On Tuesday, the gold price fell below USD 1,700 per troy ounce. The decline is caused by reduced uncertainty and increased confidence of investors basesd upon US President Biden’s announcement that 90% of adult Americans are expected to be vaccinated by April. In addition, plans are being presented today to create jobs and support the economy.
The International Monetary Fund (IMF) announced that it will increase its forecast for worldwide economic growth in 2021 and 2022. This is based on the support by governments to limit the effects of the COVID-19 pandemic on the society and the economy. Despite of that, IMF states that financial conditions are expected to stay uncertain, as developments regarding COVID-19 differ significantly between regions.
Chinese export prices are being raised significantly by several manufacturers. The price increase is caused by increasing raw material costs and uncertainty in the supply chain, because of a worldwide shortage of sea containers.
The 6M Euribor is unchanged at -0.51% compared to previous business day. The 10Y Swap increased with 2 basis points to 0.07% 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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