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On September 11, Canadian Prime Minister Mark Carney stated that while the trade measures imposed by the United States on Canada this week will impact some businesses, the overall impact will be "limited." He also hinted that the government currently has no plans for retaliatory action. "We fully recognize that these measures have a significant impact on individual businesses and specific industries," Carney said. "But I also believe that when considered in the context of other measures taken by the U.S. government, these measures are relatively limited." When asked whether Canada would retaliate, Carney stated that the best approach is to focus on the governments established plans to strengthen the domestic economy and diversify trade and economic relations.Meta Platforms (META.O) announced a cash dividend of $0.53 per share, payable on September 28, 2026.The Central Bank of Peru kept its benchmark interest rate unchanged at 4.25%.September 11th - According to Nikkei, Nissan Motor Co. will maintain a domestic production capacity of 1 million vehicles in Japan by reallocating production among its remaining plants after closing one. The Japanese automaker announced on Thursday that the production of minivans currently manufactured at its two plants in Fukuoka Prefecture will be transferred to its Tochigi Prefecture plant over the next two to three years. Nissans Oihama plant in Kanagawa Prefecture will cease operations at the end of fiscal year 2027. This is part of Nissans plan to close and restructure seven vehicle assembly plants globally. After the closure of the Oihama plant, Nissans domestic production capacity in Japan will be reduced to approximately 800,000 vehicles. Including vehicles manufactured by Mitsubishi Motors, Nissans domestic production capacity in Japan will remain at approximately 1 million vehicles.On September 11, Canadian Prime Minister Mark Carney met with visiting Ukrainian President Volodymyr Zelensky in Calgary, Alberta, on September 10. The two sides decided to cooperate in expanding the production of military drones and announced a series of new agreements. According to a press release from the Prime Ministers Office, Canada will establish a national digital platform for military drones, modeled after Ukraines "Brave One" drone platform, to accelerate the research, development, procurement, and deployment of drones and counter-drone systems, ensuring the equipment supply for the Canadian Armed Forces and Coast Guard. Canada has signed an initial procurement contract worth CAD 50 million (approximately USD 36.15 million). In addition, the two sides signed the "Canada-Ukraine Centennial Partnership Declaration" and a joint declaration on strengthening defense and security cooperation.

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

Alina Haynes

Mar 14, 2023 13:12

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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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