Market Information Friday 20 May 2022

Market Information Friday 20 May 2022

Consumer prices in Japan rose 2.5% on an annual basis in April. Although significantly lower than the inflation rate in European countries, this is the highest inflation rate in 13 years in Japan. In March, consumer prices were still up 1.2% year-on-year. The Japanese central bank, like many European central banks, is still aiming for inflation of 2.0%.

Last month, Statistics Netherlands (CBS) reported that the confidence of Dutch consumers has never been so low. This morning, Statistics Netherlands reported that confidence improved somewhat in May, but very slightly. Consumer confidence in May came to a reading of -47, compared to -48 in April, the lowest point since measurement began in 1986. The average over the past twenty years is -9.

Between May 7 and May 14, 218,000 initial jobless claims were filed in the United States. The number of new applications unexpectedly rose by 21,000 from a week earlier. Analysts had only taken into account an increase of 3,000. The four-week moving average, usually less volatile, came out at 199,500 applications. The number of applications still hovers around the lowest point in over 50 years, 187,000 applications.

The 6M Euribor increased with 4 basis points to -0.13% compared to previous business day. The 10Y Swap decreased with 5 basis points to 1.69% 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.

Market Information Thursday 19 May 2022

Market Information Thursday 19 May 2022

Crude oil inventories in the United States fell last week. This was revealed on Wednesday by figures from the US energy agency EIA. In the week ending May 13, crude oil inventories fell by 3.4 million barrels to 420.8 million. Here, an increase of 1.4 million barrels had been anticipated by economists. Gasoline stocks fell 4.8 million barrels to 220.2 million barrels. The expectation was a decrease of 1 million barrels. Fuel oil and diesel stocks rose 1.2 million barrels to 105.3 million. A stable level had been expected. Refinery capacity utilization was 91.8% compared to 90.0% a week earlier.

Registrations of new passenger cars in the Netherlands fell by 7.4% year-on-year in April, while in the European Union registrations fell by 20.6% in the same month. This was reported by the European automotive industry association ACEA on Wednesday. In the Netherlands, the number of registrations decreased last month to 22,087 cars. In March, sales were still up by 3.8% year-on-year. France still showed a substantial minus of 22.6% in April, more substantial than was reported for March. Germany, by far the largest car manufacturer of the EU, reported a 21.5% decline compared to a 17.5% decline in March.

Consumer prices in the eurozone rose at a steady pace in April compared to March. This was revealed on Wednesday by final figures from Eurostat. Inflation was 7.4% in April, the same as in March. In February the inflation rate was 5.9% and in January it was 5.1%. A preliminary estimate indicated an inflation of 7.5% for April. Core inflation, an important indicator for the ECB, was 3.5% on an annual basis in April, as expected. This was 3.0% in March. For March, a core inflation rate of 2.9% was reported earlier.

The 6M Euribor increased with 2 basis points to -0.17% compared to previous business day. The 10Y Swap decreased with 3 basis points to 1.74% 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.

Market Information Wednesday 18 May 2022

Market Information Wednesday 18 May 2022

The Japanese economy contracted in the first quarter of 2022. This was revealed this morning by preliminary figures from the Japanese government. The gross domestic product (GDP) shrank in the first quarter by 0.2% compared to the fourth quarter of 2021. The decline was smaller than economists had predicted. They took into account a contraction of 0.4%. On an annual basis, GDP fell by 1.0%.

The entrepreneurial confidence in the Netherlands increased in most sectors at the beginning of the second quarter 2022. The sentiment indicator stood at 16.8 and was positive for the fifth quarter in a row. In the first quarter of 2022, the indicator still stood at 6.4. Especially in the hospitality sector a strong increase was visible, after all corona measures in the Netherlands were lifted in February 2022.

Consumer prices in the UK rose further in April. This was revealed this morning by figures from the UK statistics office ONS. On a monthly basis, prices rose by 2.5% in April after a 1.1% plus in March. On an annual basis, consumer prices rose 9.0% in April. That was 7.0% a month earlier.

The 6M Euribor increased with 2 basis points to -0.19% compared to previous business day. The 10Y Swap increased with 8 basis points to 1.77% 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.

Market Information Tuesday 17 May 2022

Market Information Tuesday 17 May 2022

The European Commission announced at the Spring 2022 Economic Forecast press conference that it is lowering its growth forecast for this year. Earlier, a growth of the gross domestic product of 4.0% was expected, but this expectation was adjusted to 2.7%. On the other hand, the expectation for inflation was raised to 6.1%. The European Commission expects to see a peak in inflation in the second quarter of 2022, which will then slowly decline.

The tension on the Dutch labor market has further increased in the first quarter of 2022, according to the figures published by Statistics Netherlands. For every 100 job seekers there are 133 vacancies open, whereas at the end of 2021 there were 106. The increased tension on the job market is the result of the constant growth in the number of vacancies combined with declining unemployment. Most vacancies can be found in trade, business services and care which together account for about half of all vacancies.

Figures published today by the UK’s Office for National Statistics, ONS, show that UK unemployment continued to fall in the first quarter of 2022. Whereas the unemployment rate was 4.0% at the end of 2021, it fell to 3.7% in early 2022.

The 6M Euribor is unchanged at -0.21% compared to previous business day. The 10Y Swap decreased with 3 basis points to 1.69% 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.

Market Information Monday 16 May 2022

Market Information Monday 16 May 2022

This week there will be attention in the market for economic growth figures. On Tuesday GDP growth figures will be published for the Netherlands and the Eurozone and on Wednesday Japan will follow. Furthermore, on Wednesday inflation figures will be published from the United Kingdom. A day later, unemployment figures from the Netherlands will be published and the European Central Bank (ECB) will publish its minutes from the most recent meeting. Finally, on Friday, consumer confidence figures will follow in, among others, the Eurozone and Belgium.

Industrial production in China unexpectedly fell in April. This was revealed Monday morning by new government figures. Economists had predicted an increase in the production volume of 1.0%, but this figure actually fell by 2.9% on an annual basis. On a monthly basis, production fell by 7.1%.

The closing price of a barrel of West Texas Intermediate (WTI) was 4.0% higher at the end of the day Friday than at the beginning of the day. The price of a barrel of WTI now stands at USD 110.49. However, according to analysts, there are two opposing forces at play in the market at the moment. On the one hand, due to the lingering conflict in Ukraine, there are concerns about the supply of oil. On the other hand, there are concerns about demand due to globally high inflation and lockdowns in China.

The 6M Euribor is unchanged at -0.21% compared to previous business day. The 10Y Swap increased with 7 basis points to 1.72% 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.