Weaker Asian prices continued to exert downward pressure
European gas prices dropped strongly yesterday, pressured by weaker Asia JKM prices (-20.88% on the spot, to €66.335/MWh), which implies LNG supply to Europe will…
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At the same time, the rebound of the USD reflects both this nervousness, but also the possibility that the anticipated tightening of ECB policy will be lighter than expected.
Japanese GDP growth was revised from +0.3% to +0.5% q/q in Q2. The economic calendar is still light today. The euro is trading below USD 1.184.