Cum Clave analysis N.15 preview.
China will push forward the internationalization of the yuan and the convertibility of the capital account, the government’s official statement. China will also increase the flexibility of the yuan and keep the currency substantially stable.
The international scenario seems to worsen further, supplies are still partly suspended even if the gradual recovery in China seems to be progressing.
There are still many doubts about the existing reality. Every government and not just China moves individually, with its own needs.
• Europe is going through a gloomy scenario and politics is not helping while aid is scarce.
Masks are said to be unconstitutional in Honk Kong, in October, during the height of the anti-government protests many protesters wore masks to hide their identities from the authorities and also from their employers, particularly if they had close ties with Beijing.
Apparently, the automotive sector in China has started up again as the blockages have eased, but this is a technical rebound in our opinion…
The attempt to recover American natgas to the area of $ 1.90 is the result of yet another re-covering of derivatives, exchanges are medium-low. Much distrust on the market. Our view is still negative with targets in the $ 1.30 area.
The US Energy Information Administration (EIA) said the utilities injected 38 billion cubic feet (bcf) of gas into storage during the week ending April 3. This was more than expected.
It is necessary to remember that before the pandemic began to cut the energy growth of the global economy, gas was already trading close to its relative minimums as market prices. Many are preparing to make predictions for the current year, as many have said that natural gas would have flown in the $ 3 area in 2020. We have always maintained the opposite regardless of the pandemic.
Of course, hope lies in expectations, given that markets live on this….
Find out about industrial supply trends and forecasts. Negotiate the best with your suppliers. Sign in !!
Note that to purchase a previous analysis at a discounted price you must purchase the analysis of the week.