Natural Gas Fundamental Analysis August 20, 2012, Forecast

Posted August 17, 2012 14:35 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
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Analysis and Recommendations:

Natural Gas is trading at 2.751 adding 0.026, as markets adjust and correct from their reaction after inventories were released yesterday. U.S. natural gas prices fell sharply yesterday after cooler than normal temperatures led to lower demand for power to drive air conditioners, the Energy Information Administration said.

During the week ending August 15, U.S. gas consumption fell 2.7% from the previous week, led by a drop of 6.8% in the power sector. Average U.S. temperatures during the week were 2 degrees cooler than the same period in 2011. Working natural gas in underground storage increased to 3.261 trillion cubic feet as of August 10, an implied net injection of 20 billion cubic feet from the previous week. Storage levels are up almost 16% from a year ago.

FxEmpire provides in-depth analysis for each currency and commodity we review. Fundamental analysis is provided in three components. We provide a detailed monthly analysis and forecast at the beginning of each month. Then we provide more up to the data analysis and information in our weekly reports.

Economic Data August 17, 2012 actual v. forecast

Date

Currency

Event

Actual

Forecast

Previous

EUR

German PPI (MoM)

0.0%

0.4%

-0.4%

EUR

German PPI (YoY)

0.9%

1.3%

1.6%

EUR

Current Account

12.7B

11.1B

10.3B

EUR

Trade Balance

10.5B

5.4B

6.8B

CAD

Core CPI (MoM)

-0.1%

0.2%

-0.4%

CAD

CPI (MoM)

-0.1%

0.2%

-0.4%

CAD

CPI (YoY)

1.3%

2.0%

1.5%

USD

Michigan Consumer Sentiment

73.6

72.4

72.3

USD

Michigan Inflation Expectations

3.6%

3.0%

WEEKLY

Natural Gas Weekly Update
Release Schedule: Thursday between 2:00 and 2:30 p.m. (Eastern Time)
Weekly Natural Gas Storage Report
Release Schedule: Thursday at 10:30 (Eastern Time) (schedule)

Upcoming Economic Events that affect the CHF, EUR, GBP and USD

Date	Time	Currency	Event	Previous
Aug 21	8:30	GBP	Public Sector Net Borrowing	12.1B
	10:00	GBP	CBI Industrial Order Expectations	-6
Aug 22	14:00	USD	Existing Home Sales	4.37M
	14:30	USD	Crude Oil Inventories	-3.7M
	18:00	USD	FOMC Meeting Minutes

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About: FX Empire Analyst - Barry Norman

Barry produces a private Daily Market Review newsletter that is distributed around the globe to over 25,000 subscribers and recently published a book on Options Trading that is available from amazon.com

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