EIA Natural Gas Change (cubic feet):
- Actual -93 bn
- Forecast -98 bn
- Previous -125 bn
The NATGAS contract hit the 30-day EMA (light purple) following the lower than expected change. The reading came in significatly lower that a five-year everage for the week (-127 BCF), thus forcing the commodity to further give up its most recent gains. The temperature outlook for the upcoming week remians elevated realtive to the past years averages.
Source: xStation5
Source: NOAA
Daily Summary: Oil Rebounds, EURUSD Falls Sharply 🗽 Wall Street Stabilizes After Nvidia Sell-Off
Oil Gains Nearly 2% Despite a Sharp Rise in US Inventories 📈
🚩 Gold loses almost 3%
Market Wrap: Europe Breaks Records, Another Scandal at Nvidia