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On Wednesday, May 6, the Hang Seng Index opened 131.04 points higher, or 0.51%, at 26,029.65; the Hang Seng Tech Index opened 42.01 points higher, or 0.85%, at 4,971.69; the H-share Index opened 55.51 points higher, or 0.64%, at 8,786.0; and the Red Chip Index opened 4.95 points higher, or 0.11%, at 4,411.37.Hang Seng Index futures opened 0.51% higher at 25,934 points, a premium of 40 points.May 6th - According to the Shenzhen Municipal Bureau of Culture, Radio, Television, Tourism and Sports, the city received 7.3336 million tourists on May 5th, a year-on-year increase of 5.3%; tourism revenue reached 5.629 billion yuan, a year-on-year increase of 3.6%. During the May Day holiday, Shenzhens attractiveness as a core inbound transportation hub in the Greater Bay Area continued to be amplified. Data from Ctrip shows that Shenzhen ranked fourth among the "Top 10 Popular Inbound Cities for May Day," following only Shanghai, Beijing, and Guangzhou. A report from Tongcheng Travel points out that, relying on convenient transportation and diverse cultural and tourism resources, Shenzhens position as a core inbound transportation hub has become more prominent, with a significant increase in the number of overseas tourists transiting through Hong Kong to Shenzhen.Xiaomi Auto announced that the new generation SU7 has received more than 80,000 orders in just 48 days since its launch.Futures News, May 6th: Crude oil prices fluctuated, but the range narrowed slightly compared to before the holiday. Fuel oil cost support was limited, and market participants adopted a wait-and-see attitude. Market restocking demand remained strong, resulting in a lukewarm trading pace. Fuel oil negotiations are expected to remain stable with a narrow range today.

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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