No big thing yesterday on financial markets but a gradual increase in bond yields that seems to reflect caution ahead of key economic reports in the US, to begin with CPI data today. The surge in Chinese exports and imports on a yoy basis in March reflects basis effects: we are entering a period during…
The power spot prices were mixed in north western Europe yesterday, the 5 to 6°C below normal temperatures supporting the prices in France and Belgium while the forecasts of stronger wind output slightly pressured the German and Netherlands prices. Decoupled, the day-ahead contracts ranged from 54.15€/MWh in the Netherlands to 83.62€/MWh in France and up…
As the Fed chairman said during the week-end, the US economy is ready for a very strong recovery, but the economic outlook remains dependent on the pandemic evolution. He may have added that the inflation risk is not negligible either, even though the Fed never stops telling markets this is only going to be a…
ICE Brent crude prompt contract remained under pressure, at 62.7 $/b, as gloomier economic prospects and low volatility dented financial flows in the market, with money managers exiting the market at a fast pace. Indian refined product sales declined by 0.1 mb/d in March when it is usually a strong month for Indian oil demand.…
The European power prices climbed above the clean coal costs for today, lifted by forecasts of below normal temperatures strengthening the power demand and limited wind and solar generation. Prices reached 65.33€/MWh on average in Germany, France, Belgium and the Netherlands, +3.80€/MWh from Friday. The EUAs traded rangebound on Friday with rather thin exchanged volumes,…
