EUR/USD has fallen below 0.9900 for the first time since October 2002. ING economists expect the world’s most popular currency pair to extend your decline towards the 0.9600/0.9650 zone. The 75 basis point hike is too big a jump for the ECB “Gas news has sent EUR/USD to a new yearly low and it is […]
Tag: Gas
French Minister of Energy: We have prepared for the Russian gas cut
The French Energy Minister Agnès Pannier-Runacherdeclared on Wednesday that Russia is using the gas as a weapon of war “just as we had planned.” Featured Statements Russia is further reducing French supplies based on that assumption. France has been ready and prepared for such a scenario. The country is already reducing its exposure to Russian […]
EUR/USD should remain in a range of 0.9900-1.0100 this week – ING
EUR/USD has found some support near 0.9920 but remains vulnerable. As reported by economists at ING, the pair will trade within a range of 0.99-1.01 this week. Pay attention this week to natural gas prices “Markets are now pricing in a 63 basis point ECB rate hike on September 8 – we expect 50 basis […]
Europe Approaches Gas Storage Target Despite Reduced Russian Supply – Bloomberg
The market’s cautious optimism was further strengthened by the latest news from Bloomberg on the Eurozone’s ability to fight the energy crisis during the Asian session on Tuesday. “The European Union is ready to meet its gas storage target two months ahead of scheduleas the bloc braces for a harsh winter as Russia limits supplies […]
EUR/USD will remain in a range of 0.95-1.00 in the third quarter amid the gas crisis – Société Générale
The analysts of General Company offer a bearish outlook for the EUR/USD in the short term amid the deepening European gas crisis. Featured Statements “When oil prices rose in the run-up to the Global Financial Crisis, both the European and US terms of trade suffered, but this time, the relative effect is completely different.” “From […]
EUR/USD will move below parity for a while in the coming weeks – SocGen
According to Kit Juckes, chief currency strategist at General Companyit is EUR/USD unlikely to break below 0.95. However, the pair will trade below parity in the coming weeks. Europe has tapped into global LNG supplies “The good news that Europe has tapped into global LNG supplies and is doing a better job of unhooking Russian […]
Natural Gas Futures: Rebound Could Lose Traction
Open interest in natural gas futures markets continued the downward trend and fell by just 169 contracts on Wednesday, according to preliminary readings from the CME Group. On the other hand, volume resumed its upward trend and rose by some 53,400 contracts, partially offsetting the previous drop. Natural Gas remains supported around $7.50 Natural gas […]
Germany: We have taken numerous steps to quickly diversify away from Russia
The CEO of Siemens Energy said on Wednesday that they currently have one turbine in operation at the Nord Stream compression station, adding that they need 5 turbines to reach 100% capacity, Reuters reports. “We are doing our best to deliver the turbine, we can not understand what is the delay“, said the CEO. Commenting […]
EU Energy Policy Officer: No Technical Reasons For Russia To Further Reduce Nord Stream Flows
The person in charge of the energy policy of the European Union (EU), Kadri Simsonsaid on Tuesday that there is no technical reason for Russia to further reduce gas flows from Nord Stream 1. Featured Statements “We have to be prepared for supply cuts from Russia at any time“. “We hope to reach an agreement […]
Nord Stream: Russian gas flow has resumed after maintenance
As reported on Thursday by several Russian media outlets, citing a Nord Stream AG spokesman, the supply of gas through the gas pipeline has been resumed. The spokesman, however, has said that the restoration of gas flows will be gradual. Meanwhile, the German gas regulator has said that current gas flows through the pipeline Nord […]