RENEWABLES: CWE Morning Solar Forecast
See the latest CWE Solar forecast for base-load hours from this morning for the next seven days. CWE Solar forecast on 10-11 March (Mon-Tues) is expected at 8-9% load factors, stable on the day from the previous forecast.
CWE Solar for 8-15 March
- 8 March: 20.98GW
- 9 March: 17.40GW
- 10 March: 13.92GW
- 11 March: 12.47GW
- 12 March: 10.88GW
- 13 March: 7.23GW
- 14 March: 8.39GW
15 March: 7.19GW
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GOLD TECHS: Impulsive Bull Wave
- RES 4: $2917.5 - 1.764 proj of the Nov 14 - Dec 12 - 19 price swing
- RES 3: $2900.0 - Round number resistance
- RES 2: $2867.5 - 1.50 proj of the Nov 14 - Dec 12 - 19 price swing
- RES 1: $2861.9 - Intraday high
- PRICE: $2857.8@ 07:28 GMT Feb 5
- SUP 1: $2807.3 - Low Feb 4
- SUP 2: $2746.5 - 20-day EMA
- SUP 3: $2730.6 - Low Jan 27
- SUP 4: $2698.4 - 50-day EMA
A bull cycle in Gold remains in play. Last week’s extension higher and this week’s appreciation, confirms a resumption of the uptrend and maintains the bullish price sequence of higher highs and higher lows. Moving average studies are in a bull mode position too, highlighting a dominant uptrend. Sights are on $2867.5 next, a Fibonacci projection. The first key support to watch is $2698.4, the 50-day EMA. The 20-day EMA is at $2746.5.
BUNDS: Another busy overnight session
- It is another relatively busy overnight session for Bund, with elevated volumes in {us} US Tnotes and the German contract going into the European session.
- Risk remains tilted to the upside for the German Bond on growth concerns in Europe, as well as Technically.
- Bund is now eyeing 133.58, Monday's quick/ fast market high printed on Monday, but better will now be seen at 2.30% in Yield terms.
- The German 10yr Yield printed at 133.86 high, with a 2.309% low on the 2nd January.
- Today sees Services PMIs, but final readings for the major developed countries, so should be taking a back seat.
- Focus will be on the US ISM services, while US ADP is also due.
- US Quarterly refunding will garner interest as well.
- SUPPLY: Gilt 2053 £2bn (Equates to 19.8k Gilt) could somewhat weigh into the bidding deadline.
- SPEAKERS: Fed Barkin (x2), Goolsbee, Bowman, ECB Lane.
RATINGS: Moody's Affirmed The EFSF On Tuesday
Moody’s affirmed the European Financial Stability Facility (EFSF) at Aaa; Outlook stable in an ad-hoc ratings announcement after the close on Tuesday.
