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On January 22nd, a research report from CITIC Securities pointed out that the USD/CNY exchange rate has also continued to rise recently. Given the still strong willingness to settle foreign exchange in the short term, and the fact that the beginning of each year is a major window for RMB appreciation, it cannot be ruled out that the RMB will continue to rise before the Spring Festival, releasing appreciation pressure. The combination of falling US Treasury yields and a strengthening RMB will put considerable pressure on current US Treasury holdings. However, after entering March, US Treasury yields and the RMB exchange rate may simultaneously peak, at which time a more ideal buying opportunity will be provided.The founder of the US car trading platform TrueCar stated that tariffs will drive up prices and reduce supply. Longer car loans are also a problem for the auto industry.According to Fox News, when asked whether Greenland would remain under Danish control, NATO Secretary General Rutte said that this question was not raised in his conversation with US President Trump.1. All three major U.S. stock indexes closed higher. The Dow Jones Industrial Average rose 1.21% to 49,077.23 points, the S&P 500 rose 1.16% to 6,875.62 points, and the Nasdaq Composite rose 1.18% to 23,224.82 points. Amgen rose nearly 4%, and Nvidia rose nearly 3%, leading the Dow. The Wind U.S. Tech Big Seven Index rose 0.98%, Tesla rose nearly 3%, and Google rose nearly 2%. Chinese concept stocks generally rose, with Baidu Group rising more than 8% and 21Vianet Group rising nearly 7%. 2. The three major European stock indexes closed mixed. The German DAX index fell 0.51% to 24,577.81 points, the French CAC40 index rose 0.08% to 8,069.17 points, and the UK FTSE 100 index rose 0.11% to 10,138.09 points. 3. US Treasury yields fell across the board. The 2-year Treasury yield fell 0.39 basis points to 3.584%, the 3-year Treasury yield fell 2.22 basis points to 3.651%, the 5-year Treasury yield fell 2.63 basis points to 3.822%, the 10-year Treasury yield fell 5.16 basis points to 4.241%, and the 30-year Treasury yield fell 5.26 basis points to 4.861%. 4. International precious metals futures closed mixed. COMEX gold futures rose 1.48% to $4836.20 per ounce, while COMEX silver futures fell 1.78% to $92.95 per ounce. 5. The most active US crude oil contract closed up 0.51% at $60.67 per barrel; the most active Brent crude oil contract rose 0.61% to $64.58 per barrel. 6. Most base metals rose in London. LME tin rose 3.81% to $51,295.0/ton, LME nickel rose 2.05% to $17,975.0/ton, LME aluminum rose 0.32% to $3,117.5/ton, LME copper rose 0.06% to $12,761.5/ton, LME zinc rose 0.06% to $3,175.0/ton, and LME lead fell 0.20% to $2,024.5/ton.Spot gold and silver opened steady on Thursday, currently trading at $4,832 per ounce and $93.01 per ounce, respectively.

Natural Gas prices fall below $2.70 despite USD Index attempts to recover, and demand concerns grow

Alina Haynes

Mar 14, 2023 13:12

截屏2023-01-19 下午3.42.24.png 

 

After a perpendicular recovery to close to $2.70 in the Asian session, Natural Gas futures have turned sideways. Weakness in the US Dollar Index (DXY), in general, has aided the upward bias in natural gas prices. Natural Gas futures appear vulnerable near $2.70 as the USD Index has demonstrated a recovery move to near 103.90 as investors become anxious ahead of the release of the United States Consumer Price Index (CPI) data.

 

The Federal Reserve's decision to raise interest rates is anticipated to have a negative impact on industrial demand for natural gas (Fed). The market anticipates that Fed chair Jerome Powell's scheduled rate hikes will lead to a recession in the near future.

 

Meanwhile, Winter is nearing its conclusion and summer has not yet arrived. Consequently, demand for residential purposes to heat domestic spaces will remain low. Additionally, because residences will require less electricity to operate air conditioners, power companies are less reliant on natural gas.

 

The recent decline in the USD Index is what has given Natural Gas prices new life. The US Energy Information Administration's (EIA) inventory data, which is released every Thursday, will dominate this week's trading in Natural Gas futures.

 

Going forward, investors eagerly anticipate the publication of US inflation data in order to form a new consensus. According to the projections, the headline CPI could fall to 6.0% from the previous release of 6.4%. And, core inflation, which excludes crude and food prices, is anticipated to decrease slightly to 5.5% from the previous release of 5.6%.

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