Natural Gas Fundamental Analysis June 1, 2012, Forecast

Analysis and Recommendations:

Natural Gas declined to trade at 2.416 down 0.003. Inventory reports showed that supplies continued to rise, now that the weather situation has calmed. Without seasonal demand, natural gas, should settle back to the 2.36 range, where it was trading before falling to a 10 year low and then climbing higher then 2.80.

Natural-gas inventories rose by 71 billion cubic feet for the week ended May 25, the U.S. Energy Department said Thursday. Analysts polled by Platts forecast a climb of between 67 billion and 71 billion cubic feet. Total stocks now stand at 2.815 trillion cubic feet, up 732 billion cubic feet from the year-ago level and 724 billion cubic feet above the five-year average, the government said.

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 31, 2012 actual v. forecast

 

Currency

 

 

 

Event

Actual

 

Forecast

 

Previous

 

 

 

JPY

 

 

 

Industrial Production (MoM) 

0.2%

 

0.5% 

 

1.3% 

 

 

 

AUD

 

 

 

Building Approvals (MoM) 

-8.7%

 

0.7% 

 

6.0% 

   

 

AUD

 

 

 

Private New Capital Expenditure (QoQ) 

6.1%

 

4.0% 

 

-0.7% 

   

 

CHF

 

 

 

GDP (QoQ) 

0.7%

 

0.1% 

 

0.5% 

   

 

GBP

 

 

 

Nationwide HPI (MoM) 

0.3%

 

0.2% 

 

-0.3% 

   

 

EUR

 

 

 

French Consumer Spending (MoM) 

0.6%

 

0.3% 

 

-2.6% 

   

 

EUR

 

 

 

German Unemployment Rate 

6.7%

 

6.8% 

 

6.8% 

 

 

 

EUR

 

 

 

German Unemployment Change 

0K

 

-5K 

 

18K 

   

 

EUR

 

 

 

CPI (YoY) 

2.4%

 

2.5% 

 

2.6% 

 

 

 

USD

 

 

 

ADP Nonfarm Employment Change 

133K

 

148K 

 

113K 

   

 

CAD

 

 

 

Current Account 

-10.3B

 

-11.0B 

 

-9.7B 

   

 

USD

 

 

 

Initial Jobless Claims 

383K

 

370K 

 

373K 

   

 

USD

 

 

 

GDP (QoQ) 

1.9%

 

1.9% 

 

2.2% 

 

 

 

USD

 

 

 

Continuing Jobless Claims 

3242K

 

3250K 

 

3278K 

   

 

USD

 

 

 

Chicago PMI 

52.7

 

56.5 

 

56.2 

   

 

WEEKLY

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

Date

Time

Currency

 

Previous

Jun 1

TBD

GBP

Halifax HPI m/m

 

7:15

CHF

Retail Sales y/y

4.2%

7:30

CHF

SVME PMI

46.9

7:45

EUR

Italian Manufacturing PMI

43.8

8:30

GBP

Manufacturing PMI

50.5

9:00

EUR

Unemployment Rate

10.9%

12:30

USD

Non-Farm Employment Change

115K

12:30

USD

Unemployment Rate

8.1%

12:30

USD

Core PCE Price Index m/m

0.0%

12:30

USD

Personal Spending m/m

0.2%

12:30

USD

ISM Manufacturing PMI

0.3%

14:00

USD

S&P/CS Composite-20 HPI y/y

54.8

 

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