Pause

Yesterday was a day of transition or “breathing space” on the markets. There was little movement on rates, which even fell slightly in the US (1.86% for the 10-year), while the German 10-year stabilised at around 0%. The US equity market still fell again, with the Nasdaq giving up 1.15%, or more than 10% from its November high. But futures are up. The EUR/USD exchange rate is rising slightly, above 1.1350.

The economic calendar is light: US jobless claims should confirm their rebound and the Philadelphia Fed index may plunge further due to the Omicron wave and its negative effects on activity, but this should not last. The latest INSEE survey in France also confirms the scenario of a moderate slowdown in activity, mainly in services and retail trade.

EnergyScan economics news

Producer prices continued to accelerate in Germany at +24.2% yoy, but the ECB continues to expect a sharp decline in inflation this year as confirmed by its President this morning. The account of the last ECB meeting will be published today: we will be able to see if this view is widely shared or intensely debated. The Bank of China lowered its 1 year lending rate from 3.8% to 3.7% and the 5 year rate from 4.65% to 4.6%. This was expected.

Generally speaking, there are few market movers in the economic agenda before the Fed meeting next week, except for the PMIs on Monday.

Share this news :

You might also read :

ES-oil
April 27, 2021

OPEC meeting rescheduled for today

ICE Brent prompt contract reached 66.1 $/b on early Tuesday, as the OPEC+ ministerial meeting was rescheduled for today while their technical meeting held on…
ES-power
January 21, 2022

EUAs posted 4.2% gain on strong auction result

The power spot prices rebounded yesterday in Germany, Belgium and the Netherlands amid forecasts of easing renewable generation, but slightly fade din France on expectations…
ES-gas
February 8, 2021

Colder weather pushed European prices up

European gas prices increased on Friday, supported mainly by the strong drop in temperatures. The rise in EUA and coal prices (which increased parity prices…
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]