By FXEmpire.com
Analysis and Recommendations:
Natural Gas fell in today’s session to trade at 2.72 down 0.102 as investors last week drove the price upwards and then today dumped the commodity to take profits. Earlier in the day gas tumbled as low as 2.66.
Just two weeks ago NG had fallen to 10 year lows trading at low as 1.92 before an EIA report about increased use by the energy industry gave investors a reason to pump up the value. Inventories remained high but the price continued to rise.
A few producers announced reduction in production due to economic reasons, as they need the price at 3.00 to show profits.
Global markets were relatively quiet today, devoid of any interesting eco data and a quiet day on the news front.
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 May 21, 2012 actual v. forecast
|
Date |
Time |
Currency |
Importance |
Event |
Actual |
Forecast |
Previous |
|
May 21 |
00:01 |
GBP |
0.0% |
2.9% |
|||
|
06:45 |
CHF |
-8 |
-15 |
-19 |
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
|
May 22 |
8:30 |
GBP |
3.5% |
|
|
8:30 |
GBP |
15.9B |
||
|
8:30 |
GBP |
3.6% |
||
|
TBD |
GBP |
|||
|
14:00 |
USD |
4.48M |
||
|
May 23 |
8:00 |
EUR |
-1.3B |
|
|
8:30 |
GBP |
0-0-9 |
||
|
TBD |
EUR |
-1.2% |
||
|
10:00 |
GBP |
-8 |
||
|
TBD |
GBP |
|||
|
14:00 |
USD |
328K |
||
|
14:30 |
USD |
Click here for updated Natural Gas News.
Originally posted here
