Renewed optimism

ising equities, slightly easing bond yields, falling USD: optimism prevails despite the sharp slowdown in the Chinese economy highlighted yesterday by the Q3 national accounts. Concerns about rising inflation pushed the US 10-year yield up to 1.62%, but it then eased back to 1.57%. The EUR/USD exchange rate returned to its highest level since late September, around 1.1650.

US industrial production contracted by 1.3% m/m in September, mainly due to a sharp decline in the automotive sector (-7.2%), as in most countries.

Energyscan economics news

According to the Chinese Ministry of Industry, the shortage of semiconductors should ease, but it should also limit domestic car production. The effects of Covid, on the other hand, seem to be dissipating well in the US, as evidenced by the sharp rise in the NAHB housing market index, while loan rates are rising.

The economic calendar is light today. Construction data is expected to fall in the US. But the markets should continue to focus on corporate earnings and central bankers’ statements, especially in the UK where a rate hike is expected as early as next month.

Share this news :

You might also read :

ES-gas
August 30, 2021

Strong price increase

European gas prices increased strongly last Friday, supported by ongoing tight fundamentals (strong injection demand due to relatively weak stock levels while supply remains constrained)…
ES-gas
April 26, 2021

Sharp drop in European prices

European gas prices fell sharply on Friday, pressured by the upward revision of temperatures and technical selling. The drop in Asia JKM prices and parity…
ES-economy
April 8, 2021

No nasty surprise with the Fed minutes

The release of the Fed minutes did not have any significant impact on markets, as the overall message remained strongly dovish, in line with consensus…
Join EnergyScan

Get more analysis and data with our Premium subscription

Ask for a free trial here

Don’t have an account yet? 

[booked-calendar]