Strong economic indicators pushed US bond yields and the USD higher yesterday. The US job report released today could reinforce these trends if it shows a sharp rebound in job creation in May or revises April data upwards, as it is likely. The EUR/USD exchange rate plunged by nearly 1 USD, just above 1.21. Share…
Except in Germany where prices posted slightly stronger losses on forecasts of higher wind output, the European power day-ahead prices remained mostly unchanged yesterday. Less coupled than the previous days, the prices reached 66.57€/MWh on average in Germany, France, Belgium and the Netherlands, -0.31€/MWh day-on-day with the German prices eroding 4.72€/MWh from the previous day.…
Brent prices reached a new two-year high level overnight near $72/b, while WTI prices touched $69.4/b. The market remains in a bullish mood after the OPEC+ group left its plans unchanged for the coming months, despite the rise in prices. The market is also adjusting its expectations regarding the comeback of the Iranian oil, as…
European gas prices dropped yesterday, taking a breather after the previous sessions’ strong increases. The drop in Asia JKM prices and in parity prices with coal for power generation (both EUA and coal prices were down) provided additional downward pressure. On the pipeline supply side, Norwegian flows dropped slightly yesterday, averaging 282 mm cm/day, compared…
The market seems on hold, but remains confident overall: limited gains in equities and bond yields slightly down. The USD is rather stable too: the EUR/USD exchange rate was a bit weaker yesterday, but is trading near 1.22 again this morning. The Fed’s Beige Book was not particularly reassuring about inflationary tensions, but did not…
