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August 17th - According to Irans Tasnim News Agency, Irans Minister of Agriculture stated: "Despite numerous problems and difficulties in recent months, there are no threats to food security, and the enemy has lost hope in this area. There has been no panic buying by the public in recent months. Based on the credibility built over the past 14 months, and the contingency plans and forward-looking arrangements implemented by the government and various levels of authority, food security will remain stable. Most affairs in the agricultural sector are now integrated into intelligent systems and under comprehensive control. Our assertion of perfect food security is based on a complete grasp of information systems. Nevertheless, we acknowledge that the public still bears a heavy economic burden due to factors such as war, blockades, rising prices, increased insurance and transportation costs, and fluctuations in international market prices."Irans Agriculture Minister: Despite the numerous problems and difficulties faced in recent months, there are no threats to food security, and the enemy is desperate in this area.The China Earthquake Networks Center officially determined that a magnitude 2.5 earthquake occurred at 14:15 on August 17 in Lixian County, Longnan City, Gansu Province (33.92 degrees north latitude, 104.95 degrees east longitude), with a focal depth of 10 kilometers.August 17th - AstraZeneca announced the official launch of Tezspire® (generic name: teszelinumab injection) in China. Based on positive results from the DIRECTION and WAYPOINT Phase III clinical trials in March 2026, teszelinumab received approval in China for two indications: maintenance therapy for severe asthma in adults and adolescents aged 12 years and older; and for use in combination with nasal corticosteroids to treat adult patients with chronic rhinosinusitis with nasal polyps (CRSwNP) whose disease is not adequately controlled by systemic corticosteroids and/or surgery.On August 17th, Daiwa Securities economist Kento Minami stated that given the weak economic growth data released on Monday, the Japanese government is unlikely to announce a formal exit from deflation in the current fiscal year ending March 2027. The Sanae Takaichi government previously stated that it would closely assess whether the Japanese economy is strong enough to avoid falling back into deflation before formally announcing the end of deflation. The market is closely watching the timing of the governments announcement, as it could influence the governments attitude towards further tightening monetary policy by the Bank of Japan. Minami stated that the fundamentals of the Japanese economy are improving, and key indicators such as the inflation rate, output gap, and unit labor costs also suggest that the risk of Japan falling back into persistent deflation is low.

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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