Natural Gas Fundamental Analysis August 20, 2012, Forecast

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By FX Empire Analyst - Barry Norman
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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

 

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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