The initial markets’ reaction to the Fed’s optimistic and dovish message at the same time was positive on Thursday but it looks like they thought twice about it yesterday. Bond yields surged higher, the US 10y reaching 1.75%. Oil prices plunged and US equity markets did the same eventually, followed by most Asian indices overnight.…
The Power spot prices rose further up in northwestern Europe yesterday, pushed by the forecasts of weaker wind production and colder temperatures. The prices in Germany, France, Belgium and the Netherlands finally climbed above the clean coal costs to reach 64.33€/MWh on average, +7.63€/MWh day-on-day. Despite the colder weather, the French power consumption slightly eased…
Prices rebounded yesterday in most European gas markets, supported by higher heating demand due to below-normal temperatures and lower pipeline supply. Indeed, due to maintenance works, Norwegian flows dropped again yesterday, to 310 mm cm/day on average, compared to 325 mm cm/day on Tuesday. Russian flows were almost stable, averaging 325 mm cm/day, compared to…
Crude prices continued to weaken on Wednesday despite the dollar edging lower, as the physical market’s weakness filtered through the futures’ market. Weak physical crude markets were combined with crashing diesel cracks, at the centre of refiners’ profitability. US petroleum stocks, reported by the EIA, showed a 3.6 mb build across crude and products. Sustained…
The Fed expressed more optimism about economic prospects, no worry about raising bond yields and saw no need to hike rates before 2024. The markets’ reaction was rather calm, but the USD plunged and the EUR/USD exchange rate rebounded unexpectedly from 1.19 to 1.1980. Share this news : Share on twitter Share on linkedin Share…
