While the majority of commodities trade under pressure today amid post-NFP USD strengthening, there is one commodity that visible bucks this trend - US natural gas prices (NATGAS). NATGAS gains over 3% today and trades at the highest level in 2 weeks. Weather forecasts for the United States can be named as a reason behind the move as they continue to point to a higher-than-average temperatures in key regions. This means that demand for air conditioning, and therefore power generated by gas-powered plants, will likely increase.
Forecast for the next 8-14 days an over 50% chance of above-average temperatures in the US Midwest region. Source: Bloomberg Finance LP
Taking a look at NATGAS chart at H1 interval, we can see that price jumped above $2.85 per MMBTu resistance zone today and is now trading over 15% above the local low from end of May. A daily high today was reached above $2.92, but price pulled back slightly. Nevertheless, NATGAS continues to trade 3% higher on the day. The next potential resistance zone to watch can be found in the $2.95 area, marked with late-May highs.
Source: xStation5
📊 ملخص يومي - الاحتياطي الفيدرالي يرفع أسعار الفائدة ويلمح لمزيد من الرفع؛ الدولار يرتفع والذهب يتراجع.
خطوة متشددة من الاحتياطي الفيدرالي! يتبنى "وارش" نهجاً حازماً لا هوادة فيه في معركته ضد التضخم؛ إذ سجل مؤشر US500 أدنى مستوياته منذ 3 أغسطس، بينما انخفض سعر الذهب بالفعل إلى ما دون 4300 دولار.
مباشر: المؤتمر الصحفي للفدرالي
🟡الذهب يرتفع 1.2% قبيل قرار الفيدرالي