Natural Gas Fundamental Analysis September 27, 2012 Forecast

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Analysis and Recommendations:

Natural Gas climbed no skyrockets to trade at 3.1705 today ahead of this week’s inventory reports. US gas futures rose early on Tuesday, lifted by nuclear power plant outages that have boosted near-term demand.

Qatari state-backed natural gas producer Qatar gas says it has signed a long-term supply deal with a Japanese power company as the Asian nation increasingly relies on fossil fuels after a nuclear meltdown last year.

Qatar gas said Wednesday the deal with Kansai Electric Power Company covers shipments of half a million tons of liquefied natural gas annually for 15 years, beginning next year. Financial details were not disclosed.

Qatar is the largest producer of LNG. KEPCO will get its gas from the Gulf nation’s Qatar gas 3 division, in which ConocoPhilips owns a 30 percent stake.

Japan is the top importer of LNG. Demand for the oil and gas has soared in Japan because the bulk of its nuclear plants remain offline after a disaster at the Fukushima Dai-ichi nuclear plant following a devastating earthquake.

The natural gas rotary rig count, as reported by Baker Hughes on September 14, fell by 4 to 448 active units.

Meanwhile, Israel held discussions with the Palestinian Authority (PA) regarding plans to develop a gas field off the coast of the blockaded Gaza Strip.

Prepared for a gathering of donors to the PA, the report, released on Sunday, said initial negotiations on the controversial issue have already begun.

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 September 26, 2012 actual v. forecast

Date

 

Currency

 

 

Event

Actual

 

Forecast

 

Previous

Sep. 26

 

NOK

 

 

Norwegian Unemployment Rate 

3.00%

 

3.00% 

 

3.10% 

 

 

EUR

 

 

German 10-Year Bund Auction 

1.520%

 

 

 

1.420% 

 

 

GBP

 

 

CBI Distributive Trades Survey 

6

 

 

-3 

 

 

EUR

 

 

German CPI (MoM) 

0.0%

 

0.0% 

 

0.4% 

 

 

EUR

 

 

German CPI (YoY) 

2.0%

 

2.0% 

 

2.1% 

 

 

USD

 

 

New Home Sales 

373K

 

380K 

 

372K 

 

WEEKLY

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

Date

Time

Currency

Event

Forecast

Previous

Sep. 27 

08:55

EUR

German Unemployment Change 

10K 

9K 

 

09:30

GBP

Business Investment (QoQ) 

-1.5% 

-1.5% 

 

09:30

GBP

Current Account 

-12.4B 

-11.2B 

 

09:30

GBP

GDP (QoQ) 

-0.5% 

-0.5% 

 

09:30

GBP

GDP (YoY) 

-0.5% 

-0.5% 

 

13:30

USD

Core Durable Goods Orders (MoM) 

0.3% 

-0.6% 

 

13:30

USD

Durable Goods Orders (MoM) 

-5.0% 

4.1% 

 

13:30

USD

Initial Jobless Claims 

378K 

382K 

 

13:30

USD

GDP (QoQ) 

1.7% 

1.7% 

 

13:30

USD

Continuing Jobless Claims 

3285K 

3272K 

 

15:00

USD

Pending Home Sales (MoM) 

-0.7% 

2.4% 

Government Bond Auction

Date Time Country 

Sep 27 00:30 Japan 

Sep 27 09:10 Italy  

Sep 27 17:00 US 

 

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About: FX Empire Analyst - Barry Norman

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