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Russian Ministry of Defense: Air defense forces shot down 95 Ukrainian drones in four hours.May 24th news, US President Trump said on May 23rd local time that if the mobile phones sold by Apple in the United States are made in foreign countries, they should face at least 25% tariffs. In an interview on the same day, US Treasury Secretary Bessant said that President Trumps original intention was to bring precision manufacturing back to the United States with the help of Apples relocation of the industrial chain. In this regard, some American experts said that moving Apple mobile phones back to the United States for production is "unrealistic like a fairy tale", and Apple will pay a high cost, and the price of its products will also rise. Apple phones produced in the United States will be sold for US$3,500, or about RMB 25,100. Compared with spending huge sums of money to move production lines back to the United States, Apple hopes to increase its investment in the field of artificial intelligence.Bank of Canada Governor Macklem: The transmission effect of tariffs in price data has not yet been observed.Bank of Canada Governor Macklem: The top priority is to reach a trade agreement with the United States.On May 24, Russian Ambassador to the UK Andrei Kelin said in an interview with the Russian Satellite News Agency that British society is increasingly tired of the Ukrainian conflict and British citizens do not want their country to accept Ukrainian refugees. In response to the question of whether British society is tired of the Ukrainian issue, Kelin said: "British society is tired of the Ukrainian issue, although it is not in the majority. If a year ago we were still talking about 80% of British people supporting their governments actions in Ukraine, now this proportion is seriously declining. I dont want to reveal specific numbers because they fluctuate frequently, but the trend is obvious. This is a decline in public support. More and more people are talking about the British people being tired of Ukrainian refugees and not wanting to take them in anymore."

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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