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MNI: Canada GDP Frayed By Wildfires, Floods And Port Strike

CANADIAN JULY GDP 0% VS +0.1% EXPECTED, PRIOR -0.2%

MNI BRIEF: BOJ JGB Buying Frequency and Scale Unchanged In Q4

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MNI SEP CHICAGO BUSINESS BAROMETER 44.1 VS AUG 48.7

MNI: CANADA JUL GROSS DOMESTIC PRODUCT +0.0% MOM

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TTF Lower With High Stocks Limiting LNG Risks

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TTF front month reverses earlier gains to turn negative on the day with low demand and high storage levels weighed against tighter supplies from Norwegian maintenance and possible disruption to global LNG supplies from Australia LNG strikes.

  • Risks for tight supplies this winter from cold weather or Asian LNG competition continue to boost future season prices with the Q1 2024 – Oct23 spread rising back up to 18€/MWh today from a low of around 10.5€/MWH earlier in August. The spread reached a high of 18.5€/MWH in July.
  • The Win24-Win23 spread has risen this week from a low of 1.4€/MWh on 22 Aug up to 6.6€/MWh today.
    • TTF OCT 23 down -1.2% at 34.6€/MWh
    • TTF WIN 23 up 0% at 48.25€/MWh
    • TTF SUM 24 down -0.3% at 51.07€/MWh
    • TTF WIN 24 down -0.2% at 54.76€/MWh

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TTF front month reverses earlier gains to turn negative on the day with low demand and high storage levels weighed against tighter supplies from Norwegian maintenance and possible disruption to global LNG supplies from Australia LNG strikes.

  • Risks for tight supplies this winter from cold weather or Asian LNG competition continue to boost future season prices with the Q1 2024 – Oct23 spread rising back up to 18€/MWh today from a low of around 10.5€/MWH earlier in August. The spread reached a high of 18.5€/MWH in July.
  • The Win24-Win23 spread has risen this week from a low of 1.4€/MWh on 22 Aug up to 6.6€/MWh today.
    • TTF OCT 23 down -1.2% at 34.6€/MWh
    • TTF WIN 23 up 0% at 48.25€/MWh
    • TTF SUM 24 down -0.3% at 51.07€/MWh
    • TTF WIN 24 down -0.2% at 54.76€/MWh

Keep reading...Show less