By FXEmpire.com
Analysis and Recommendations:
Natural Gas lost a bit of strength today, to fall 0.013. Most of the commodities saw small to medium size gains today, while NG continued to buck the overall trend. The commodity traded for 2.783 as investors took the opportunity to take profits.
Weather remains the main factor is supporting current prices, as summer draws near temperatures are continuing to rise, the weather service is forecasting an early summer, which means more energy requirements for air conditioning. This excess production allows energy producers to switch from coal to the less expensive NG, which helps drive demand and reduce inventories.
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 May 24, 2012 actual v. forecast
|
Date |
Time |
Currency |
Event |
Actual |
Forecast |
Previous |
|
May 24 |
03:30 |
CNY |
Chinese HSBC Mfg PMI |
48.70 |
49.30 |
|
|
07:00 |
EUR |
German GDP (QoQ) |
0.5% |
0.5% |
0.5% |
|
|
07:00 |
EUR |
German GDP (YoY) |
1.7% |
1.7% |
1.7% |
|
|
07:58 |
EUR |
French Manufacturing PMI |
44.4 |
47.0 |
46.9 |
|
|
08:28 |
EUR |
German Manufacturing PMI |
45.0 |
47.0 |
46.2 |
|
|
09:00 |
EUR |
German Ifo Business Climate |
106.9 |
109.4 |
109.9 |
|
|
09:00 |
EUR |
Manufacturing PMI |
45.0 |
46.1 |
45.9 |
|
|
09:00 |
EUR |
German Current Assessment |
113.3 |
117.4 |
117.5 |
|
|
09:00 |
EUR |
German Business Expectations |
100.9 |
102.0 |
102.7 |
|
|
09:30 |
GBP |
BBA Mortgage Approvals |
32.4K |
32.3K |
31.9K |
|
|
09:30 |
GBP |
Business Investment (QoQ) |
3.6% |
3.2% |
-3.3% |
|
|
09:30 |
GBP |
GDP (QoQ) |
-0.3% |
-0.2% |
-0.2% |
|
|
09:30 |
GBP |
GDP (YoY) |
-0.1% |
0.0% |
0.0% |
|
|
13:30 |
USD |
Core Durable Goods Orders |
-0.6% |
0.9% |
-0.8% |
|
|
13:30 |
USD |
Durable Goods Orders (MoM) |
0.2% |
0.5% |
-3.7% |
|
|
13:30 |
USD |
Initial Jobless Claims |
370K |
370K |
372K |
|
|
13:30 |
USD |
Continuing Jobless Claims |
3260K |
3250K |
3289K |
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
