Natural Gas Fundamental Analysis August 13, 2013 Forecast

August 12, 2013

Natural Gas Fundamental Analysis August 13, 2013 Forecast

Natural Gas Fundamental Analysis August 13, 2013 Forecast

Analysis and Recommendations:

Natural Gas gained 80 pips today to trade at 3.309 remaining flat for most of the day. Natural gas futures in New York rebounded after a third week of declines amid speculation that mild weather in the U.S. will widen an inventory surplus. Futures for September delivery rose as much as 1.5 percent to $3.279 per million British thermal units in electronic trading on the New York Mercantile Exchange and were at $3.278 at 12:09 p.m. London time. The volume of all futures traded was 75 percent higher than the 100-day average. The contract settled at $3.23 on Aug. 9, the lowest close since Feb. 15. U.S. natural gas inventories were 0.7 percent above the five-year average in the week ended Aug. 2, rising to a surplus for the first time since March, a government report showed Aug. 8. Most of the lower-48 states may experience normal or cooler-than-average temperatures through Aug. 23, according to Commodity Weather Group LLC in Bethesda, Maryland.

The high in New York on Aug. 18 may be 76 degrees Fahrenheit (24 Celsius), 7 lower than usual, said AccuWeather Inc. in State College, Pennsylvania. Temperatures in Chicago may reach 75 Fahrenheit, 7 less than average. Power generation accounts for 32 percent of U.S. gas demand, according to the Energy Information Administration, the Energy Department’s statistical arm according to Bloomberg

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 August 12, 2013 actual v. forecast

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

Government Bond Auction

Date Time Country 

Aug 13 00:30 Japan

Aug 13 09:10 Italy

Aug 13 09:30 Belgium

Aug 13 14:30 UK

Aug 14 08:30 Spain

Aug 14 09:30 Germany

Aug 15 09:30 UK

Aug 15 11:00 Norway

 

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)

 

Article source: http://www.fxempire.com/fundamental/fundamental-analysis-reports/natural-gas-fundamental-analysis-august-13-2013-forecast/

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