By FXEmpire.com
Analysis and Recommendations:
Natural Gas is trading at 2.747 slightly elevated in today’s session. As summer comes to an end traders are hoping for a late summer, known as an Indian summer, which gives the possibility of 1-2 more months of hotter than expected temperatures. This week the US seems to be turning up the thermometer with temperatures climbing to the above average across the mid west and south.
Power generators have switched from coal to natural gas–with a devastating impact on coal. Coal has long been the dominant fuel for power generation. But April 2012, for the first time in the history of EIA data, power generation from coal-fired and natural gas-fired plants reached parity, each contributing 32% to total electricity generation.
With natural gas prices as low as they’ve been over the past years, operating costs for power generators have plunged. It doesn’t hurt that NGCC plants have lower capital costs than coal plants–$600 to $700 per kW versus $1,400 to $2,000 kW–relatively short construction times, and environmental benefits.
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 August 20, 2012 actual v. forecast
A very lite day
|
Aug. 16 |
NZD |
PPI Input (QoQ) |
0.6% |
-0.2% |
0.3% |
||
|
Aug. 17 |
USD |
Michigan Consumer Sentiment |
73.6 |
72.4 |
72.3 |
||
|
Aug. 20 |
GBP |
Rightmove House Price Index (MoM) |
-2.4% |
-1.7% |
|||
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 |
|
Aug 22 |
14:00 |
USD |
4.37M |
|
|
14:30 |
USD |
-3.7M |
||
|
18:00 |
USD |
|||
|
Aug 23 |
6:00 |
CHF |
2.25B |
|
|
7:00 |
EUR |
43.4 |
||
|
7:00 |
EUR |
50.0 |
||
|
7:30 |
EUR |
43.0 |
||
|
7:30 |
EUR |
50.3 |
||
|
8:00 |
EUR |
44.0 |
||
|
8:00 |
EUR |
47.9 |
||
|
8:30 |
GBP |
26.3K |
||
|
10:00 |
GBP |
11 |
||
|
12:30 |
USD |
366K |
||
|
13:00 |
USD |
51.4 |
||
|
14:00 |
USD |
350K |
Click here for further Natural Gas Forecast.
Originally posted here
