Market Information Wednesday 11 September 2024

European stock markets closed lower on Tuesday, as investors awaited the U.S. inflation data expected later this week and the ECB’s decision on Thursday. At the same time, oil prices took a hit due to bleak forecasts from OPEC. According to the oil cartel, global oil demand is expected to increase by 2.03 million barrels per day in 2024, followed by growth of 1.74 million barrels per day in 2025. These figures are lower than the estimates published last month.

Inflation in Germany dropped below 2% in August, with consumer prices rising less sharply year-on-year compared to the previous month. This was confirmed on Tuesday by the final figures from Germany’s statistical office, Destatis, in line with the earlier published preliminary estimate.

Following the actions of the Federal Reserve this summer, the European Central Bank (ECB) is expected to cut interest rates by 25 basis points this Thursday. This prediction is shared by several experts and is already priced into the market. 

The 6M Euribor decreased with 4 basis points to 3.31% compared to previous business day. The 10Y Swap decreased with 2 basis points to 2.40% 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.