Natural Gas Monthly Fundamental Forecast August 2012

Posted August 03, 2012 8:27 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
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Outlook and Recommendation

Natural Gas ended the month on a high note as electricity consumption in the US peaked on hot temperatures throughout the country. June was reported to be the hottest June in history and July followed in that path. With electricity consumption skyrocketing, the demand for gas also skyrockets as producers use NG for the excess capacity.

Highest: 3.276	Lowest: 2.720	Difference: 0.557	Average: 2.961	Change %: 14.13

Natural gas consumed for power generation (power burn) increased for the month by more than 5 percent.

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 recent analysis and information in our weekly reports and we provide daily updates and outlooks.

Natural Gas Inventory (EIA)

Working gas in storage was 3,217 Bcf as of Friday, July 27, 2012, according to EIA estimates. This represents a net increase of 28 Bcf from the previous week. Stocks were 472 Bcf higher than last year at this time and 407 Bcf above the 5-year average of 2,810 Bcf. In the East Region, stocks were 148 Bcf above the 5-year average following net injections of 30 Bcf. Stocks in the Producing Region were 172 Bcf above the 5-year average of 941 Bcf after a net withdrawal of 6 Bcf. Stocks in the West Region were 87 Bcf above the 5-year average after a net addition of 4 Bcf. At 3,217 Bcf, total working gas is above the 5-year historical range

Economic events for the month of August affecting USD

Date	Time	Currency	Event	Forecast	Previous
Aug 1	12:15	USD	ADP Non-Farm Employment Change	122K	176K
	14:00	USD	ISM Manufacturing PMI	50.4	49.7
	18:15	USD	FOMC Statement
Aug 2	12:30	USD	Unemployment Claims	375K	353K
Aug 3	12:30	USD	Non-Farm Employment Change	101K	80K
	12:30	USD	Unemployment Rate	8.2%	8.2%
	14:00	USD	ISM Non-Manufacturing PMI	52.2	52.1

WEEKLY

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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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