EUAs retreated after a bullish opening
As expected, the European power spot prices continued to rise yesterday, lifted by forecasts of weaker wind output and French nuclear availability. Prices reached 53.30€/MWh…
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The dollar remained range-bound yesterday, as bond prices remained stable. Equities globally resumed their slow growth, lifted by tech stocks and the banking sector. The VIX rapidly plunged back to 16.2 points, as markets are pricing low at-the-money volatility for US indices. China’s June trade data showed a significant monthly expansion. exports in dollar terms grew by 32% y/y while imports grew by 36% y/y (accounting for the base effect of the yearly growth). German and French inflations in June were recorded at respectively 2.3% and 1.5%, slightly below consensus. Both peaked in May, a potential clue for the US inflation data, due at 2:30 pm, European time.