Sharp drop in European prices
European gas prices dropped significantly yesterday, pressured by lower residential demand due to higher temperatures and higher Norwegian supply. Indeed, Norwegian flows recovered yesterday, averaging…
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At the same time, the rebound of the USD reflects both this nervousness, but also the possibility that the anticipated tightening of ECB policy will be lighter than expected.
Japanese GDP growth was revised from +0.3% to +0.5% q/q in Q2. The economic calendar is still light today. The euro is trading below USD 1.184.