The continued rise in bond yields (1.37% for the US 10-year) reflects market nervousness ahead of tomorrow’s ECB meeting and the release of the Fed’s Beige Book this evening.
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.
The power spot prices remained steady at 88.30€/MWh on average in Germany, France, Belgium and the Netherlands (+0.60€/MWh day-on-day) amid expectations of mostly unchanged fundamentals…
There has been very little change in oil prices since their sharp decline following the announcement of the use of US strategic reserves. The price of…
The power spot prices surge near 170€/t yesterday in northwestern Europe, with some baseload contracts reaching levels not seen since 2006/2007 as forecasts of dropping…
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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.