Natural Gas Fundamental Analysis October 24, 2012 Forecast

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Natural Gas Fundamental Analysis October 24, 2012 Forecast

Natural Gas Fundamental Analysis October 24, 2012 Forecast

Analysis and Recommendations:

Natural Gas recovered some of its loss from yesterday, adding 0.050 to trade at 3.502. On Monday, at the very end of the day, traders jump into the markets and took profits driving natural gas down 4.9% for the day. Today, with little changes gas recovered.

Energy investors are once again attempting to gauge what the most in-demand commodity will be so that they can adjust their positions accordingly. With more and more analysts noting an uptick in queries related to gas companies, many of these investors will be turning to natural gas producers.

Natural gas futures traditionally reach a seasonal low in October, when milder weather reduces demand, before recovering in the winter as heating fuel use peaks.

A US energy analyst told CBC News that Irving Oil Ltd. may be “eyeing the Ontario and Quebec energy markets after receiving approval by US authorities to export natural gas to Canada.”

The U.S. Department of Energy has approved Irving Oil Terminals of Portsmouth, New Hampshire,  to ship 58 Bcf of natural gas from the United States to any Canadian entry point.

Supporters of liquefied natural gas (LNG) will launch the first major campaign to push lawmakers to allow the sale of more U.S. gas abroad, as the industry push for exports intensifies.

According to Reuters, the effort by the Centre for Liquefied Natural Gas will include a new website aimed at policymakers and the public, backing the case that selling the nation’s surplus natural gas to foreign countries will yield significant economic benefits and not lead to a dramatic increase in prices.

Asia should set up a regional spot market for natural gas trading to reduce high acquisition costs, the International Energy Agency (IEA) chief has stated.

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 23, 2012 actual v. forecast

Date

 

Currency

 

 

Event

Actual

 

Forecast

 

Previous

Oct. 23

 

PLN

 

 

Polish Unemployment Rate 

12.40%

 

12.50%

 

12.40% 

 

 

GBP

 

 

BBA Mortgage Approvals 

31.2K

 

30.9K

 

30.7K 

 

 

CAD

 

 

Core Retail Sales (MoM) 

0.4%

 

0.2%

 

0.5% 

 

 

CAD

 

 

Retail Sales (MoM) 

0.3%

 

0.4%

 

0.7% 

 

 

CAD

 

 

Interest Rate Decision 

1.00%

 

1.00%

 

1.00% 

 

WEEKLY

 

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

Date

Time

Currency

Event

Forecast

Previous

Oct. 24 

07:58

EUR

French Manufacturing PMI 

44.0

42.7 

 

08:28

EUR

German Manufacturing PMI 

48.0

47.4 

 

09:00

EUR

German Ifo Business Climate Index 

101.6

101.4 

 

09:00

EUR

German Current Assessment 

109.7

110.3 

 

09:00

EUR

German Business Expectations 

94.3

93.2 

 

11:00

GBP

CBI Industrial Trends Orders 

 

-8 

 

15:00

USD

New Home Sales

385K

373K

Oct.26 

07:00

EUR

GfK German Consumer Climate 

5.9

5.9 

 

08:00

CHF

KOF Leading Indicators 

1.67

1.67 

Government Bond Auction

Date Time Country 

Oct 24 09:10 Sweden 

Oct 24 09:30 Germany 

Oct 24 14:30 Sweden 

Oct 24 15:30 Italy  

Oct 24 16:30 US 

Oct 25 00:30 Japan 

Oct 25 09:10 Sweden 

Oct 25 15:30 Italy  

Oct 25 17:00 US 

Oct 26 09:10 Italy

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About:FX Empire Analyst - Barry Norman

Barry produces a private Daily Market Review newsletter that is distributed around the globe to over 25,000 subscribers and recently published a book on Options Trading that is available from amazon.com

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