EUR/USD 1.18718
-0.069%
Gold 5091.01
1.609%
Oil 60.345
-0.647%
USD/JPY 154.506
0.191%
GBP/USD 1.36852
0.054%
GBP/JPY 211.449
0.257%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On January 27th, the Shanghai Futures Exchange (SHFE) reported the following data on energy and chemical warehouse receipts and changes: 1. Pulp futures warehouse receipts: 129,494 tons, an increase of 940 tons compared to the previous trading day; 2. Pulp futures mill warehouse receipts: 11,000 tons, unchanged from the previous trading day; 3. Offset paper futures warehouse receipts: 0 tons, unchanged from the previous trading day; 4. Offset paper futures mill warehouse receipts: 2,840 tons, unchanged from the previous trading day; 5. Fuel oil futures warehouse receipts: 0 tons, unchanged from the previous trading day. 6. Petroleum asphalt futures warehouse receipts: 10,000 tons, unchanged from the previous trading day; 7. Petroleum asphalt futures factory warehouse receipts: 28,480 tons, unchanged from the previous trading day; 8. Medium-sulfur crude oil futures warehouse receipts: 3,464,000 barrels, unchanged from the previous trading day; 9. Low-sulfur fuel oil futures warehouse receipts: 6,530 tons, unchanged from the previous trading day; 10. Low-sulfur fuel oil futures factory warehouse receipts: 0 tons, unchanged from the previous trading day.EU: Under the EU-India agreement, tariffs on EU fruit juices and processed foods will be eliminated.EU: Under the EU-India agreement, tariffs on EU wine will be reduced to 20%-30%, tariffs on EU spirits to 40%, and tariffs on EU beer to 50%.The EU stated that, under the EU-India agreement, EU service providers enjoy privileged access to India in key sectors such as finance and maritime services.Under the EU-India agreement, tariffs on more than 90% of EU goods exports will be eliminated or reduced.

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%.

Suggestion