Natural Gas Fundamental Analysis October 6, 2014 Forecast

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Updated: Aug 24, 2015, 22:00 UTC

Analysis and Recommendations: Natural Gas gained 58 points to trade at 3.99 as traders pay little attention to the EIA inventory report on Thursday

Natural Gas Fundamental Analysis October 6, 2014 Forecast

Natural Gas Fundamental Analysis October 7, 2014 Forecast

Analysis and Recommendations:

Natural Gas gained 58 points to trade at 3.99 as traders pay little attention to the EIA inventory report on Thursday evening. The U.S. Energy Information Administration (EIA) reported Thursday morning that U.S. natural gas stocks increased by 112 billion cubic feet for the week ending September 26. That compared with an expected increase of about 107 billion cubic feet anticipated by analysts. The five-year average injection for the week is 85 billion cubic feet.

Stockpiles are about 10.7% below their levels of a year ago and about 11.4% below the five-year average. The rise in U.S. stockpiles is still on course for a record April through October injection. The start of the heating season is still expected to see U.S. stockpiles at around 3.55 trillion cubic feet, the lowest level since 2008 but still adequate. Last year’s injection season ended with 3.8 trillion cubic feet in inventory.

Natural gas prices got something of a boost earlier this week on forecasts for cooler weather in the eastern half of the United States, but the drop in temperature is now expected to be lower than originally thought.

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
AUD	HIA New Home Sales	3.3%		-5.7%
CNY	Non-Manufacturing PMI	54.0		54.4
EUR	Spanish Services PMI	55.8	57.1	58.1
EUR	Italian Services PMI	48.8	49.6	49.8
EUR	French Services PMI	48.4	49.4	49.4
EUR	German Services PMI	55.7	55.4	55.4
EUR	Services PMI (Sep)	52.4	52.8	52.8
GBP	Services PMI (Sep)	58.7	59.1	60.5
EUR	Retail Sales (MoM)	1.2%	0.1%	-0.4%
USD	Nonfarm Payrolls (Sep)		215K	142K
USD	Private Nonfarm		210K	134K
USD	Trade Balance (Aug)		-40.90B	-40.60B
USD	Unemployment Rate		6.1%	6.1%