By FXEmpire.com

Analysis and Recommendations:

Natural Gas is trading down dropping 0.043 to exchange at 2.256.

A recent report in California, said that if the twin nuclear facilities are offline, and if the summer is hot that the state might have to start rolling blackouts. There is a plan to reopen two closed energy facilities that run on natural gas, this might be the boost that ng needs to use the excessive inventory. At present no final plans have been made.

Also, The number of rigs actively explored for oil and natural gas in the US was up by 4 last week to 1,984. 1,414 rigs were explored for oil and 565 for gas while 5 were listed as miscellaneous, as per Houston-based oilfield services company Baker Hughes Inc.

As per US Energy department, Demand from Residential sector is expected to decline in comparison to last year, as this year summer season is going to be less severe on account of lower number of Cooling Degree Days expectation, reported by EIA. Currently, the storage level is at 2877 BCF, positioned storage volumes 732 Bcf above year-ago levels. In the coming week, also the injection level is likely to increase on the back of rising supply and lower demand, which may weigh on gas prices. Most importantly, As per National Hurricane Centre, as of now there is no tropical storm formation is seen in North Atlantic region. Normal temperature in consuming region of US, may pressurize gas demand for the day.

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 June 9-10-11, 2012 actual v. forecast ( today was very lite for all of Europe and the US. The Chinese Eco data, had the most effects on the markets )

Jun. 09

CNY

Chinese CPI (YoY)

3.0%

3.2%

3.4%

CNY

Chinese PPI (YoY)

-1.4%

-1.1%

-0.7%

CNY

Chinese CPI (MoM)

-0.3%

-0.1%

-0.1%

CNY

Chinese Fixed Asset Investment (YoY)

20.1%

20.0%

20.2%

CNY

Chinese Industrial Production (YoY)

9.6%

9.9%

9.3%

CNY

Chinese Retail Sales (YoY)

13.8%

14.3%

14.1%

Jun. 10

CNY

Chinese Trade Balance

18.70B

16.30B

18.40B

Jun. 11

JPY

BSI Large Manufacturing Conditions

-5.7

-2.4

-7.3

WEEKLY

Click here a current Natural Gas Chart.

Originally posted here