EnergyScan

Market anticipates ECB monetary tightening

Over the last two days, the German 10 year bond yield has increased by 7bp while the US 10 year is only up 3bp and turned down yesterday. This is the main reason why the EUR/USD exchange rate has risen from 1.18 to 1.1850.

EnergyScan - Economic news

ECB hawks have been calling for an immediate reduction in ECB asset purchases, especially after the release of August’s 10-year high inflation figures. They may well win their case at next week’s meeting.

In the US, the spread of the delta variant seems to be starting to ease and the purchasing managers’ indices (PMI and ISM) reassured us about growth yesterday, but they concerned industry, which we know is not very affected anyway. On the other hand, ADP’s estimate of private sector job creation in August came in well below expectations for the third consecutive month at 374k. Does this mean that the pandemic has hit services hiring hard again? The answer will come tomorrow with the employment report and today with the weekly jobless claims figures which have resumed their downward trend in August.

Share this news :
Share on twitter
Share on linkedin
Share on email

You might also read :

ES-gas
March 2, 2021

European gas prices rebounded

European gas prices increased yesterday, more sensitive to falling temperatures (which are now expected to briefly drop below normal during the weekend) to the rise…
ES-oil
October 6, 2021

Loose physical crude markets

Crude prices rallied yesterday, with front-month ICE Brent futures reaching 83 $/b, as natural gas prices soared in Europe and Asia, putting pressure on diesel…
Join EnergyScan

Get more analysis and data with our Premium subscription

Ask for a free trial here

Subscribe to our newsletter

Don’t have an account yet?  Sign up here!

[booked-calendar]