MNI China Daily Summary: Thursday, April 22

MNI BRIEF: China To Quicken Resolving Local Debt Risks

RPT-MNI INTERVIEW: ECB's Wunsch Sees At Least Two Cuts By Dec

MNI BRIEF: Brazil CenBank Faces Greater Uncertainty - Campos

MNI: PBOC Conducts CNY2 Bln Via OMO Mon; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS MON

EZ/UK T-Bill Calendar: 3/6-Month ATB Auction on Tuesday

EZ/UK Bond Supply Calendar: EU, FI Synds; IT, DE Auctions Tues

MNI: CANADA MAR INDUSTRIAL PRICES +0.8% MOM; EX-ENERGY +0.8%

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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TTF Steady With Mixed Weather Forecasts and Steady Supply

NATURAL GAS

TTF is holding steady with higher demand expected due to cold weather and low wind output this week but a return above normal temperatures are expected over the coming weekend. After falling 64% from a peak in early December TTF front month as found support in the last couple of weeks generally just above 55€/MWh.

    • TTF MAR 23 up 0.5% at 58.2€/MWh
    • TTF SUM 23 down -0.4% at 59.85€/MWh
    • TTF WIN 23 down -0.9% at 67.15€/MWh
  • Competition for LNG supplies from Asia is adding to upside risk with low cargo prices attracting recent interest of energy companies in Asian markets including Thailand, India and Bangladesh. LNG net import flows to Europe remain steady and averaged 436mcm/d last week.
  • Total EU gas storage is at 69.49% according to GIE data from 4 Feb compared to a five year average of 50.5%.
  • Norwegian imports are today nominated back up at 335mcm/d after field outages in late January. Gas transit flows through Ukraine at today expected at 29.3mcm/d.
Energy BulletsCommodities
Energy BulletsCommodities

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