Natural Gas Weekly Fundamental Analysis, October 27-31, 2014, Forecast

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Updated: Aug 25, 2015, 03:00 UTC

Weekly Analysis and Recommendation: Natural Gas recovered a few points on Friday after falling all week to touch 2014 lows. Natural gas is trading at

Natural Gas Weekly Fundamental Analysis, October 27-31, 2014, Forecast

Weekly Analysis and Recommendation:

Natural Gas recovered a few points on Friday after falling all week to touch 2014 lows. Natural gas is trading at 3.629. Natural gas continues to trade weak after the weekly inventory data released yesterday showed fourth-largest additions ever for a week in October.

The Energy Information Agency data released yesterday showed an addition of 94 billion cubic feet of gas to storage for the week ended Oct. 17, compared to the expectation of 97 billion cubic feet. The commodity did recover from the low of USD 3.59 Thursday although it proved to be a dead-cat bounce since prices are back to the same level at the end of the week.

Traders are keeping a close watch on the EIA’s updates to gauge how quickly stockpiles are filling up after increased demand last winter left them at an 11-year low.

Prices have fallen in seven of the last eight trading days, weighed by record production. Demand, meanwhile, has been tempered by unusually warm weather in what is already typically a seasonal lull in natural-gas use.

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 recent analysis and information in our weekly reports and we provide daily updates and outlooks.

Historical: From 2011 to Present

Highest: 6.49 – February 2014

Average: 3.307 over this period

Lowest: 1.902 on Apr 20, 2012

Economic Events: (GMT)

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)

Major Economic Events for the week of October 27-31st

Time	Cur.	Imp.	Event	Actual	Forecast	Previous
Monday, October 27
		Holiday	New Zealand – Labour Day
	EUR		German Ifo Business Climate Index (Oct)		104.3	104.7
	USD		Pending Home Sales (MoM) (Sep)		0.5%	-1.0%
Tuesday, October 28
	USD		Core Durable Goods Orders (MoM) (Sep)		0.5%	0.4%
	USD		CB Consumer Confidence (Oct)		87.0	86.0
Wednesday, October 29
	NZD		Interest Rate Decision		3.50%	3.50%
Thursday, October 30
	EUR		German Unemployment Change (Oct)		5K	13K
	USD		GDP (QoQ) (Q3)		3.0%	4.6%
Friday, October 31
	EUR		CPI (YoY) (Oct)		0.4%	0.3%
	CAD		GDP (MoM) (Aug)