By FXEmpire.com
Analysis and Recommendations:
Natural Gas is trading at 2.833 midway through the US session, after dipping in morning trading as investors grab profits after natural gas climbed most of last week adding over 3.6%. NG continued to climb adding 0.11
Weather patterns in the US show high temperatures for the mid west and the west over the next two weeks, which should show an increase in demand for Natural Gas, also lower production due to the cut back by producers due to the low costs in the prior month, should help bolster prices and reduce inventories when the EIA release delayed data due to the US 4th of July holiday.
Markets will be closed on Wednesday to celebrate the national holiday and trading is expected to be thin most of the week.
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 date for July 2, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
July 2 |
JPY |
Tankan Large Manufacturers Index |
-1 |
-4 |
-4 |
|
CNY |
Chinese HSBC Manufacturing PMI |
48.20 |
48.10 |
||
|
CHF |
Retail Sales (YoY) |
6.2% |
5.0% |
0.2% |
|
|
CHF |
SVME PMI |
48.1 |
45.0 |
45.4 |
|
|
EUR |
French Manufacturing PMI |
45.2 |
45.3 |
45.3 |
|
|
EUR |
German Manufacturing PMI |
45.0 |
44.7 |
44.7 |
|
|
EUR |
Manufacturing PMI |
45.1 |
44.8 |
44.8 |
|
|
GBP |
Manufacturing PMI |
48.6 |
46.7 |
45.9 |
|
|
EUR |
Unemployment Rate |
11.1% |
11.1% |
11.0% |
|
|
USD |
ISM Manufacturing Index |
47.9 |
52.0 |
53.5 |
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 to read Natural Gas Technical Analysis.
Originally posted here
