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On May 24th, Mehdi Tajé, president of the Iranian Football Federation, announced on the 23rd that, with FIFAs approval, the Iranian national football teams training base for the World Cup would be moved from the United States to Mexico. In a statement released to the media by the Iranian Football Federation, Tajé said that due to difficulties obtaining visas, the Iranian national team requested FIFA to change its World Cup training base from Tucson, Arizona, to Tijuana, Mexico, and that preparations in Tijuana have been completed. Tijuana is located on the US-Mexico border, approximately 20 kilometers from San Diego, a city in Southern California.May 24th - According to AXIOS, a US official revealed the main contents of the agreement that the US and Iran are about to sign. However, it remains unclear whether the agreement can lead to a lasting peace deal while also meeting Trumps nuclear demands. The US official stated that the White House hopes to resolve the final differences in the next few hours and announce the agreement on Sunday. However, this is not yet finalized. The official provided a detailed summary of the current draft, most of which has been confirmed by other sources close to the negotiations. Iran has not yet confirmed these details, but has also stated that an agreement is close to being reached. ① Main contents: The two sides will sign a memorandum of understanding, valid for 60 days, which can be extended by mutual agreement. During the 60-day period, the Strait of Hormuz will be open without tolls, and Iran agrees to clear its mines deployed in the strait to allow free passage for ships. In exchange, the US will lift the blockade on Iranian ports and issue some sanctions waivers, allowing Iran to freely sell oil. Iran hopes for an immediate unfreezing of funds and a permanent lifting of sanctions, but the US has stated that this will only be achieved after concrete concessions are made. ② Nuclear issue still pending negotiation: The US official stated that the draft memorandum of understanding includes Irans commitment to never seek nuclear weapons and negotiations on suspending its uranium enrichment program and clearing its stockpile of highly enriched uranium. Two sources familiar with the matter said that Iran, through mediators, verbally promised the US the range of concessions it was willing to make regarding suspending uranium enrichment and abandoning nuclear materials. US troops mobilized in recent months will remain in the region for 60 days and will only withdraw if a final agreement is reached. ③ Lebanon ceasefire: The draft memorandum of understanding also clarifies that the war between Israel and Lebanon will end. The US official stated that this will not be a "unilateral ceasefire," and Israel will be allowed to take action to stop Hezbollah if it attempts to rearm or incite attacks.Polish military: Military air operations conducted in Polish airspace in connection with Russian strikes in Ukraine have ceased. No violations of Polish airspace have been recorded.The mayor of Kyiv, Ukraine, said that Russian forces launched a large-scale missile and drone attack on Kyiv in the early hours of the morning, resulting in at least one death and 13 injuries.On May 24th, a White House official in charge of the 2026 FIFA World Cup said on the 22nd that, due to the Ebola outbreak, the Democratic Republic of Congo (DRC) national team must undergo a 21-day quarantine outside the United States before entering the country to participate in the tournament. The DRC team responded that day, stating that they would not change their existing World Cup warm-up match plans.

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%.