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EIA Natural Gas Report: As of the week ending September 5, total U.S. natural gas inventories were 334.3 billion cubic feet, an increase of 71 billion cubic feet from the previous week and a decrease of 38 billion cubic feet from the same period last year, a year-on-year decrease of 1.1%. At the same time, it was 18.8 billion cubic feet higher than the five-year average, an increase of 6.0%.The EIA natural gas inventory in the United States for the week ending September 5 was 71 billion cubic feet, which was expected to be 70 billion cubic feet and the previous value was 55 billion cubic feet.The U.S. EIA natural gas inventory for the week ending September 5 will be released in ten minutes.September 11th news, although the U.S. core CPI rose by 0.3% month-on-month in August, the Feds preferred inflation indicator, the "core PCE inflation index," may have risen by less than 0.2% last month. This is the conclusion reached by analysts after studying the CPI and PPI data released this week. If they are correct, the core PCE inflation rate in August may stabilize at 2.9% year-on-year, which may allow the Federal Reserve to take a more optimistic view on price pressures at its September meeting. Capital Economics analyst Stephen Brown wrote: "In short, core PCE inflation will remain on track and will not be worse than the Feds June forecast of rising to slightly above 3% by the end of the year."On September 11th, Deutsche Bank analyst Woll said in a report that the ECBs latest forecasts suggest that interest rates may remain low for longer. On the one hand, the staffs recent forecast for overall inflation was slightly raised, which means that the inflation target in 2026 will be less likely to fall short of expectations. However, the core inflation forecast was lowered to 1.8% in 2027, indicating that this below-expected situation may persist. He said: "This may have a dovish impact on monetary policy." However, he said that the ECB is in no rush to make a judgment and the interest rate pause is likely to continue.

The AUD/NZD Exchange Rate Retests Its Monthly Low Below 1.0850 As Aussie Inflation and GDP Decline

Alina Haynes

Mar 01, 2023 11:53

 AUD:NZD.png

 

The AUD/NZD pair has been heavily offered by market players after the Australian Consumer Price Index (CPI) data for the prior month experienced a sharp drop. Additional rate increases are anticipated even though RBA Governor Philip Lowe already increased the Official Cash Rate (OCR) to 3.25 percent in an effort to curb sticky inflation. This is because it would be imprudent to proclaim success in the struggle against rising price pressures.

 

Other than the Aussie inflation statistics, the Q4 Gross Domestic Product (GDP) estimates came in below expectations. The Australian Bureau of Statistics published a decrease in GDP (Q4) data from the consensus estimate of 0.8% and the Q3 number of 0.6% to 0.5%. When annualized, the Economy has met forecasts at 2.7%.

 

The New Zealand Dollar and the Australian Dollar will continue to trade despite the release of the Caixin Manufacturing PMI data. IHS Markit is expected to show an increase in economic data to 50.2 from 49.2 in the prior release.

 

While the consensus forecast called for a 1.5% rise, this week's New Zealand Retail Sales (Q4) figures showed a 0.6% decline. Future inflation in New Zealand is likely to be moderated by a decline in household demand because businesses will be compelled to give products and services at reduced rates to maintain present demand levels.


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