LNG: Low LNG Freight Rates Look Set to Continue into 2025
Nov-15 15:47
Winter 2024 LNG Freight rates have been uncharacteristically low and 2025 global LNG Freight rates are currently set to be the lowest in 6 years, Spark Commodites said.
- Q4 2024 is pricing in 83% lower than Q4 2023 at $28.5k and 87% lower than the average of Q4 prices in the last 5 years.
- The latest Atlantic Forward curve assessment for Cal25 at $32k is the lowest priced Cal assessment on record and suggests record lows are set to continue into 2025.
Source: Spark Commodities
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SCANDIS: USDNOK Pierces Sep High As Scandis Underperform G10
Oct-16 15:35
Scandi currencies underperform the G10, seemingly a function of today’s broader USD strength. Norges Bank Governor Wolden-Bache’s speech headlines tomorrow’s regional calendar, while Swedish LFS data is due on Friday.
- USDNOK (+0.95% today) has pierced the Sep 11 high at 10.9137. Immediate resistance is 10.9625 (76.4% retrace of the Jul to Sep selloff), with the Jul 25 high at 11.1388 seen further out.
- SEK crosses have seen similar intraday price action to NOK, with EURSEK +0.6% and USDSEK +0.8%.
- A correction on our earlier post previewing Governor Bache’s speech. The topic will be “Norges Bank's balance sheet”, potentially reducing the scope for meaningful policy rate signals.
OPTIONS: Expiries for Oct17 NY cut 1000ET (Source DTCC)
Oct-16 15:33
- EUR/USD: $1.0735-45(E1.9bln), $1.0800(E988mln), $1.0845-50(E695mln), $1.0975(E914mln), $1.0990-10(E2.8bln), $1.1065(E1.3bln)
- USD/JPY: Y147.60($1.1bln), Y149.50($575mln), Y150.00-05($1.2bln)
- EUR/JPY: Y162.00(E530mln), Y165.00(E808mln)
- AUD/USD: $0.6690-00(A$1.2bln)
- AUD/NZD: N$1.0950(A$775mln)
- USD/CAD: C$1.3600-10($1.0bln)
- USD/CNY: Cny6.9867($1.3bln), Cny6.9913-18($2.0bln), Cny6.9934($1.0bln), Cny7.0056($1bln)
US TSYS: US TSY 17W BILL AUCTION: HIGH 4.420%(ALLOT 64.69%)
Oct-16 15:32
- US TSY 17W BILL AUCTION: HIGH 4.420%(ALLOT 64.69%)
- US TSY 17W BILL AUCTION: DEALERS TAKE 35.95% OF COMPETITIVES
- US TSY 17W BILL AUCTION: DIRECTS TAKE 4.96% OF COMPETITIVES
- US TSY 17W BILL AUCTION: INDIRECTS TAKE 59.09% OF COMPETITIVES
- US TSY 17W BILL AUCTION: BID/CVR 3.05
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