Natural Gas Fundamental Analysis August 3, 2012, Forecast
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Analysis and Recommendations:
Natural Gas was trading at 3.08 until the weekly inventory was released, which is shown below, Natural Gas dropped to trade at 3.004 as soon as the information was released. Traders also turned negative after Mr. Draghi from the ECB let markets down, offering nothing in the way of a plan, or policy or stimulus to help the failing EU.
Today’s inventory summary reads as follows:
Working gas in storage was 3,217 Bcf as of Friday, July 27, 2012, according to EIA estimates. This represents a net increase of 28 Bcf from the previous week. Stocks were 472 Bcf higher than last year at this time and 407 Bcf above the 5-year average of 2,810 Bcf. In the East Region, stocks were 148 Bcf above the 5-year average following net injections of 30 Bcf. Stocks in the Producing Region were 172 Bcf above the 5-year average of 941 Bcf after a net withdrawal of 6 Bcf. Stocks in the West Region were 87 Bcf above the 5-year average after a net addition of 4 Bcf. At 3,217 Bcf, total working gas is above the 5-year historical range.
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 recent analysis and information in our weekly reports and we provide daily updates and outlooks.
Economic Data August 2, 2012 actual v. forecast
|
Date |
|
Currency |
|
|
Event |
Actual |
|
Forecast |
|
Previous |
|
|
|
|
Aug. 02 |
|
AUD |
|
|
Retail Sales (MoM) |
1.0% |
|
0.7% |
|
0.8% |
|||
|
|
|
AUD |
|
|
Trade Balance |
0.01B |
|
-0.35B |
|
-0.31B |
|||
|
|
|
EUR |
|
|
Spanish Unemployment Change |
-27.80K |
|
|
|
-98.90K |
|
||
|
|
|
CHF |
|
|
Retail Sales (YoY) |
3.7% |
|
2.0% |
|
6.2% |
|
||
|
|
|
CHF |
|
|
SVME PMI |
48.6 |
|
47.0 |
|
48.1 |
|
||
|
|
|
NOK |
|
|
Norwegian Unemployment Rate |
3.00% |
|
3.00% |
|
3.00% |
|
||
|
|
|
EUR |
|
|
Spanish 10-Year Obligacion Auction |
6.647% |
|
|
|
6.430% |
|
||
|
|
|
GBP |
|
|
Interest Rate Decision |
0.50% |
|
0.50% |
|
0.50% |
|
||
|
|
|
GBP |
|
|
BOE QE Total |
375B |
|
375B |
|
375B |
|
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 USD
|
Date |
Time |
Currency |
Event |
Forecast |
Previous |
|
Aug 3 |
12:30 |
USD |
80K |
||
|
12:30 |
USD |
8.2% |
|||
|
12:30 |
USD |
0.3% |
|||
|
14:00 |
USD |
52.1 |
Date Time Country
Aug 06 09:10 Norway
Aug 07 00:30 Japan
Aug 07 09:15 Austria
Aug 07 14:30 UK
Aug 07 17:00 US
Aug 08 09:30 Germany
Aug 08 10:00 Norway
Aug 08 15:30 Italy
Aug 08 17:00 US
Aug 09 15:30 Italy
Aug 09 17:00 US
Aug 10 10:00 Belgium
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