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On April 3, White House aide Peter Navarro said that US President Trump’s tariffs could increase revenue by three times the size of the World War II tax increase in 1942, and could become the largest tax increase in US history.On April 3, a research report by CLSA indicated that ChinaSoft International (00354.HK)s revenue fell 1% year-on-year to RMB 16.951 billion last year, and the first disclosed AI-related revenue was RMB 957 million, accounting for 5.6% of revenue. The companys price reduction strategy has led to a decline in gross profit margin, and the main reason for the lower-than-expected net profit is a one-time impact. The bank expects the companys fundamentals to improve this year, mainly because the number of employees increased in the second half of last year. The bank expects the companys net profit to reach RMB 748 million this year, up 45.8% year-on-year, and lowered the target price from HK$7 to HK$6.5, maintaining the rating of outperforming the market.On April 3, the Australian bond market has experienced a dovish turn since the White House announced its new tariff agenda. IG market analyst Tony Sycamore said that the market has priced in an 85% chance that the Reserve Bank of Australia will cut interest rates by 25 basis points in May. Subsequent rate cuts are expected in August and November, with a cumulative rate cut of 75 basis points by November. He added that US tariffs have far exceeded expectations, increasing the likelihood of a trade war and recession in the United States. He also said that since goods from countries such as Vietnam are now effectively shut out of the United States, cheap goods are expected to flood other Asian markets.Japan’s Chief Cabinet Secretary Yoshimasa Hayashi declined to comment when asked about the possibility of retaliation against U.S. tariffs.Japanese Chief Cabinet Secretary Yoshimasa Hayashi: We believe that the recent US tariff measures may have a significant impact on the multilateral trading system, and we strongly call on the United States to exclude Japan from these measures.

Natural Gas Price Prediction - Prices to Rise on EIA's Positive Prognosis

Alina Haynes

May 12, 2022 11:06

Natural gas prices rose substantially for the second consecutive trading session on Wednesday. The National Oceanic and Atmospheric Administration predicts that for the next 6 to 10 days, the majority of the South will see weather that is warmer than average. In the upcoming week, it is anticipated that inventories would increase.

 

The most recent week is anticipated to see a 66 Bcf increase in natural gas stockpiles, according to survey provider Estimize. The release follows the addition of 55 Bcf to stockpiles. In its short-term energy forecast, the EIA projected that natural gas prices will average $8.4 per MMBtu in 2022. 

Technical Evaluation

Wednesday saw a significant increase in natural gas prices, the second straight day of gains. Prices reclaimed resistance, which is presently providing support close to the 20-day moving average at 7.32. Resistance is anticipated near the May highs, at $8.99.

 

As the fast stochastic generated a crossing buy signal, near-term momentum has turned positive.

 

Negative momentum has developed in the medium term. The MACD (moving average convergence divergence) signaled a sell crossover. This occurs when the MACD line (12-day moving average minus 26-day moving average) crosses beneath the MACD signal line (the 9-day moving average of the MACD line).

 

The MACD histogram is in negative territory and sloping downward, indicating that prices will decline.


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