Natural Gas Fundamental Analysis October 26, 2012 Forecast

Posted October 25, 2012 17:03 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
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Analysis and Recommendations:

Natural Gas dipped a few cents to trade at 3.406 today. Today’s EIA inventory stated: Working gas in storage was 3,843 Bcf as of Friday, October 19, 2012, according to EIA estimates. This represents a net increase of 67 Bcf from the previous week. Stocks were 153 Bcf higher than last year at this time and 251 Bcf above the 5-year average of 3,592 Bcf. In the East Region, stocks were 44 Bcf above the 5-year average following net injections of 28 Bcf. Stocks in the Producing Region were 158 Bcf above the 5-year average of 1,096 Bcf after a net injection of 28 Bcf. Stocks in the West Region were 49 Bcf above the 5-year average after a net addition of 11 Bcf. At 3,843 Bcf, total working gas is above the 5-year historical range. This report came in exactly as market expectations and had little effect on prices.

Accuweather had no change to the forecast, as mild seasonable weather is expected over the next weeks and no storms are brewing in the gulf region. Natural Gas just sat tight today.

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 25, 2012 actual v. forecast

Date	Currency	Event	Actual	Forecast	Previous
Oct. 25	HUF	Hungarian Retail Sales (YoY)	-2.40%	-2.20%	-2.60%
	SEK	Swedish Interest Rate Decision	1.25%	1.25%	1.25%
	GBP	GDP (QoQ)	1.0%	0.6%	-0.4%
	GBP	GDP (YoY)	0.0%	-0.5%	-0.5%
	BRL	Brazilian Unemployment Rate	5.4%	5.3%	5.3%
	USD	Core Durable Goods Orders (MoM)	2.0%	0.8%	-2.1%
	USD	Durable Goods Orders (MoM)	9.9%	7.1%	-13.1%
	USD	Initial Jobless Claims	369K	370K	392K
	USD	Continuing Jobless Claims	3254K	3255K	3256K
	MXN	Mexican Trade Balance	0.234B	-1.318B	-0.979B
	USD	Pending Home Sales (MoM)	0.3%	2.1%	-2.6%

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

Date	Time	Currency	Event	Forecast	Previous
Oct. 26	07:00	EUR	GfK German Consumer Climate	5.9	5.9
	08:00	CHF	KOF Leading Indicators	1.63	1.67
	13:30	USD	GDP (QoQ)	1.9%	1.3%
	14:55	USD	Michigan Consumer Sentiment	83.0	83.1

Government Bond Auction

Date Time Country

Oct 26 09:10 Italy

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)

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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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