Market Information Tuesday 29 August 2023

Consumer confidence in Germany has further declined for September. This was revealed on Tuesday by measurements from the research agency GfK. The confidence index reached -25.5, compared to -24.6 in August 2023. Initially, an index of -25.4 had been reported.

The oil price increased on Monday with 0.3% at a settlement at $80.10 for a barrel of West Texas Intermediate. Oil futures received a boost in Asian trading after the Chinese Ministry of Finance and the Chinese stock market regulator introduced measures to stimulate buying interest in stocks, including halving a tax on stock trading and limiting the selling by major shareholders in companies that haven’t paid out sufficient dividends.

The Netherlands has become less dependent on it’s biggest trading partner Germany. That is one of the reasons why the economy recovered faster from the COVID-19 crisis. Germany is still the largest trading partner of the Netherlands, but the total share in exports decreased from 30% in 1980 to 23% in 2021, concluded the Netherlands Bureau for Economic Policy Analysis

The 6M Euribor increased with 1 basis point to 3.94% compared to previous business day. The 10Y Swap decreased with 1 basis point to 3.15% 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.