RENEWABLES: CWE Morning Wind Forecast
See the latest CWE Wind forecast for base-load hours from this morning for the next seven days. CWE wind is forecast to be on downward trend over 9-11 June before rebounding slightly on 12 June.
CWE Wind for 7- 13 June
- 7 June: 30.16GW
- 8 June: 42.18GW
- 9 June: 25.70GW
- 10 June: 20.35GW
- 11 June: 18.66GW
- 12 June: 26.60GW
13 June: 18.11GW
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EURJPY TECHS: Monitoring Support At The 50-Day EMA
- RES 4: 165.92 2.0% 10-dma envelope
- RES 3: 165.43 High Nov 8
- RES 2: 164.90 High Dec 30 ‘24 and a key medium-term resistance
- RES 1: 164.63 High Mar 18 and the bull trigger
- PRICE: 162.54 @ 07:11 GMT May 7
- SUP 1: 161.70/60 50-day EMA / Low May 6
- SUP 2: 160.99 Low Apr 22
- SUP 3: 159.48 Low Apr 9
- SUP 4: 158.56 61.8% retracement of the Feb 28 - May 2 bull leg
A bullish theme in EURJPY remains intact despite the pullback from the May 2 high. The recent print above key resistance at 164.19, Mar 18 high, is a positive development for bulls. A clear break of this hurdle would confirm a resumption of the upleg that started Feb 28. This would open 164.90 next, the Dec 30 ‘24 high. First key support to watch is 161.70, the 50-day EMA. It has been pierced, a clear break would undermine the bullish theme.
BOE: MNI BoE Preview - May 2025: Could “Gradual” Be Dropped?
- Going into this week’s meeting an outcome other than a 25bp cut would be surprising but there will be a number of things to watch: any changes to the guidance and the inflation / growth forecast changes, the vote split and the introduction of new scenarios.
- For the guidance we expect "restrictive" and "careful" to remain but we question whether "gradual" will be removed and talk through the rationale for this potential change.
- On the vote split, consensus expects 8-1 but neither Dhingra nor Mann dissenting for a 50bp cut would be a huge surprise. Taylor or Ramsden are plausible possible dissenters that would be more noteworthy - and any other member voting for a 50bp cut or for Bank Rate on hold would be a huge surprise.
- We look at the potential for different CPI and GDP forecasts.
- Overall we think that a dovish pivot from the MPC is possible, but that the market is already partially pricing this.
- We also round up over 20 sellside views ahead of the meeting.
FINLAND T-BILL AUCTION PREVIEW: On offer next week
Finland has announced it will be looking to sell a combined E2.0bln of the following at its auction next Tuesday, May 13:
- E1-2bln Nov 13, 2025 RFTB
- E1-2bln Feb 13, 2026 RFTB
