Natural Gas Fundamental Analysis October 18, 2012 Forecast

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By FX Empire Analyst - Barry Norman
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Analysis and Recommendations:

Natural Gas is trading at 3.481 adding back 0.044 today. A weakened US dollar helped push up dollar denominated commodities. Also an increase in building permits and housing showed an improvement in the US economy supported by jobs, consumer confidence and manufacturing.

As per US Energy department, storage level injection is likely to increase by 47 BCF, which is lower than prior week injection. This, may support prices for a while whereas a slow down in world economic growth and US energy independence plan might be weighing on gas prices.

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 October 17, 2012 actual v. forecast

Date

 

Currency

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Oct. 17

 

GBP

 

 

Average Earnings Index +Bonus 

1.7%

 

1.6% 

 

1.6% 

   

 

 

GBP

 

 

Claimant Count Change 

-4.0K

 

-1.0K 

 

-14.2K 

   

 

 

USD

 

 

Building Permits 

0.894M

 

0.810M 

 

0.801M 

 

 

 

 

USD

 

 

Housing Starts 

0.872M

 

0.770M 

 

0.758M 

   

 

WEEKLY

 

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

Date

Time

Currency

Event

Forecast

Previous

Oct. 18

09:30

GBP

Retail Sales (MoM) 

0.4%

-0.2%

 

09:30

GBP

Retail Sales (YoY) 

2.1%

2.7%

Government Bond Auction

Date Time Country 

Oct 18 08:30 Spain           

Oct 18 08:50 France 

Oct 18 09:30 UK 

Oct 18 09:50 France 

Oct 18 14:30 Sweden 

Oct 18 15:00 US 

Oct 18 17:00 US

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