Natural Gas Fundamental Analysis December 6, 2012, Forecast

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Natural Gas Fundamental Analysis December 6, 2012, Forecast

Natural Gas Fundamental Analysis December 6, 2012, Forecast

Analysis and Recommendations:

Natural Gas added a few cents to trade at 3.592 as traders abandoned the commodity in droves. Gas was trading as high as 3.99 just a few weeks ago, as demand declined and supply increased traders dumped NG. Markets will hold tight until tomorrows weekly inventory update. Residential usage continues to decline, as warmer weather continues in the US. Spare capacity is not currently an issue with nuclear plants back on line after maintenance.

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 December 5, 2012 actual v. forecast

Date

 

Currency

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Dec. 05

 

AUD

 

 

GDP (QoQ) 

0.5%

 

0.6%

 

0.6% 

 

 

 

 

AUD

 

 

RBA Assist Gov Lowe Speaks 

 

 

 

 

 

 

 

 

 

GBP

 

 

Services PMI 

50.2

 

51.1

 

50.6 

 

 

 

 

EUR

 

 

Spanish 10-Year Obligacion Auction 

5.290%

 

 

 

5.517% 

 

 

 

 

EUR

 

 

Retail Sales (MoM) 

-1.2%

 

-0.1%

 

-0.6% 

  

 

 

PLN

 

 

Polish Interest Rate Decision 

4.25%

 

4.25%

 

4.50% 

 

 

 

 

RUB

 

 

Russian CPI (MoM) 

0.3%

 

0.5%

 

0.5% 

 

 

 

 

USD

 

 

ADP Nonfarm Employment Change 

118K

 

125K

 

157K 

  

 

 

USD

 

 

Nonfarm Productivity (QoQ) 

2.9%

 

2.7%

 

1.9% 

 

 

 

 

USD

 

 

Unit Labor Costs (QoQ) 

-1.9%

 

-0.9%

 

-0.1% 

 

 

 

WEEKLY

 

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

Date

Time

Currency

Event

Forecast

Previous

Dec. 06 

08:15

CHF

CPI (MoM) 

 

0.1%

 

09:30

GBP

Trade Balance 

-8.8B

-8.4B

 

10:00

EUR

GDP (QoQ) 

-0.1%

-0.1%

 

11:00

EUR

German Factory Orders (MoM) 

0.9%

-3.3%

 

12:00

GBP

Interest Rate Decision 

0.50%

0.50%

 

12:00

GBP

BOE QE Total 

375B

375B

 

12:45

EUR

Interest Rate Decision 

0.75%

0.75%

Dec. 07

09:30

GBP

Industrial Production (MoM) 

0.7%

-1.7%

 

09:30

GBP

Manufacturing Production (MoM) 

-0.2%

0.1%

 

09:30

GBP

Industrial Production (YoY) 

-0.6%

-2.6%

 

11:00

EUR

German Industrial Production (MoM) 

-0.5%

-1.8%

Government Bond Auction

Date Time Country 

Dec 06 01:30 Japan 

Dec 06 09:50 France 

Dec 06 16:00 US 

Dec 07 16:30 Italy

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