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February 23, local time on February 23, Russian presidential press secretary Peskov responded to Ukrainian President Zelenskys remarks after the meeting between Russia and the United States. He stressed that the negotiation process between the Russian and American heads of state on the Ukrainian issue should not be hindered in any way, and the two sides should smoothly realize their respective political will. Peskov specifically pointed out that Donetsk and other four places will not conduct any form of transactions or transfers. In 2022, after the outbreak of the Russian-Ukrainian conflict, Luhansk, Donetsk, Zaporizhia, and Kherson joined the Russian Federation through referendums in September of that year. Recently, the United States proposed a so-called "rare earth for aid" mineral cooperation agreement to Ukraine. Ukraine has rich rare earth reserves, of which lithium and titanium are the main components of Ukraines rare earth resources. Although Ukraines key mineral resources are diverse, some of them are already under the control of Russia. On February 20, local time, Ukrainian President Zelensky said that he was ready to reach an agreement with the US President on investment and security issues.According to a Reuters/Ipsos poll on February 23, 58% of Americans said that inflation would be an important factor in their voting in future elections, and 32% approved of Trumps approach to inflation. 55% said that deporting illegal immigrants would be an important factor, and 47% approved of Trumps approach to immigration.SHEINs sales in 2024 increased by 19% to $38 billion; net profit decreased by nearly 40% to $1 billion.Russias Defense Ministry said Russian troops captured Ulakli and Novoderivka in eastern Ukraine.Ukraine said Russia launched 267 drones at Ukraine overnight, 138 of which were shot down.

Natural Gas Price Prediction: XNG/USD recovers from its largest daily loss in a month to trade near $2.20 on sluggish markets

Alina Haynes

Apr 13, 2023 14:06

截屏2023-01-19 下午3.42.24.png 

 

Early Thursday morning in Europe, the price of Natural Gas (XNG / USD) fluctuates around $2.22. In doing so, the energy instrument justifies the market's inaction while searching for additional clues for a clear direction after declining the most in a month the day before.

 

Nonetheless, growing concerns of recession, or at least weaker growth numbers, in the West combined with discussions of Northern Ireland's (NI) prohibition on Russian gas imports to weigh on XNG/USD prices the day before. Notably, China's disappointing inflation data also put downward pressure on the price of Natural Gas before the dragon nation's recent trade data provided a tailwind.

 

Headlines from the International Monetary Fund (IMF) and the World Bank (WB) indicate apprehensions of sluggish growth, if not recession, for the global economy in the future. On the same line could be macros predicting milder weather in the West and more restrictions on Russian gas from countries on the old continent, specifically Europe.

 

Notably, however, weak US inflation and dovish Fed Minutes impact on the US Dollar, allowing the XNG/USD to consolidate yesterday's losses as traders search for additional catalysts following a volatile Wednesday.

 

Ten-year and two-year Treasury bond yields in the United States show modest gains of 3.41 and 3.91 basis points, respectively, while reflecting the current state of the economy. In spite of this, US 10-year Treasury bond yields halted a three-day uptrend with modest losses to around 3.40 percent, while the two-year counterpart yielded the first daily decline in five days to reach 3.96 percent. Moreover, despite Wall Street's disappointing close, S&P 500 Futures post modest gains, whereas Japan's Nikkei 225 index is currently up 0.60 percent intraday.

 

The US Energy Information Administration (EIA) Natural Gas Storage Change for the week ending April 7, prior -23B, will be crucial for intraday direction moving forward. Nevertheless, the US US Producer Price Index (PPI) for March and Friday's preliminary readings of the Michigan Consumer Sentiment Index for April, as well as risk catalysts, may also attract XNG/USD traders' attention.


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