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South Koreas Trade Minister: There will be no further market opening in the agricultural sector.Futures News, September 15th: London spot gold prices fluctuated higher on September 15th, reaching a new all-time high, up 1.59% on a weekly basis to $3,643.06 per ounce. Gold prices fluctuated at high levels during the week. While inflation data prompted a rate cut, the cut was already largely priced in. Meanwhile, US inflation remained contained, with no reflationary expectations. With the Federal Reserves interest rate cut expected next week, the market may react with caution, with increased short-term volatility and a degree of uncertainty surrounding the market. However, the macroeconomic logic for golds upward trend remains intact, and with renewed geopolitical uncertainty, buying on dips may remain the primary strategy. US Treasury Secretary Bensont stated that the US economy inherited by Trump is in worse shape than reported, and that the Federal Reserve should recalibrate interest rates. Fed Chairman Powell has again become a target of criticism from the Trump administration, with Trump again calling for a swift rate cut. The US August CPI was in line with expectations, while the PPI unexpectedly fell sharply. Combined with the dismal employment data, market expectations of a renewed US recession are swirling, making a 25 basis point interest rate cut by the Federal Reserve almost certain. Market focus is on whether the combination of low inflationary pressures and poor employment conditions will lead to more rate cuts, and the market is awaiting comments from Fed officials. Geopolitically, Israel attacked Hamas targets in Qatar this week. Russian government spokesman Dmitry Peskov stated on the 12th that peace talks between Russia and Ukraine have been suspended, but negotiators from both sides remain open to communication through existing channels.A Yomiuri Shimbun poll in Japan showed that in the Liberal Democratic Party election, Sanae Takaichi led with 29% support, while Shinjiro Koizumi had 25% support.1. The three major U.S. stock indices closed mixed, with the Dow Jones Industrial Average down 0.59%, the S&P 500 down 0.05%, and the Nasdaq up 0.44%, reaching new all-time highs. Merck and Sherwin-Williams fell over 2%, leading the Dow lower. The Wind US Tech 7 Index rose 1.14%, with Tesla up over 7% and Apple up over 1%. Chinese concept stocks were mixed, with JinkoSolar up over 6% and Douyu down over 4%. 2. U.S. Treasury yields rose across the board, with the 2-year Treasury yield up 0.99 basis points to 3.549%, the 3-year Treasury yield up 1.94 basis points to 3.527%, the 5-year Treasury yield up 3.81 basis points to 3.633%, the 10-year Treasury yield up 4.57 basis points to 4.070%, and the 30-year Treasury yield up 2.69 basis points to 4.681%. 3. International precious metal futures generally closed higher. COMEX gold futures rose 0.19% to $3,680.70 per ounce, a weekly gain of 0.75%. COMEX silver futures rose 1.26% to $42.68 per ounce, a weekly gain of 2.71%. 4. International oil prices rose slightly. The main contract for US crude oil closed up 0.37% at $62.60 per barrel, a weekly gain of 1.18%. The main contract for Brent crude oil rose 0.77% to $66.88 per barrel, a weekly gain of 2.11%. 5. London base metals rose across the board, with LME zinc futures up 1.93% at $2,956.00/ton, up 3.32% for the week; LME nickel futures up 1.52% at $15,380.00/ton, up 0.95% for the week; LME lead futures up 1.13% at $2,019.00/ton, up 1.71% for the week; LME aluminum futures up 1.03% at $2,701.00/ton, up 3.86% for the week; LME tin futures up 0.74% at $34,955.00/ton, up 1.87% for the week; and LME copper futures up 0.13% at $10,064.50/ton, up 1.69% for the week.Market News: South Koreas trade minister will visit the United States on Monday for tariff negotiations.

Daily Fundamental Natural Gas Price Forecast - EIA Report Anticipated to Show 82 Bcf Withdrawal

Daniel Rogers

Dec 02, 2022 15:40

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Natural gas futures are inching up on Thursday, just before the government's weekly storage report is released at 15:30 GMT.

 

Yesterday marked the fourth session in a row in which the market closed lower, as mixed weather forecasts continued to weigh on investor sentiment. Also in charge were sellers, as Freeport LNG continued to provide no indication of when the processing plant would resume operations.

 

You should only trade with capital that you can afford to lose while trading derivatives. The trading of derivatives may not be suitable for all investors; thus, you should ensure that you fully comprehend the risks involved and, if necessary, seek independent counsel. Before entering into a transaction with us, a Product Disclosure Statement (PDS) can be received through this website or upon request from our offices and should be reviewed. Raw Spread accounts offer spreads as low as 0 pips and a commission rate of $3.50 per 100,000 USD traded. Spreads on standard accounts begin at 1 pip with no additional commission fees. CFD index spreads begin at 0.4 points. This information is not intended for inhabitants of any country or jurisdiction where distribution or use would violate local law or regulation.

 

In addition, the U.S. House of Representatives decided to prevent a nationwide train strike. A few of the weaker speculators, who had wagered that the strike would raise demand, liquidated their long holdings in response to this news.

 

At 11:53 GMT, natural gas futures for January are trading at $7.042, up $0.112 or 1.62 percent. Wednesday's closing price for the United States Natural Gas Fund ETF (UNG) was $21.23, down $0.91, or -4.11%.

 

According to NatGasWeather for December 1-7, "stronger national demand today through Friday in the aftermath of a frigid weather system that swept through the United States with lows in the 0s to 20s in the north and high 20s to 40s in the south, including 30s in deep Texas and the South."

 

Despite fresh cold injections into the Northwest and Northern Plains with rain, snow, and lows in the 0s to 30s, a milder pattern will return to the southern and eastern U.S. this weekend through early next week, with highs in the 50s to 70s for lighter national demand.

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