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Natural Gas Fundamental Analysis September 12, 2013 Forecast
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Analysis and Recommendations: Natural Gas traded higher this morning but gave back gains to close end at 3.577 down by 7 points. Weather forecast across
Analysis and Recommendations:
Natural Gas traded higher this morning but gave back gains to close end at 3.577 down by 7 points. Weather forecast across the US predicted a few more days of higher temperatures before fall weather sets in. Traders are sitting tight ahead of tomorrow’s EIA inventory. NYMEX Natural Gas prices decreased by 0.58 percent in yesterday’s trading session on the back of milder weather forecast for late this week and next week. However, sharp downside in the prices was cushioned on the back of weakness in DX. The U.S. Energy Information Administration on Tuesday slightly raised its estimate for 2013 domestic natural gas production, which up nearly 1 percent from 2012’s record high levels. In its September Short-Term Energy Outlook, the EIA said it expected marketed natural gas production in 2013 to rise by 0.73 billion cubic feet per day to 69.91 bcf per day, up fractionally from its August outlook of 69.89 bcf daily.
Traders can expect NYMEX Natural gas prices to trade on the negative note on the back of milder weather forecast coupled with expectation of rise in US natural gas Inventories from EIA. However, weakness in Dollar Index may cushion sharp fall in the prices
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.
Economic Data September 11, 2013 actual v. forecast
|
Date |
|
Currency |
|
|
Event |
Actual |
|
Forecast |
|
Previous |
|
|
|
Sep. 11 |
|
KRW |
|
|
South Korean Unemployment Rate |
3.1% |
|
3.2% |
|
3.2% |
|
|
|
|
|
JPY |
|
|
BSI Large Manufacturing Conditions |
15.2 |
|
7.2 |
|
5.0 |
|
|
|
|
|
JPY |
|
|
CGPI (MoM) |
0.3% |
|
0.4% |
|
0.5% |
|
|
|
|
|
AUD |
|
|
Westpac Consumer Sentiment |
4.70% |
|
|
|
3.50% |
|
|
|
|
|
EUR |
|
|
French Non-Farm Payrolls (QoQ) |
-0.2% |
|
-0.2% |
|
-0.2% |
|
|
|
|
|
EUR |
|
|
German CPI (MoM) |
0.0% |
|
0.0% |
|
0.0% |
|
|
|
|
|
EUR |
|
|
German CPI (YoY) |
1.5% |
|
1.5% |
|
1.5% |
|
|
|
|
|
HUF |
|
|
Hungarian CPI (YoY) |
1.3% |
|
1.7% |
|
1.8% |
|
|
|
|
|
GBP |
|
|
Average Earnings Index +Bonus |
1.1% |
|
1.2% |
|
2.2% |
||
|
|
|
GBP |
|
|
Claimant Count Change |
-32.6K |
|
-22.0K |
|
-36.3K |
||
|
|
|
EUR |
|
|
German 10-Year Bund Auction |
2.060% |
|
|
|
1.800% |
|
|
|
|
|
EUR |
|
|
Portuguese CPI (YoY) |
0.2% |
|
0.6% |
|
0.8% |
|
|
|
|
|
PLN |
|
|
Polish Current Account (EUR) |
-178.00 |
|
-11.00 |
|
574.00 |
Upcoming Economic Events that affect the CHF, EUR, GBP, CAD and USD
|
Date |
Time |
Currency |
Event |
Forecast |
Previous |
|
Sep. 12 |
07:45 |
EUR |
-0.3% |
||
|
|
08:00 |
EUR |
1.5% |
1.8% |
|
|
|
09:00 |
EUR |
-2.5% |
-2.1% |
|
|
|
10:00 |
EUR |
0.1% |
0.7% |
|
|
|
10:00 |
EUR |
-0.1% |
0.3% |
|
|
|
13:30 |
USD |
0.4% |
0.2% |
|
|
|
13:30 |
USD |
328K |
323K |
|
|
|
13:30 |
USD |
2960K |
2951K |
|
|
|
19:00 |
USD |
-152.0B |
-97.6B |
Government Bond Auction
Date Time Country
Sep 12 09:10 Sweden
Sep 12 09:30 UK
Sep 12 15:00 US
Sep 12 15:30 Italy
Sep 12 17:00 US
Sep 13 10:00 Belgium
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)
About the Author
Barry Normanauthor
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