Natural Gas Fundamental Analysis October 17, 2014 Forecast

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Updated: Aug 25, 2015, 01:00 UTC

Analysis and Recommendations: Natural Gas gained 9 points ahead of today’s inventory as the outlook for a freezing winter gathered support as cold

Natural Gas Fundamental Analysis October 17, 2014 Forecast

Analysis and Recommendations:

Natural Gas gained 9 points ahead of today’s inventory as the outlook for a freezing winter gathered support as cold temperatures from Eurasia move to the US. Natural gas is trading at 3.809 well under its support level. With winter fast-approaching, scientists are turning their attention to the snow-covered tundra of Siberia and the waters of the Pacific Ocean for their first hints of what Mother Nature may have in store for the United States, and in turn, New Jersey, for the months ahead.

A significant amount of climatological evidence points to New Jersey once again enduring a stormy and cold winter. Accuweather, first out of the gate with a winter forecast today, predicted as much, arguing that while it won’t be as brutally cold as the winter of 2013-2014, below average temperatures and plenty of storminess are in the offing for the northeast.

But while the accuracy of more specific long-term weather forecasts remains mediocre, global climatology can offer some meaningful history lessons to draw from.

Cheap and plentiful natural gas isn’t quite a bridge to a brighter energy future as claimed and won’t slow global warming, a new study projects. Abundant natural gas in the United States has been displacing coal, which produces more of the chief global warming gas carbon dioxide.

But the new international study says an expansion of natural gas use by 2050 would also keep other energy-producing technologies like wind, solar and nuclear, from being used more. And those technologies are even better than natural gas for avoiding global warming.

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.

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)

Today’s economic releases actual vs. forecast:

Cur.	Event	Actual	Forecast	Previous
CNY	New Loans	857.2B	750.0B	702.5B
EUR	Core CPI (YoY) (Sep)	0.8%	0.7%	0.9%
EUR	CPI (MoM) (Sep)	0.4%	0.4%	0.1%
EUR	CPI (YoY) (Sep)	0.3%	0.3%	0.3%
USD	Initial Jobless Claims	264K	290K	287K
CAD	Foreign Securities	10.28B	4.31B	5.20B
CAD	Manufacturing Sales	-3.3%	-2.0%	2.9%
USD	Industrial Production		0.4%	-0.1%
USD	Philadelphia Fed Index		20.0	22.5

Upcoming Economic Events that you should be monitoring:

Cur.	Imp.	Event	Actual	Forecast	Previous
USD		Building Permits (Sep)		1.029M	1.003M
USD		Building Permits (MoM)		2.8%	-5.6%
USD		Fed Chair Yellen Speaks
USD		Housing Starts (MoM)		4.8%	-14.4%
USD		Housing Starts (Sep)		1.004M	0.956M
CAD		Core CPI (MoM) (Sep)		0.1%	0.5%
CAD		Core CPI (YoY) (Sep)		2.0%	2.1%
CAD		CPI (MoM) (Sep)		0.0%	0.0%
USD		Michigan Consumer		74.4	75.4
USD		Michigan Consumer		84.1	84.6