Today, Tuesday, the Eurozone’s consumer confidence figures from July and the sales figures for old homes in the United States from June are expected.
Consumer confidence is expected to continue its recovery. The consensus expects -13.2 index points in July.
“The long-term average of the index is around -10.5. The bottom was reached in the fall of 2022, when inflation in the euro area jumped to around 10 percent and the ECB had started raising interest rates a couple of months earlier. This has been revived fairly steadily, and at the beginning of the current year, confidence has been stronger every month than the previous month”, Nordic it is told in the morning review.
Interest rates on government bonds were on a downward trend on Tuesday.
At the time of the review, interest rates on the US ten-year government bond were down 1.8 percentage points at 4.235 percent. Two-year government bond interest rates were down 0.4 interest points at 4.513 percent.
In Germany, the interest rate on a ten-year loan was 3.8 percentage points lower at 2.453 percent, and the interest rate on a two-year loan was unchanged at 2.728 percent.
In the foreign exchange market, the Japanese yen strengthened. The Bank of Japan will meet next week and decide on the key interest rate. So far, expectations have been pretty evenly split.
At 2:45 p.m., the euro was worth 1.09 dollars, 169.61 yen, 0.84 pounds or 11.66 Swedish kronor. You got 156.07 yen for the dollar and 1.29 dollars for the pound.
Source: www.arvopaperi.fi