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Natural Gas Fundamental Analysis October 9, 2014 Forecast

By:
Barry Norman
Updated: Aug 24, 2015, 23:00 UTC

Analysis and Recommendations: Natural Gas  tumbled 61 points as the cooler weather never materialized and warmer temperatures might be in the near term.

Natural Gas Fundamental Analysis October 9, 2014 Forecast
Natural Gas Fundamental Analysis October 9, 2014 Forecast
Natural Gas Fundamental Analysis October 9, 2014 Forecast

Analysis and Recommendations:

Natural Gas  tumbled 61 points as the cooler weather never materialized and warmer temperatures might be in the near term. Natural gas is trading at 3.896 ahead of tomorrow’s EIA inventory report. Traders maintained a bearish bias in the commodity on expectations that warmer to largely normalized temperatures were seen in much of US Western and North-Central region which might continue to keep demand for the commodity subdued in coming days As per Bloomberg news, WSI Corp earlier said temperatures would be mostly normal or higher than usual in the lower 48 states from Oct. 11 through Oct. 15. On additional negative note, EIA in its STEO said, Households relying on NG will see heating costs drop 4.6% to $649 as compared to previous winter. Continued higher supplies are expected to keep a lid over the commodity in coming winter. U.S. natural gas futures gained 1.5 percent on Tuesday on technical buying and despite forecasts calling for milder-than-normal temperatures over the next two weeks.

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

 

Adjusted Current

0.13T

0.19T

0.10T

 

 

  JPY

 

Current Account n.s.a.

0.287T

0.198T

0.417T

 

 

  CNY

 

HSBC Services PMI

53.5

53.8

54.1

 

 

  JPY

 

BoJ Monthly Report

 

 

 

 

 

  GBP

 

Halifax House Price

9.6%

9.6%

9.7%

 

 

  GBP

 

Halifax House Price

0.6%

0.2%

0.0%

 

 

  CAD

 

Housing Starts

 

196.0K

192.4K

 

 

  USD

 

FOMC Meeting Minutes 

 

 

 

 

 

Natural Gas(15 minutes)20141008121614

Upcoming Economic Events that you should be monitoring:

 

Cur.

 

Event

Actual

Forecast

Previous

 

  GBP

 

RICS House Price Bal.

 

38%

40%

 

 

  AUD

 

Employment Change

 

-30.0K

121.0K

 

 

  AUD

 

Full Employment

 

 

14.3K

 

 

  AUD

 

Unemployment Rate

 

6.2%

6.1%

 

 

  EUR

 

German Trade Balance

 

18.5B

22.2B

 

 

  EUR

 

ECB Monthly Report  

 

 

 

 

 

  GBP

 

Interest Rate Decision

 

0.50%

0.50%

 

 

  USD

 

Initial Jobless Claims

 

294K

287K

 

 

  CAD

 

New Housing Price

 

0.2%

0.0%

 

 

  EUR

 

ECB President Draghi  

 

 

 

 

Government Bond Auction

Date Time Country Auction

Oct 08 09:30 Germany Eur 4.0bn Oct 2019 Bobl auction

Oct 08 09:30 Swiss Bond auction (for decision)

Oct 08 15:30 Italy Announces details of BTP

Oct 08 17:00 US 10Y Note auction

Oct 09 09:03 Sweden I/L bond auction

Oct 09 17:00 US 30Y bond auction

Oct 10 09:10 Italy BOT auction

 

 

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