The release of the Fed minutes did not have any significant impact on markets, as the overall message remained strongly dovish, in line with consensus expectations. Equities and bonds remained rather stable as well as the USD, although the EUR/USD exchange rate briefly topped 1.19 yesterday. The sharp widening in the US trade deficit confirms…
The low temperatures continued to support the power spot prices in north western Europe yesterday which rose further up. Prices reached 59.55€/MWh on average in Germany, France, Belgium and the Netherlands, +13.42€/MWh day-on-day, with the French price climbing to 75.26€/MWh amid expectations of weaker nuclear availability today. The EUA prices surged to a new record…
ICE Brent futures contracts remained broadly stable, at 63 $/b, after regaining from Monday’s price slump. The talks to revive the Iranian nuclear deal were constructive according to attendants. The sanctions liftoff could bring extra supply to a market struggling to clear at the prompt. in the short term, crude prices were supported by a…
European gas prices increased significantly yesterday, supported by the sharp drop in temperatures. The rise in parity prices with coal for power generation (due to the strong rise in EUA prices) provided additional upward pressure. On the pipeline supply side, Norwegian flows were slightly down yesterday, averaging 346 mm cm/day, compared to 348 mm cm/day…
US equities edged down after their strong rally, but European equities kept on increasing, even erasing all their pandemic losses. Risk appetite was supported by further fall in bond yields, the US 10y even trading 10bp below its peak of last week, which looks a bit strange given the economic news flow in the US.…
