Natural Gas Fundamental Analysis September 13, 2012, Forecast
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Analysis and Recommendations:
Natural Gas is trading at 2.958 down slightly for the day, as traders took advantage of the weakened USD to buy up commodities all around. Increasing demand for electricity production in Mexico, where the industrial production climbed up by more than 4.5 percent in the last month might continue to support gas prices in today’s session.
Expectation of rising space cooling demand may keep gas prices high for today’s session. MDA Earth Sat, another leading weather forecaster, said the 6 to 10-day forecast period would see cooler temperatures and characterized the forecast for the 11- to 15-day period as “a bit cooler than expected as well. In the current week we may expect natural gas storage injection figure to again come in below seasonal norms due to the effects of Hurricane Isaac, which shut most Gulf of Mexico production for several days. As per National Hurricane Centre, tropical depression strengthened to storm Nadine in North Atlantic might be creating concern of supply tightening.
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 Events forecast vs. actual September 12, 2012
|
Date |
|
Currency |
|
|
Event |
Actual |
|
Forecast |
|
Previous |
|
|
|
Sep. 12 |
|
KRW |
|
|
South Korean Unemployment Rate |
3.1% |
|
3.2% |
|
3.1% |
|
|
|
|
|
JPY |
|
|
Tertiary Industry Activity Index (MoM) |
-0.8% |
|
-0.4% |
|
0.2% |
||
|
|
|
AUD |
|
|
Westpac Consumer Sentiment |
1.60% |
|
|
|
-2.50% |
|
|
|
|
|
EUR |
|
|
French CPI (MoM) |
0.7% |
|
0.5% |
|
-0.4% |
|
|
|
|
|
INR |
|
|
Indian Industrial Production (YoY) |
0.1% |
|
0.3% |
|
-1.8% |
|
|
|
|
|
EUR |
|
|
German CPI (MoM) |
0.4% |
|
0.3% |
|
0.3% |
|
|
|
|
|
EUR |
|
|
German CPI (YoY) |
2.1% |
|
2.0% |
|
2.0% |
|
|
|
|
|
GBP |
|
|
Average Earnings Index +Bonus |
1.5% |
|
1.6% |
|
1.8% |
||
|
|
|
GBP |
|
|
Claimant Count Change |
-15.0K |
|
0.5K |
|
-13.6K |
||
|
|
|
EUR |
|
|
Industrial Production (MoM) |
0.6% |
|
-0.1% |
|
-0.6% |
|
|
|
|
|
USD |
|
|
Import Price Index (MoM) |
0.7% |
|
1.4% |
|
-0.7% |
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)
Upcoming Economic Events (today is the FOMC statement)
|
Date |
Time |
|
Currency |
|
|
Event |
Forecast |
|
Previous |
|
|
|
|
09:00 |
|
EUR |
|
|
ECB Monthly Report |
|
|
|
|
|
|
|
13:30 |
|
USD |
|
|
Core PPI (MoM) |
0.2% |
|
0.4% |
|
|
|
|
13:30 |
|
USD |
|
|
PPI (MoM) |
1.1% |
|
0.3% |
|
|
|
|
13:30 |
|
USD |
|
|
Initial Jobless Claims |
370K |
|
365K |
|
|
|
|
13:30 |
|
USD |
|
|
Continuing Jobless Claims |
3318K |
|
3322K |
|
|
|
|
13:30 |
|
USD |
|
|
PPI (YoY) |
1.4% |
|
0.5% |
|
|
|
|
13:30 |
|
USD |
|
|
Core PPI (YoY) |
2.6% |
|
2.5% |
|
|
|
|
17:30 |
|
USD |
|
|
Interest Rate Decision |
0.25% |
|
0.25% |
|
|
|
|
17:30 |
|
USD |
|
|
FOMC Statement |
|
|
|
|
|
|
|
19:00 |
|
USD |
|
|
Federal Budget Balance |
-155.0B |
|
-69.6B |
|
|
|
|
19:15 |
|
USD |
|
|
Fed Chairman Bernanke Speaks |
|
|
|
Government Bond Auctions
Date and Country
Sep 11 00:30 Japan
Sep 11 08:30 Holland
Sep 11 09:10 Greece
Sep 11 09:30 UK
Sep 11 14:30 UK
Sep 11 17:00 US
Sep 12 09:10 Italy
Sep 12 09:10 Sweden
Sep 12 09:30 Germany
Sep 12 09:30 Swiss
Sep 12 14:30 Sweden
Sep 12 17:00 US
Sep 13 00:30 Japan
Sep 13 09:10 Italy
Sep 13 09:30 UK
Sep 13 15:00 US
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