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On April 16th, Mao Shengyong, Deputy Director of the National Bureau of Statistics, stated that domestic demand contributed 84.7% to GDP growth in the first quarter, an increase of nearly 30 percentage points year-on-year. Imports of consumer goods grew by 5.4% in the first quarter, indicating a gradual recovery in domestic market demand and creating conditions for sustained economic growth. In particular, the potential of service consumption is being gradually released, and relevant departments have introduced policies to continuously support and encourage the accelerated development of related industries.Hong Kong stocks continued to rise, with the Hang Seng Tech Index up 3% and the Hang Seng Index up 1.38%. Technology stocks performed strongly, with Baidu (09888.HK) up 7.6%, NetEase-S (09999.HK) and Alibaba (09988.HK) up 4.6%.On April 16, Mao Shengyong, Deputy Director of the National Bureau of Statistics, stated at a press conference held by the State Council Information Office that, based on years of experience, regardless of changes in the external environment, even during the pandemic when the market worried about the sustainability of my countrys foreign trade, my countrys imports and exports have remained strong. This is attributed to enterprises efforts to improve their internal capabilities, enhance the technological content of their products, and increase their overall competitiveness. Overall, my countrys imports and exports still have the potential to maintain relatively good growth.On April 16, Mao Shengyong, deputy director of the National Bureau of Statistics, said at a press conference held by the State Council Information Office that the output of medium and high-end equipment such as generator sets and railway locomotives grew rapidly in the first quarter, increasing by 15.1% and 63.8% respectively.Hong Kong-listed AI application stocks rose, with DeepTech (01384.HK) up over 21%, MyFT (02556.HK) up over 13%, Pony.ai-W (02026.HK) up over 10%, and Kingdee International (00268.HK) and Baidu (09888.HK) up 6.8%.

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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