Natural Gas Fundamental Analysis October 27, 2014 Forecast

Analysis and Recommendations:

Natural Gas  continued its downturn giving up 43 points to trade at 3.579 after this week’s inventory report showed a stronger climb in stocks than expected. Gas fell to a new low yesterday and continued to slide today falling past the 11 month low set yesterday.

Weather forecasting models showed a burst of cold air expected to arrive in early November will be milder than previously thought, likely leaving more natural-gas-fired heaters idle. The forecasts came in a lot warmer, said Aaron Calder, a senior analyst with energy consulting firm Gelber & Associates.

Futures had traded higher earlier in the day, after the Energy Information Administration reported stockpiles of the fuel rose by slightly less than traders were expecting.

Producers added 94 billion cubic feet of gas to storage for the week ended Oct. 17, the EIA said. The addition was 3 bcf short of the 97 bcf average expectations of 16 analysts and brokers in a survey by The Wall Street Journal. Last week’s rise was the fourth-largest addition ever for a week in October, according to EIA records going back to 1994, and showed stockpiles are well on their way to recovering in time for winter.

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:

 

Upcoming Economic Events that you should be monitoring:

Government Bond Auction

Date Time Country Auction

Oct 27 12:30 Germany Eur 2.0bn new 12M Bubill (Oct 2015) auction

Oct 27 18:30 Italy Announces details of BTP/CCTeu auctions on Oct 30

Oct 27 12:10 Italy BTPei/CTZ auctions

Oct 28 12:10 Italy BOT auction

Oct 28 19:00 US 2Y Note auction

Oct 29 12:03 Sweden Bond auction

Oct 29 12:30 Germany Eur 4.0bn Aug 2024 Bund auction

Oct 29 17:30 US 2Y FRN auction

Oct 29 19:00 US 5Y Note auction

Oct 30 12:10 Italy BTP/CCTeu auctions

Oct 30 19:00 US 7Y Note auction