Sharp drop in European prices
European gas prices dropped significantly yesterday, pressured by lower residential demand due to higher temperatures and higher Norwegian supply. Indeed, Norwegian flows recovered yesterday, averaging…
The yearly growth rate in home prices is close to a 15-year high in the US and consumer confidence is showing signs of weakening. US bond yields have continued to fall and the USD to weaken: the EUR/USD exchange rate climbed above 1.2250 and the highest level of the year so far (1.2349) may be the next target. Sharp improvement in French business confidence in May.
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