EUR/USD 1.14360
0.035%
Gold 4174.79
1.240%
Oil 68.721
0.443%
USD/JPY 161.359
0.158%
GBP/USD 1.33524
0.049%
GBP/JPY 215.459
0.223%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
July 5 - The European Parliament is considering a measure that could revoke the registration of the "Sovereign State Europe" group, led by the Alternative for Germany (AfD), and strip it of EU funding, as it is suspected of violating core EU values.July 5th - According to Russian and Ukrainian sources, from the evening of July 3rd to the early morning of July 4th, Russian and Ukrainian forces launched a large-scale attack on each others targets. The Russian military stated that four more settlements under its control in the Kharkiv region had been added. The Russian Ministry of Defense issued a statement on July 4th saying that in the past 24 hours, Russian forces attacked Ukrainian fuel, energy, and transportation infrastructure in 142 regions, as well as long-range drone production and storage facilities, and also struck temporary deployment sites of Ukrainian troops and foreign mercenaries. The statement said that Russian air defense forces also destroyed 10 Flamingo cruise missiles, 9 HIMARS rocket launchers, 16 guided aerial bombs, and 893 fixed-wing drones launched by Ukrainian forces.July 5 - According to Sputnik News Agency, a Geranium-4 drone operator destroyed a fuel storage facility in the Kharkiv region of Ukraine. The warehouse had previously been used to supply the Ukrainian army.Anthropic has begun preliminary research and development of its self-developed AI chip and is in talks with Samsung Electronics, planning to partner with them as a potential chip foundry. This move, similar to OpenAI, aims to strengthen its independent control over the costly computing hardware system that supports its large-scale models.Russian Ministry of Defense: Ukrainian army lost up to 1,350 soldiers in one day.

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