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January 22nd - The 2026 National Tobacco Work Conference was held in Beijing from January 18th to 19th. Regarding the work for 2026, Li Lecheng emphasized the need to prioritize the stable operation of the tobacco economy, placing it as a priority, promoting cost reduction and efficiency improvement across the entire industry chain, and accelerating the cultivation of new economic growth points; to focus on developing new quality productivity, actively integrating into the national innovation system and the layout of international science and technology innovation centers, and promoting the deep integration of technological and industrial innovation; and to focus on building a strong and high-quality modern tobacco industry system, accelerating the optimization and upgrading of the industrial structure. He also stressed the importance of strengthening market supervision, cracking down on tobacco-related illegal activities across the entire chain, and improving the regulatory effectiveness of e-cigarettes and various new tobacco-related products.On January 22, Zhijie Auto announced that its Zhijie R7 pure electric Ultra version achieved the lowest drag coefficient among mass-produced SUVs in the industry, with a measured drag coefficient of 0.217Cd at 120km/h and 23℃ in a professional wind tunnel test conducted by the China Automotive Technology and Research Center.On January 22, the Ministry of Agriculture and Rural Affairs released information at a press conference held by the State Council Information Office, showing that by 2025, my countrys agricultural modernization level will continue to improve, with the contribution rate of agricultural science and technology progress exceeding 64%. In 2025, my country will support the construction and upgrading of 75.68 million mu of high-standard farmland, bringing the cumulative total to over 1 billion mu. The seed industry revitalization action will be steadily promoted, the research and application of agricultural machinery and equipment will accelerate, the application scenarios of smart agriculture will expand across the entire chain, and the pace of green transformation in agriculture will accelerate.On January 22, according to Qichacha APP, Haixun Aurora New Energy Automotive Components (Beijing) Co., Ltd. was recently established with a registered capital of 100 million yuan. Its business scope includes: manufacturing of auto parts and accessories; wholesale of auto parts; retail of auto parts; and sales of electronic components and electromechanical equipment. Qichachas equity penetration analysis shows that the company is wholly owned by Beijing Hainachuan Automotive Components Co., Ltd., a subsidiary of Beijing Automotive Group Co., Ltd.Hong Kong-listed gold stocks retreated, with Everest Gold (01815.HK) and Datang Gold (08299.HK) falling by more than 4%, while Zhaojin Mining (01818.HK), Lingbao Gold (03330.HK), and Chifeng Gold (06693.HK) fell by 3.5%.

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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