POWER: 600MW Geman-Swedish Baltic Cable Extends Curtailment
Dec-11 15:53
The unplanned 400MW curtailment on the 600-615MW Baltic Cable between Sweden (SE4) and Germany has b...
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MNI EXCLUSIVE: MNI Speaks to Private Data Provider Revelio Labs’ Chief Economist
Nov-11 15:52
- Private data provider Revelio Labs’ chief economist Lisa Simon speaks about the U.S. labor market -- On MNI Policy MainWire now, for more details please contact sales@marketnews.com
GOLD: Overnight Advance Moderates, Bullish Conditions Prevailing
Nov-11 15:47
- Despite the broader pressure on the USD following the release of weak US ADP jobs data, spot gold has instead taken its cues from the moderate drift lower for US equities, which turned off their recovery highs overnight and extended some weakness over the past hour.
- There may be some short-term positioning dynamics in play here as well, given the punchy 4.65% rally from last Thursday’s lows. Importantly, spot gold is only 0.2% lower on the session, and has seen some fresh demand sub $4,100.
- Overall, the downleg for XAUUSD since Oct 20 appears to have been a healthy correction, which has allowed an overbought condition to unwind. Most recent gains also suggest the correction is over. Price remains above a key support at the 50-day EMA, intersecting at $3890.0.0. Clearance of this EMA would be required for a deeper retracement.
- On the topside, initial resistance is at $4161.4, the Oct 22 high. A stronger recovery would refocus attention on $4381.5, the Oct 20 high and bull trigger.
EUROPEAN FISCAL: Little Details In Germany FinMin Debt Commission Update
Nov-11 15:38
- Along with the Bundesbank proposal from earlier, the German Finance ministry has also put out a press statement highlighting the current status of a debt brake reform proposal by its own enacted commission. The statement does not contain too many details, mainly mentioning a Q1'26 final report publication as well as the creation of 4 working groups within the commission, hinting at where the focus of their proposal may lie:
- 1) Sustainability of investment and growth, sustainability of public finances
- 2) Compatibility with EU fiscal rules
- 3) Exemption for defense-related expenditure, transitional arrangements following an exceptional emergency situation, repayment requirements, and cyclical adjustment
- 4) Monitoring / limitation of public debt
- Again, keep in mind that any constitutional amendments need a 2/3rds majority in Bundestag, which would be subject to approval from AfD / die Linke in the current legislative period.
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