By FXEmpire.com

Analysis and Recommendations:

Natural Gas remains high at 2.761 adding 0.040 on the weakened USD as all commodities soared in today’s trading as investors looked for more risk, after the EU introduced thier total plan, for an immediate safety net for the EU. The Ministers shocked markets who were not prepared for any decisive action on their behalf. With press releases and news and bickering and fighting leading up to the Summit, there was not much in the way of expectations.

Early Friday morning the EU Ministers unveiled their plan of action to take place by July 9, 2012. The plan is being hailed by markets and investors, and politicians and global leaders. Finally a plan of action.

This move buoyed the markets.

Yesterday, investors sold off NG to take profits as the month closed and pushed prices downward, but NG was able to gain, while investors are waiting on word from the EIA on the Japanese request to import NG to Japan. Markets are expecting a favorable outcome.

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 for June 29, 2012 actual v. forecast

Date

Currency

Event

Actual

Forecast

Previous

JPY

Unemployment Rate

4.4%

4.6%

4.6%

JPY

Tokyo Core CPI (YoY)

-0.6%

-0.7%

-0.8%

JPY

Industrial Production (MoM)

-3.1%

-2.8%

-0.2%

EUR

French GDP (QoQ)

0.0%

0.0%

0.0%

EUR

French Consumer Spending (MoM)

0.4%

-0.1%

0.7%

CHF

KOF Leading Indicators

1.16

0.85

0.80

NOK

Norwegian Core Retail Sales (MoM)

1.70%

0.50%

-0.20%

EUR

CPI (YoY)

2.4%

2.4%

2.4%

USD

Core PCE Price Index (MoM)

0.1%

0.2%

0.1%

CAD

GDP (MoM)

0.3%

0.2%

0.1%

USD

Personal Spending (MoM)

0.0%

0.1%

0.1%

USD

Chicago PMI

52.9

52.5

52.7

USD

Michigan Consumer Sentiment

73.2

74.1

74.1

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)

Click here for updated Natural Gas News.

Originally posted here