Natural Gas Fundamental Analysis December 18, 2012, Forecast

Analysis and Recommendations:

Natural Gas is trading at 3.343 up by 0.029pts today as traders took advantage of the huge declines in prices to bottom feed. Gas gained as much as 1.9 percent after Commodity Weather Group LLC in Bethesda, Maryland, predicted colder-than-usual weather across most of the lower 48 states from Dec. 27 through Dec. 31. Earlier outlooks forecast above-average temperatures on the East Coast. Prices settled at an 11-week low of $3.314 per million British thermal units on Dec. 14. About 50 percent of U.S. households use gas for heating, Energy Department data show.

Gas inventories rose 2 billion cubic feet in the week ended Dec. 7 to 3.806 trillion cubic feet, the Energy Department reported Dec. 13. It was the latest seasonal supply gain since the week ended Dec. 30, 2005, according to department data compiled by Bloomberg.

Supplies were 8 percent above the five-year average, compared with 4.6 percent the previous week. The gas inventory surplus to the average has declined from a six-year high of 61 percent in March, department data show.

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 December 17, 2012 actual v. forecast

 

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

Government Bond Auction

Date Time Country 

Dec 18 01:30 Japan 

Dec 18 09:30 Spain 

Dec 18 10:10 Greece 

Dec 18 18:00 US 

Dec 19 18:00 US 

Dec 20 10:30 UK 

Dec 20 16:30 Italy  

Dec 20 18:00 US 

Dec 21 16:30 Italy