Natural Gas Fundamental Analysis September 7, 2012, Forecast
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Analysis and Recommendations:
Natural Gas is trading at 2.795 just about even for the day. The EIA inventory stated today “Working gas in storage was 3,402 Bcf as of Friday, August 31, 2012, according to EIA estimates. This represents a net increase of 28 Bcf from the previous week. Stocks were 395 Bcf higher than last year at this time and 329 Bcf above the 5-year average of 3,073 Bcf. In the East Region, stocks were 93 Bcf above the 5-year average following net injections of 34 Bcf. Stocks in the Producing Region were 174 Bcf above the 5-year average of 943 Bcf after a net withdrawal of 7 Bcf. Stocks in the West Region were 61 Bcf above the 5-year average after a net addition of 1 Bcf. At 3,402 Bcf, total working gas is above the 5-year historical range.”
With all the market hoopla today, traders seemed to just ignore NG.
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 6, 2012 actual v. forecast
|
Date |
|
Currency |
|
|
Event |
Actual |
|
Forecast |
|
Previous |
|
|
|
Sep. 06 |
|
KRW |
|
|
South Korean GDP (QoQ) |
0.3% |
|
0.4% |
|
0.4% |
|
|
|
|
|
AUD |
|
|
Employment Change |
-8.8K |
|
5.0K |
|
11.7K |
||
|
|
|
AUD |
|
|
Unemployment Rate |
5.1% |
|
5.3% |
|
5.2% |
|
|
|
|
|
JPY |
|
|
BoJ Governor Shirakawa Speaks |
|
|
|
|
|
|
|
|
|
|
GBP |
|
|
Halifax House Price Index (MoM) |
-0.4% |
|
0.3% |
|
-0.7% |
||
|
|
|
EUR |
|
|
GDP (QoQ) |
-0.2% |
|
-0.2% |
|
-0.2% |
|
|
|
|
|
EUR |
|
|
German Factory Orders (MoM) |
0.5% |
|
0.2% |
|
-1.6% |
||
|
|
|
GBP |
|
|
Interest Rate Decision |
0.50% |
|
0.50% |
|
0.50% |
|
|
|
|
|
GBP |
|
|
BOE QE Total |
375B |
|
375B |
|
375B |
|
|
|
|
|
EUR |
|
|
Interest Rate Decision |
0.75% |
|
0.75% |
|
0.75% |
|
|
|
|
|
USD |
|
|
ADP Nonfarm Employment Change |
201K |
|
140K |
|
173K |
||
|
|
|
USD |
|
|
Initial Jobless Claims |
365K |
|
370K |
|
377K |
||
|
|
|
EUR |
|
|
ECB Press Conference |
|
|
|
|
|
|
|
|
|
|
USD |
|
|
Continuing Jobless Claims |
3322K |
|
3315K |
|
3328K |
||
|
|
|
USD |
|
|
ISM Non-Manufacturing Index |
53.7 |
|
52.5 |
|
52.6 |
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 that affect the CHF, EUR, GBP and USD
|
Date |
Time |
Currency |
Event |
Forecast |
Previous |
|
Sep. 07 |
00:01 |
GBP |
-24% |
-24% |
|
|
|
09:30 |
GBP |
1.5% |
-2.5% |
|
|
|
09:30 |
GBP |
2.0% |
-2.9% |
|
|
|
09:30 |
GBP |
1.7% |
1.3% |
|
|
|
09:30 |
GBP |
1.2% |
-2.4% |
|
|
|
09:30 |
GBP |
-2.8% |
-4.3% |
|
|
|
11:00 |
EUR |
0.2% |
-0.9% |
|
|
|
13:30 |
USD |
0.2% |
0.1% |
|
|
|
13:30 |
USD |
124K |
163K |
|
|
|
13:30 |
USD |
34.5 |
34.5 |
|
|
|
13:30 |
USD |
142K |
172K |
Government Bond Auction
Date Time Country
Sep 07 15:30 Italy
Sep 10 09:30 Germany
Sep 10 15:30 Italy
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
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