See the latest German renewables forecast for base-load hours for the next seven days from this afternoon, including the midday change. German wind has been revised up by around 1.3GW on 5 September to a 28% load factor – likely weighing down prices further from the previous day.
German: Wind for 4-11 September:
German: Solar for 4-11 September:
11 September: 6.56GW
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Trend conditions in USDCAD remain bullish and Thursday’s gains reinforce this condition. Recent gains resulted in a break of 1.3792, the Jun 11 high, and more recently, a print above key resistance at 1.3846, the Apr 16 high. The trend condition is overbought, however, the break of 1.3846 strengthens the bull theme and opens 1.3899, the Nov 1 ‘23 high and a key resistance. Firm support lies at 1.3718, the 50-day EMA.
Another Fed rate call change, this one by Nomura - who are still a little more conservative on the pace and magnitude cuts than some others in the wake of the July employment report. They now see: