By FXEmpire.com
Analysis and Recommendations:
Natural Gas is trading at 3.082 as investors await today’s inventory. After weeks of extremely hot weather and droughts, traders are hoping to see a drop in inventory levels.
Inventory will be released just at the time of writing this report. The actual report will be printed below.
Today’s inventory showed:
Working gas in storage was 3,189 Bcf as of Friday, July 20, 2012, according to EIA estimates. This represents a net increase of 26 Bcf from the previous week. Stocks were 487 Bcf higher than last year at this time and 435 Bcf above the 5-year average of 2,754 Bcf. In the East Region, stocks were 167 Bcf above the 5-year average following net injections of 20 Bcf. Stocks in the Producing Region were 181 Bcf above the 5-year average of 938 Bcf after a net withdrawal of 1 Bcf. Stocks in the West Region were 88 Bcf above the 5-year average after a net addition of 7 Bcf. At 3,189 Bcf, total working gas is above the 5-year historical range.
Price had very little reaction to the inventory data when it was released
FxEmpire provides in-depth analysis for each currency and commodity we review. Fundamental analysis is provided in three components. We provide a detailed monthly analysis and forecast at the beginning of each month. Then we provide more up to the data analysis and information in our weekly reports.
Economic Data July 26, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Jul. 26 |
KRW |
South Korean GDP (QoQ) |
0.4% |
0.5% |
0.9% |
|
JPY |
BoJ Governor Shirakawa Speaks |
||||
|
EUR |
GfK German Consumer Climate |
5.9 |
5.8 |
5.8 |
|
|
USD |
Core Durable Goods Orders (MoM) |
-1.1% |
0.1% |
0.8% |
|
|
USD |
Durable Goods Orders (MoM) |
1.6% |
0.4% |
1.6% |
|
|
USD |
Initial Jobless Claims |
353K |
380K |
388K |
|
|
USD |
Continuing Jobless Claims |
3287K |
3310K |
3317K |
WEEKLY
- Natural Gas Weekly Update
Release Schedule: Thursday between 2:00 and 2:30 p.m. (Eastern Time) - Weekly Natural Gas Storage Report
Release Schedule: Thursday at 10:30 (Eastern Time) (schedule)
Upcoming Economic Events that affect the CHF, EUR, GBP and USD
|
Date |
Time |
Currency |
Event |
Previous |
|
Jul 27 |
27th-31st |
GBP |
-0.6% |
|
|
All Day |
EUR |
-0.1% |
||
|
7:00 |
CHF |
1.16 |
||
|
12:30 |
USD |
1.9% |
||
|
13:55 |
USD |
72.0 |
Government Bond Auctions
Date Time Country
Jul 27 09:10 Italy
Jul 27 17:00 US
Click here for updated Natural Gas News.
Originally posted here
