Market Information Wednesday 6 July 2022

The euro lost 1.5% in value Tuesday, to USD 1.026. The currency has not been this weak since December 2002. Analysts expect that it will not be long before parity is reached and a euro is worth as much as a US dollar.

European gas prices rose Tuesday to the highest price in four months after workers in Norway’s offshore industry went on strike. Gas exports could fall by nearly 60% by Saturday due to the strike. The strike comes at a time when international gas prices are constantly rising and European countries are trying to become less dependent on Russian gas.

More than 5 million barrels of oil that were part of a historic U.S. emergency oil reserves release aimed at lowering domestic fuel prices were exported to Europe and Asia last month, even as U.S. gasoline and diesel prices touched record highs. The export of crude and fuel is reducing the impact of the moves by U.S. President Joe Biden designed to lower record pump prices.

The 6M Euribor is unchanged at 0.24% compared to previous business day. The 10Y Swap decreased with 13 basis points to 2.07% 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.