Analysis and Recommendations: Natural Gas has been all over the map this week gaining on the threat of cold air flowing from Canada and then a shift in
Analysis and Recommendations:
Natural Gas has been all over the map this week gaining on the threat of cold air flowing from Canada and then a shift in the weather forecast to warmer temperatures. Natural gas is trading at 3.715 down by 32 points as traders focus on tomorrows EIA inventory report. The U.S. natural gas industry is gathering steam amid changes and challenges that are remaking the business, according to a new report from Black & Veatch.
Last year the Overland Park firm’s annual report on the industry described a cautious optimism about likely growth because of the trove of natural gas being recovered from shale formations in the United States. The updated report released this week strikes a more confident tone, flatly stating that the industry is gaining traction. More and more electric utilities are building natural gas plants when they retire coal-fired plants. And natural gas could soon be exported to other countries. A federal proposal to reduce greenhouse gases is giving a further boost to natural gas, which burns cleaner than coal.
Weather forecasts have turned more negative for natural gas, a key component in home heating and electricity generation for which demand rises when temperatures fall. After isolated cold pockets over the northern Midwest and the Northeast in the coming days, much of the Midwest and the Eastern Seaboard will see above-normal temperatures that are projected to continue into the middle of next month.
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 |
|
||
|
JPY |
Industrial Production |
2.7% |
2.2% |
-1.9% |
|
|
NZD |
Business Confidence |
26.5% |
|
13.4% |
|
|
CAD |
RMPI (MoM) (Sep) |
|
-1.0% |
-2.2% |
|
|
USD |
FOMC Statement |
|
|
|
|
|
USD |
Fed Funds Target Rate |
|
0.25% |
0.25% |
Upcoming Economic Events that you should be monitoring:
Cur. |
Event |
Actual |
Forecast |
Previous |
|||
|
NZD |
RBNZ Rate Statement |
|
|
|
|
|
|
AUD |
HIA New Home Sales |
|
|
3.3% |
|
|
|
GBP |
Nationwide HPI (MoM) |
|
0.3% |
-0.2% |
|
|
|
GBP |
MPC Member Cunliffe |
|
|
|
|
|
|
EUR |
Spanish GDP (QoQ) |
|
0.5% |
0.6% |
|
|
|
EUR |
German Unemployment |
|
5K |
13K |
|
|
|
EUR |
German Unemployment |
|
6.7% |
6.7% |
|
|
|
USD |
GDP (QoQ) (Q3) |
|
3.0% |
4.6% |
|
|
|
USD |
GDP Price Index (QoQ) |
|
2.0% |
2.1% |
|
|
|
USD |
Initial Jobless Claims |
|
283K |
283K |
|
|
|
USD |
Fed Chair Yellen |
|
|
|
|
|
|
EUR |
German CPI (MoM) |
|
-0.1% |
0.0% |
Government Bond Auction
Date Time Country Auction
Oct 29 10:03 Sweden Sek 3.5bn 5.0% Dec 2020 bonds
Oct 29 10:30 Germany Eur 4.0bn Aug 2024 Bund auction
Oct 29 15:30 US Usd 15bn 2Y FRNs
Oct 29 17:00 US Usd 35bn 5Y Notes
Oct 30 10:10 Italy BTP/CCTeu auctions
Oct 30 17:00 US Usd 29bn 7Y Notes
Nov 03 10:00 Norway T-bill auction
Nov 04 10:15 Austria RAGB auction
Nov 04 10:30 Belgium 3 & 6M T-bill auction (Feb & Apr 2015)
Nov 04 10:30 UK Auctions 0.5% 2050 I/L Gilt
Nov 05 10:30 Germany Eur 4.0bn Oct 2019 Bobl auction
Nov 06 09:30 Spain Bono/Obligacion auction
Nov 06 10:03 Sweden I/L bond auction
Nov 06 11:00 Norway Announces details of bond auction on Nov 11
Nov 07 16:30 Italy Announces details of BOT auction on Nov 12