On Thursday the Dutch Central Planing Bureau (CPB) announced that in January the worldwide trade decreased with 0.4% compared to the previous month. In December worldwide trade increased with 1%. The Dutch central bank published positive news for the Eurozone, last quarter the economy grew again. It now has shown growth for 11 consecutive quarters.
The British research firm Markit revealed that the US service sector is growing, as is show by the increase of the purchasing managers’ index from 49.7 to 51%.
The US manufacturing sector is still week. The amount of orders for durable goods declined 2.8% last month, according to the American Commerce Department. Caused by the robust dollar and low oil prices. On top of that the American Labor Department shared the increasing number of initial claims for state unemployment benefits. Last week this statistic rose with 6,000 to 265,000 compared to the previous week.
The DNB president Klaas Knot presented the annual report of Dutch central bank. Which concluded that the monetary policy is sufficient but its options are exhausted. Mister Knot suggests that it is now up to politicians if further support of the economy is needed, for example a revision of the Dutch pension system. Besides that, Knot sees opportunity for a wage increases across the economy. Since the crisis salaries have been under pressure. Now that the economy is moving upwards, he finds it unnecessary to that the wages lag behind this development.
The European exchanges closed with a loss yesterday, for example London and Amsterdam closed on respectively 6,106.48 and 437.49. On the other hand America closed positive with 17,554,99 for the Dow Jones and 2,039.10 for the S&P 500.
Because of the switch to/from daylight savings time the Forex will open on Sunday at 23:05 and on Monday the exchanges are closed in Europe. They are open in the States, just like the forex and commodity markets.
The 6M Euribor remained unchanged at -0.13%. The 10Y Swap decreased with 1 basispoints at 0.56%.
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