RENEWABLES: German Wind Output Forecast Comparison
May-16 15:16
See the latest German wind output forecast for base-load hours from SpotRenewables vs Bloomberg’s ECMWF model for the next seven days as of Friday afternoon.
- Both models have similar wind forecasts on 17 May and 23 May, with the smallest deviations on those days at between 0.01-0.09GW.
- The largest deviation is seen on 22 May as SpotRenewables predicts wind to drop at a slower pace than ECWMF from 21 May. The deviation on that day is 6.8GW.
Despite these differences, both models show wind to be on a general downward trend around 17-19 May before beginning to climb about 20-21 May and peaking.
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FED: US TSY 17W AUCTION: NON-COMP BIDS $708 MLN FROM $60.000 BLN TOTAL
Apr-16 15:15
- US TSY 17W AUCTION: NON-COMP BIDS $708 MLN FROM $60.000 BLN TOTAL
FOREX: Barclays See Further Upside Risks for Japanese Yen
Apr-16 15:10
- Beyond tariff-induced risk aversion and broad USD weakness, Barclays see further upside risks to the JPY as US-Japan negotiations commence with a wide range of potential outcomes. Beyond the discussions on goods trade, currency negotiations may form part of a potential Trump Administration strategy to reshape the global monetary order, the so-called 'Mar-a-Lago Accord.'
- A potential currency agreement could range from an outright accord on USD-selling interventions on one extreme, to a mere verbal communication of a desire for a weaker USD or regarding concern over JPY weakness. Another indirect agreement could come in the form of a commitment to maintain Japan's positive growth dynamics on wages, thereby ensuring continued BoJ rate hikes and hence tightening yield differentials.
- Barclays continue to see upside risk to the JPY beyond their 142 forecast. While Japan may agree to some yen strength, USDJPY below 130 could raise concerns, according to the bank.
- While details on official discussions are likely to dominate the headlines, it is worth noting that on Thursday, a speech by BoJ Board Member Nakagawa is also scheduled.
US TSY OPTIONS: BLOCK: Jun'25 10Y Calls
Apr-16 15:02
- 8,500 TYM5 112.5 calls 31 vs. 110-31/0.28% at 1058:27ET
