POWER: Germany’s Steag is Suing Bnetza Over Coal Plants in Reserve
Feb-12 09:48
Germany’s Steag is suing energy regulator Bnetza for putting its coal-fired power plants in the country’s reserve instead of being able to switch them off according to Bloomberg.
- Steag issued a complaint last year saying the utility’s power plants are unprofitable to run.
- “It is difficult to find people to operate these facilities, and we cannot make a profit from the plants in the reserve,” Steag’s spokesperson Daniel Mühlenfeld said this week.
- Bnetza previously requested Steag to keep five coal-fired power plants with a combined capacity of 2.5GW online until the end of March 2031 to ensure security of power supplies.
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MACRO ANALYSIS: MNI US Employment Insight, Jan'25: Questioning Any 2025 Cuts
Jan-13 09:44
- We have published and e-mailed to subscribers the MNI US Employment Insight.
- Please find the full report including MNI analysis and analyst view changes here: https://media.marketnews.com/US_Employment_Report_Jan2025_5bde9f0677.pdf?
FOREX: FX OPTION EXPIRY
Jan-13 09:42
Of note:
EURUSD 3.05bn at 1.0200.
EURUSD 1.81bn at 1.0200 (tue).
USDCNY 1.34bn at 7.3350 (tue).
EURUSD 1.75bn at 1.0200 (wed).
EURUSD 2.02bn at 1.0200 (fri).
- EURUSD: 1.0200 (3.05bn), 1.0250 (1.43bn), 1.0300 (3.35bn), 1.0310 (1.64bn).
- USDJPY: 158.00 (931mln).
- USDCAD: 1.4410 (486mln).
USD: The EUR and the Pound are breaking through their support
Jan-13 09:34
- Watch the EUR and the Pound, both falling through new lows, but the Dollar is seeing a broader bid, Risk Off tone and Elevated Yield have been supportive of the Greenback, and also a continutaion since Friday's data.
- EURUSD is through the initial 1.0201 61.8% of the Sep ‘22 - Jul ‘23 bull leg, further momentum opens to 1.0138 1.764 proj of the Sep 25 - Oct 23 - Nov 5 price swing
- Cable sees 1.2087 0.764 proj of the Sep 26 - Nov 22 - Dec 6 price swing next.
