China’s GDP ended 2020 stronger than expected with a 6.5% yoy GDP growth. Yet, retail sales slowed down unexpectedly, even before the country faced the pandemic resurgence, which suggests the start of 2021 may be more difficult. The Chinese economy posted an average 2.3% GDP growth in 2020. US markets are closed for Martin Luther…
Most of the European power spot prices edged down yesterday, torn between higher nuclear availability, stronger hydro generation and weak renewable production. Only the German prices were slightly up at 72.89€/MWh (+2.31€/MWh) due to the low wind output expected today. Above-average temperatures dampened the French power consumption on Thursday which dropped by 2.24GW to 69.44GW…
European gas prices were mixed yesterday as the rally on Asian markets came to an end but with prices stabilizing at high levels. Indeed, JKM spot prices were almost stable yesterday: +0.08% day-on-day, at €91.284/MWh. By contrast, thanks to higher temperatures, baseload spot power prices on the Japan Electric Power Exchange were sharply down, falling…
Brent prompt future prices retreated further at 55.7 $/b as growing concerns about the Chinese health situation raised concerns about Chinese oil demand prospects. President Biden unveiled the 1.9 trillion stimulus package designed to limit the economic effects of the pandemic. The US Dept of Energy is planning to release strategic petroleum reserve stocks in April of…
The US equity markets edged down ahead of Mr. Biden’s speech and profit taking may continue, as there was nothing surprising with this plan that is moreover not certain to be voted as is. Bond yields are stable and the USD keeps on strengthening, the EUR/USD trading below 1.2150 now. US jobless claims figures brought…
