Natural Gas Fundamental Analysis June 5, 2012, Forecast

Analysis and Recommendations:

Natural Gas is trading at 2.393. Currently, gas futures prices are trading below $2.390/mmbtu with gain of more than 0.60 percent. 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 2815BCF, 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.

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 4, 2012 actual v. forecast (virtually no eco data in Europe or the US today)

Date

 

Currency

 

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Jun. 04

 

JPY

 

 

 

Monetary Base (YoY) 

2.4%

 

0.2% 

 

-0.3% 

 

 

 

 

AUD

 

 

 

MI Inflation Gauge (MoM) 

0.0%

 

 

 

0.3% 

 

 

 

 

AUD

 

 

 

Company Gross Profits (QoQ) 

-4.0%

 

-2.0% 

 

-6.5% 

 

 

 

 

AUD

 

 

 

ANZ Job Advertisements (MoM) 

-2.40%

 

 

 

-0.80% 

   

 

WEEKLY

 

Upcoming Economic Events that affect the CHF, EUR, GBP and USD

Date

Time

Currency

 

Forecast

Previous

 

Jun 5

9:00

EUR

Retail Sales m/m

 

0.3%

10:00

EUR

German Factory Orders m/m

 

2.2%

14:00

USD

ISM Non-Manufacturing PMI

 

53.5

 

Jun 6

6th-8th

GBP

Halifax HPI m/m

   

8:30

GBP

Construction PMI

 

55.8

10:00

EUR

German Industrial Production m/m

 

2.8%

11:45

EUR

Minimum Bid Rate

1.00%

1.00%

12:30

EUR

ECB Press Conference

   

12:30

USD

Revised Nonfarm Productivity q/q

 

-0.5%

14:30

USD

Crude Oil Inventories

   

18:00

USD

Beige Book

   

23:01

GBP

BRC Retail Sales Monitor y/y

 

-3.3%

 

Jun 7

7:00

CHF

Foreign Currency Reserves

 

235.6B

7:15

CHF

CPI m/m

 

0.1%

8:30

GBP

Services PMI

 

53.3

TBD

EUR

French 10-y Bond Auction

   

11:00

GBP

Asset Purchase Facility

 

325B

11:00

GBP

Official Bank Rate

0.50%

0.50%

TBD

GBP

MPC Rate Statement

   

12:30

USD

Unemployment Claims

 

383K

14:00

USD

Fed Chairman Bernanke Testifies

   

 

Jun 8

8:30

GBP

PPI Input m/m

 

-1.5%

8:30

GBP

Consumer Inflation Expectations

 

3.5%

TBD

GBP

10-y Bond Auction

   

12:30

USD

Trade Balance

 

-51.8B

14:00

USD

Fed Chairman Bernanke Testifies

   

 

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