Equity markets were down on Friday after the release of indicators pointing to recession in Europe, concerns heightened by the announced delays in vaccine deliver. But the weakening in the USD shows that markets remain fundamentally optimistic about recovery prospects, as the White House is deploying efforts to get a quick vote of the $1.9tn…
Forecasts of colder temperatures and dropping wind output supported the European power spot prices yesterday which presented a hefty 10.37€/MWh gain from the day prior to climb to 49.25€/MWh on average in Germany, France, Belgium and the Netherlands. The French power consumption eased further to 67.17GW on Thursday, -2.36GW from the day prior. The country’s…
Prices were lower yesterday in most European gas markets, as above-normal temperatures and the easing of the tension in Asian markets exerted downward pressure. Indeed, JKM spot prices weakened again yesterday, to €36.474/MWh, -12.26% day-on-day. On the Japan Electric Power Exchange, system spot power prices for delivery today eased to €231/MWh, down from €500/MWh for…
Brent futures prices continue to weaken at the prompt, as 1st nearby prices reached 55.5 $/b, about 1% lower compared to yesterday. The first coronavirus cases in Shanghai were detected, outside of the regions under lockdown. This cast doubt on the health situation in China, especially ahead of the Lunar New Year celebrations, usually preceded by…
The balance between optimism linked to vaccines and hopes of fiscal stimulus in the US and pessimism fueled by the immediate impact of the pandemic and very limited room for manoeuvre of central banks tilts towards the latter for the end of this week. There are rumors about an imminent lockdown in Hong Kong and…
