Natural Gas Fundamental Analysis July 27, 2012, Forecast

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Analysis and Recommendations:

Natural Gas is trading at 3.082 as investors await today’s inventory. After weeks of extremely hot weather and droughts, traders are hoping to see a drop in inventory levels.

Inventory will be released just at the time of writing this report. The actual report will be printed below.

Today’s inventory showed:

Working gas in storage was 3,189 Bcf as of Friday, July 20, 2012, according to EIA estimates. This represents a net increase of 26 Bcf from the previous week. Stocks were 487 Bcf higher than last year at this time and 435 Bcf above the 5-year average of 2,754 Bcf. In the East Region, stocks were 167 Bcf above the 5-year average following net injections of 20 Bcf. Stocks in the Producing Region were 181 Bcf above the 5-year average of 938 Bcf after a net withdrawal of 1 Bcf. Stocks in the West Region were 88 Bcf above the 5-year average after a net addition of 7 Bcf. At 3,189 Bcf, total working gas is above the 5-year historical range.

Price had very little reaction to the inventory data when it was released

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 July 26, 2012 actual v. forecast

Date

 

Currency

 

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Jul. 26

 

KRW

 

 

 

South Korean GDP (QoQ) 

0.4%

 

0.5% 

 

0.9% 

 

 

 

 

JPY

 

 

 

BoJ Governor Shirakawa Speaks 

 

 

 

 

 

 

 

 

 

EUR

 

 

 

GfK German Consumer Climate 

5.9

 

5.8 

 

5.8 

 

 

 

 

USD

 

 

 

Core Durable Goods Orders (MoM) 

-1.1%

 

0.1% 

 

0.8% 

   

 

 

USD

 

 

 

Durable Goods Orders (MoM) 

1.6%

 

0.4% 

 

1.6% 

   

 

 

USD

 

 

 

Initial Jobless Claims 

353K

 

380K 

 

388K 

   

 

 

USD

 

 

 

Continuing Jobless Claims 

3287K

 

3310K 

 

3317K 

   

 

WEEKLY

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

Date

Time

Currency

 Event

Previous

Jul 27

27th-31st

GBP

Nationwide HPI m/m

-0.6%

All Day

EUR

German Prelim CPI m/m

-0.1%

7:00

CHF

KOF Economic Barometer

1.16

12:30

USD

Advance GDP q/q

1.9%

13:55

USD

Revised UoM Consumer Sentiment

72.0

Government Bond Auctions

Date  Time  Country 

Jul 27  09:10  Italy

Jul 27  17:00  US

 

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