predicted that the index would remain unchanged. The industrial activity in the US grew less rapidly in November compared to October. The indicator declined in the US from 54.1 to 52.6.
The European Stability Mechanism (ESM) has agreed to a payment of 2 billion EUR to Greece. Earlier, the ESM withheld Greece disbursements from the bailout program as it had not satisfied all conditions. According to the ESM, Greece has made progress to address the main problems in the economy. Including preparations for the recapitalization of several major banks.
The euro has fallen to 1.06 USD, its lowest point in seven months. This is partly a result of the expected rate hike in December 2015 by the Federal Reserve Bank (Fed). The expected measures by the European Central Bank (ECB) to further increase inflation in December, also contribute to a lower euro. Currency experts expect the euro to reach parity with the dollar when the rate hike in the US will be decided upon in December.
The 6M Euribor remained unchanged at -0.02%. The 10Y Swap decreased with 1 basispoint to 0.84%.
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