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June 11th - Daniela Hathorn, Senior Market Analyst at Capital.com, stated that the market widely expects the European Central Bank (ECB) to raise interest rates at its meeting tonight. The importance of this meeting lies not only in the interest rate decision itself, but also in ECB President Lagardes articulation of future policy direction. The market will closely watch how the ECB defines the June rate adjustment – whether it will be seen as a one-off adjustment or the start of a broader tightening cycle. If the ECB does not rule out further rate hikes, the euro may find support, especially given the markets perception of a more cautious approach from the Federal Reserve. A hawkish stance from the ECB would improve the interest rate differential between the euro and currencies of central banks more cautious in tightening. However, if investors believe that tightening will exacerbate Europes already fragile economic growth prospects, the euros upside potential may be limited.June 11th - TD Securities analysts stated that the European Central Bank (ECB) appears poised to raise interest rates by 25 basis points to 2.25% due to accelerating inflation and the potential for energy-related pressures to spill over into core and service prices. The market seems to view the June rate hike as not a one-off move, but rather the beginning of a limited tightening policy, with a roughly 65% probability of another rate hike in September and the possibility of action by December already fully priced in. Given the widespread inflation concerns, we believe this view is reasonable: rising energy costs are pushing up overall inflation, and these pressures could ripple through service prices, wages, and expectations. Therefore, if upcoming data confirms that underlying inflation is not easing quickly enough, the likelihood of another rate hike in September is high.Nasdaq 100 futures extended gains to 1%, Dow Jones futures rose 0.66%, and S&P 500 futures gained 0.74%.German Chancellor Merz: Proposing Ukraines accession to the EU means that Ukraine will participate in EU Council meetings and Ministerial Council meetings, but Ukraine will not have voting rights.June 11 – Foreign Ministry Spokesperson Lin Jian held a regular press conference on June 11. According to the Financial Times, China has cancelled its high-level meeting with the EU this month due to escalating trade tensions. What is the spokespersons view on this? Furthermore, will Commerce Minister Wang Wentao still visit the EU later this month as reported? Lin Jian stated that regarding your first question, as far as we know, China and the EU are maintaining communication on relevant dialogues. Regarding your second question, I suggest you inquire with the relevant Chinese authorities.

Following the EIA Inventory Report, Natural Gas Prices Consolidate

Larissa Barlow

Apr 22, 2022 10:01

Natural gas prices increased marginally on Thursday in response to the release of the Department of Energy's inventory report. LNG demand continues to grow, as do natural gas arrivals at LNG terminals. Five of the last six days have had pressures exceeding 12.27 Bcf. For the next two weeks, the East coast and midwest are likely to experience cooler temperatures than typical.

 

Natural gas in storage was estimated to be 1,450 Bcf as of Friday, April 15, 2022, per the EIA. Stockpiles increased by a net 53 Bcf over the previous week. The target was a 40 Bcf construct. At this point in the year, stocks were 428 Bcf lower than last year and 292 Bcf lower than the five-year average of 1,742 Bcf. The entire operating gas volume, at 1,450 Bcf, is within the five-year historical range.

 

Technical Evaluation

 

Natural gas prices increased slightly on Thursday but fell to a new low. Support on a short-term basis is located near the 10-day moving average of 6.91. Additional support is located near the top of the most recent range, at the 5.57 February highs. Near the April highs of 8.06, the target resistance is visible.

 

The short-term momentum has flipped and become negative as a crossover sell signal was triggered by the fast stochastic. Both the quick stochastic and the relative strength index have declined out of overbought territory.

 

The medium-term momentum has shifted to the positive side but is now decelerating. The MACD (moving average convergence divergence) histogram is positive with a falling trend, indicating consolidation.

 

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