EUAs gave back early gains on falling gas prices
The European power spot prices rebounded yesterday, driven up by forecasts of lower wind and solar generation and colder temperatures strengthening the power demand. The…
US GDP growth came out just below consensus expectations at +6.4% on a qoq annualized basis, which pushed bond yields a bit higher but also US equities to new record-high levels. The euro area figures will be released today and they should confirm the comeback in recession, despite the activity rebound in France. Chinese PMIs confirmed the activity slowdown, but remained solid. Available figures suggest inflation accelerated more than expected in the euro area in April. The EUR/USD exchange rate is stable above 1.21
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