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On September 21, Federal Reserve Bank of New Yorks John Goolsby warned that the Fed cannot ignore recurring and persistent supply shocks and must respond in a way that could cause economic hardship. "Supply shocks are becoming more frequent, stronger, and longer-lasting," Goolsby said on Monday. "Once supply shocks in the inflationary space become persistent, some of the logic behind ignoring these shocks no longer holds." He added that while the Feds response to these shocks and the resulting inflation need not be as aggressive as its response to overheated demand, the process will still be painful. "This is precisely the painful trade-off between employment and inflation that stagflation shocks have always forced central banks to face," Goolsby said. "Unfortunately, in this environment, the only way back is a difficult one."On September 21st, in response to recent reports that Li Auto was preparing to supply its self-developed technology products, such as Mach chips and silicon carbide modules, to external suppliers, Li Autos Ma Donghui stated at a media briefing that the chips and silicon carbide modules could be exported. These chips are small in size, can be adapted by other manufacturers, and have strong versatility. However, Li Autos self-developed PACK packages cannot be exported. The PACK packages are customized and developed according to Li Autos own vehicle requirements and model characteristics, and their production capacity is also matched to Li Autos overall vehicle production capacity. "Some of Li Autos self-developed components that can be standardized into products can be sold externally," he said.Federal Reserves Goolsby: Restoring price stability "will not be painless."Federal Reserves Goolsby: The impact of supply shocks on inflation persists and must be taken into account when formulating monetary policy.Federal Reserves Goolsby: Strong demand could drive inflation up along with energy, tariffs and other supply shocks.

Prices of Natural Gas Increased Ahead of an Inventory Report

Daniel Rogers

May 05, 2022 11:21

Tuesday, natural gas prices soared to new 13-year highs. For the next two weeks, the weather is forecast to be mixed, with cooler temperatures on the West Coast and warmer temperatures on the East Coast. Stockpiles of natural gas are projected to grow.

 

Net storage injections totaled 40 Bcf last week, compared to 53 Bcf on average over the last five years and 18 Bcf last year during the same week. Working natural gas inventories totaled 1,490 Bcf, 305 Bcf less than the five-year average and 406 Bcf less than this time last year.

Technical Evaluation 

Natural gas prices increased on Monday, reaching a fresh intraday high of 13 years. At 5.7, support is located at the 20-day moving average. Near the June 2013 highs of 13.60, the target resistance is visible.

 

The medium-term trend has shifted to the positive. A crossover purchase signal was given by the MACD (moving average convergence divergence). The MACD histogram is in positive zone with an upward sloping trajectory, indicating that prices are likely to rise. The short-term momentum indicator has turned positive as a crossing buy signal was given by the fast stochastic.

 

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