By FXEmpire.com
Analysis and Recommendations:
Natural Gas dipped a bit yesterday as investors took profits, but prices climbed once again today, trading at 3.122 adding 0.011. As extremely hot weather continues across the US and electricity demands are up over 20% of which the extra production uses natural gas, the demand for gas is growing quickly on physical demand.
The price is expected to continue to increase on a slower basis and the National Weather forecast is now calling for this to be one of the hottest July’s in history and August is predicted to be the same.
Spot prices have rallied nearly 35% in the past five weeks, as extreme heat conditions across the U.S. boosted declining demand for the fuel. The recent gains helped push natural gas futures into positive territory for 2012. The fuel is now up 4% in 2012
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 24, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Jul. 24 |
CNY |
Chinese HSBC Manufacturing PMI |
49.50 |
48.20 |
|
|
AUD |
RBA Governor Stevens Speaks |
||||
|
EUR |
French Manufacturing PMI |
43.6 |
45.5 |
45.2 |
|
|
HUF |
Hungarian Retail Sales (YoY) |
-2.50% |
-2.00% |
-2.80% |
|
|
EUR |
German Manufacturing PMI |
43.3 |
45.3 |
45.0 |
|
|
EUR |
Manufacturing PMI |
44.1 |
45.3 |
45.1 |
|
|
GBP |
BBA Mortgage Approvals |
26.3K |
31.4K |
29.6K |
|
|
Core Retail Sales (MoM) |
0.5% |
0.2% |
-0.4% |
||
|
CAD |
Retail Sales (MoM) |
0.3% |
0.5% |
-0.6% |
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 25 |
8:00 |
EUR |
105.3 |
|
|
8:30 |
GBP |
-0.3% |
||
|
10:00 |
GBP |
-11 |
||
|
13:00 |
EUR |
-13.2 |
||
|
14:00 |
USD |
369K |
||
|
14:30 |
USD |
|||
|
Jul 26 |
6:00 |
EUR |
5.8 |
|
|
8:00 |
EUR |
2.9% |
||
|
12:30 |
USD |
0.7% |
||
|
12:30 |
USD |
|||
|
14:00 |
USD |
5.9% |
||
|
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 |
Click here to read Natural Gas Technical Analysis.
Originally posted here
