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The main platinum contract fell 2.00% during the day, currently trading at 581.20 yuan/gram.January 9 (KCNA) – North Korean leader Kim Jong Un replied to Russian President Vladimir Putin on January 8, stating that North Korea will unconditionally respect and support all of Putins policies and decisions, and is willing to stand with Putin and Russia forever. In his letter, Kim Jong Un said, "Our close cooperation will continue as always, in accordance with the spirit of the comprehensive strategic partnership between North Korea and Russia, and in line with the strategic interests of both countries and the aspirations and desires of both peoples, in all aspects."Japanese Chief Cabinet Secretary Minoru Kihara: Italian Prime Minister Meloni will visit Japan from January 15 to 17.A chart summarizing the overnight price movements of international spot platinum and palladium.On January 9th, a research report from CITIC Securities stated that the Hang Seng Composite Index will undergo a new round of review on February 13th, with the adjustments officially taking effect on March 9th. The Hong Kong Stock Connect will also be adjusted accordingly. We expect 38 stocks to be included in the Hong Kong Stock Connect, with information technology, healthcare, materials, and consumer discretionary sectors having higher market capitalization weightings. A-shares and H-shares do not need to wait for periodic adjustments; they can be directly included in the Hong Kong Stock Connect after a price stabilization period. Therefore, one stock may have already been included before March 9th. We also suggest investors pay attention to timing opportunities between the Hang Seng Composite Index announcement date and the Hong Kong Stock Connect effective date. Furthermore, since some arbitrage funds may position themselves before the Hong Kong Stock Connect takes effect, while passive funds often adjust their positions on the trading day before the effective date, some less liquid stocks may experience a surge in trading volume at the end of the day.

Natural Gas Price News: XNG/USD prompts a three-day recovery near the monthly apex near $2.50 due to the strengthening of the US Dollar

Daniel Rogers

Apr 19, 2023 15:46

 截屏2022-11-08 下午5.39.10_1024x576.png

 

During the early hours of Wednesday morning in Europe, the price of natural gas (XNG / USD) reverses course from its greatest levels in a month to post modest losses of approximately $2.51. As a result, the energy instrument breaks a three-day winning stretch amid negative sentiment and the most recent dollar recovery.

 

Recent news articles concerning the US House China Committee's discussion of the Taiwan invasion scenario and a likely delay on the US debt ceiling decision appear to have agitated the risk profile. Recent unfavorable US data and hawkish Fed forecasts may be on the same trajectory. It should be noted that a divided earnings season influences sentiment and the price of Natural Gas.

 

In addition, Bloomberg released news indicating China's involvement in the Russia-Ukraine conflict, which, along with US President Joe Biden's reluctance to negotiate the debt limit, weighed on sentiment.

 

The recent decline in the XNG/USD price appears to be the result of a combination of factors, including reports that the United Kingdom has sufficient natural gas supplies to last through the winter and concerns about the likelihood of milder weather in the West. The Financial Times (FT) may have reported similar information: "The EU is storing record amounts of natural gas after a milder-than-expected winter, bolstering hopes that the bloc can wean itself off imports from Russia." According to the industry group Gas Infrastructure Europe, the bloc's storage capacity reached 55.7% at the beginning of the month, the highest level for early April since at least 2011.

 

In spite of this, the US Dollar Index (DXY) reverses its previous recovery from a one-year low and gains offers to 101.80 at the latest.

 

The previous day, the dollar index versus six main currencies reversed course in response to declining yields. In spite of this, US 10-year and 2-year Treasury bond coupons declined for the first time in four days by the end of Tuesday, hovering around 3.59 and 4.29 percent at the time of publication.

 

As a result of these trades, S&P 500 Futures have retreated from their greatest levels since early February, which were recorded the day before, and are currently trading near 4,178. Notable is the fact that the US stock futures ended their two-day winning trend with the most recent inactivity.

 

The news surrounding China and the US Federal Reserve (Fed), as well as the Fed Beige Book, can occupy Natural Gas traders until Thursday's release of weekly inventory data from the US Energy Information Administration (EIA).

 

 


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