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% |
|
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