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The China Earthquake Networks Center officially reported that a magnitude 3.4 earthquake occurred at 13:18 on April 23 in Kuqa City, Aksu Prefecture, Xinjiang (41.17 degrees north latitude, 83.69 degrees east longitude), with a focal depth of 15 kilometers.Hyundai Motor: Its global market share rose to 4.9% in the first quarter, up from 4.6%.Hyundai Motor: First-quarter revenue was 45.9 trillion won. First-quarter operating profit was 2.5 trillion won. Hybrid vehicle sales accounted for 17.8% of total sales in the first quarter.April 23rd, Futures News: Economies.com analysts latest view: Spot gold fell in recent intraday trading, testing the $4700 support level, which was our target level set in our previous analysis. This support provided some positive momentum for gold prices, causing a rebound and partially recovering previous losses. This movement reflects that gold prices are attempting to stabilize after recent selling pressure. Despite the rebound, a cautious approach is still necessary, as gold prices remain below the 50-day EMA, which acts as dynamic resistance and limits the possibility of a full-scale recovery. Furthermore, the short-term corrective uptrend line has been broken. Meanwhile, the Relative Strength Index (RSI) continues to release negative signals after entering overbought territory, which may support the possibility of further pullbacks in gold prices in the near future.April 23rd, Futures News: Economies.com analysts latest view: WTI crude oil futures prices have fluctuated significantly in recent intraday trading, having previously touched the resistance level of $95.00, which was also the previously set price target. Due to the strong performance of this resistance level, prices have pulled back to accumulate the momentum needed to challenge it again. Meanwhile, the Relative Strength Index (RSI) shows prices digesting overbought conditions and has formed a negative crossover, explaining the recent brief decline. Nevertheless, prices remain supported by trading above the 50-day EMA, and the previous breakout of the corrective downtrend line also has a positive impact. These factors enhance the possibility of a resumption of the upward trend and an attempt to break through the resistance level.

Natural Gas Price News: XNG/USD prompts a three-day recovery near the monthly apex near $2.50 due to the strengthening of the US Dollar

Daniel Rogers

Apr 19, 2023 15:46

 截屏2022-11-08 下午5.39.10_1024x576.png

 

During the early hours of Wednesday morning in Europe, the price of natural gas (XNG / USD) reverses course from its greatest levels in a month to post modest losses of approximately $2.51. As a result, the energy instrument breaks a three-day winning stretch amid negative sentiment and the most recent dollar recovery.

 

Recent news articles concerning the US House China Committee's discussion of the Taiwan invasion scenario and a likely delay on the US debt ceiling decision appear to have agitated the risk profile. Recent unfavorable US data and hawkish Fed forecasts may be on the same trajectory. It should be noted that a divided earnings season influences sentiment and the price of Natural Gas.

 

In addition, Bloomberg released news indicating China's involvement in the Russia-Ukraine conflict, which, along with US President Joe Biden's reluctance to negotiate the debt limit, weighed on sentiment.

 

The recent decline in the XNG/USD price appears to be the result of a combination of factors, including reports that the United Kingdom has sufficient natural gas supplies to last through the winter and concerns about the likelihood of milder weather in the West. The Financial Times (FT) may have reported similar information: "The EU is storing record amounts of natural gas after a milder-than-expected winter, bolstering hopes that the bloc can wean itself off imports from Russia." According to the industry group Gas Infrastructure Europe, the bloc's storage capacity reached 55.7% at the beginning of the month, the highest level for early April since at least 2011.

 

In spite of this, the US Dollar Index (DXY) reverses its previous recovery from a one-year low and gains offers to 101.80 at the latest.

 

The previous day, the dollar index versus six main currencies reversed course in response to declining yields. In spite of this, US 10-year and 2-year Treasury bond coupons declined for the first time in four days by the end of Tuesday, hovering around 3.59 and 4.29 percent at the time of publication.

 

As a result of these trades, S&P 500 Futures have retreated from their greatest levels since early February, which were recorded the day before, and are currently trading near 4,178. Notable is the fact that the US stock futures ended their two-day winning trend with the most recent inactivity.

 

The news surrounding China and the US Federal Reserve (Fed), as well as the Fed Beige Book, can occupy Natural Gas traders until Thursday's release of weekly inventory data from the US Energy Information Administration (EIA).

 

 


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