Natural Gas Fundamental Analysis October 29, 2014 Forecast

By:

Updated: Aug 25, 2015, 03:00 UTC

Analysis and Recommendations: Natural Gas added 13 points as artic cold temperatures blanketed Canada and might just ease across into the US. Natural gas

Natural Gas Fundamental Analysis October 29, 2014 Forecast

Analysis and Recommendations:

Natural Gas added 13 points as artic cold temperatures blanketed Canada and might just ease across into the US. Natural gas is trading at 3.651. Goldman has slashed its 2015 forecasts as Middle Eastern oil producers such as Saudi Arabia have kept up supplies to try to fend off competition from the upstart US shale oil and gas industry.

Weather forecasts indicate an above-normal temperature formation over much of the Midwest and stretching as far south as Texas as late as Nov. 10, after a brief cold front over the weekend and next week. What is more, the new warm forecasts suggest the U.S. could continue producing and stockpiling gas until well into November, long past the point at which the country usually begins drawing on supplies to heat homes and offices during the chilly months.

As of last week’s official government data, the U.S. had nearly 3.4 trillion cubic feet of gas in storage, about on par with the 3.5 trillion estimates that analysts believe is adequate to get through the fall and winter heating season. The U.S. began the spring and summer gas-production season in 55% below average levels, the lowest level in 11 years, but robust production from domestic shale formations helped rebuild inventories quickly.

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
JPY	Retail Sales (YoY) (Sep)	2.3%	0.6%	1.2%
USD	Core Durable Goods		0.5%	0.4%
USD	Durable Goods Orders		0.5%	-18.4%
USD	S&P/CS HPI Composite –		5.8%	6.7%
USD	CB Con. Confidence		87.0	86.0

Upcoming Economic Events that you should be monitoring:

Time	Cur.	Imp.	Event	Actual	Forecast	Previous
	JPY		Industrial Production		2.2%	-1.9%
	NZD		Business Confidence			13.4%
	CAD		RMPI (MoM) (Sep)		-1.0%	-2.2%
	USD		FOMC Statement
	USD		Fed Funds Target Rate		0.25%	0.25%