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July 26th news, on the afternoon of the 26th, the reporter asked the Laotian military for confirmation. The Laotian side said that there was no exchange of fire between the Laotian and Cambodian armies, and the Lao side did not arrest the Cambodian armed personnel who illegally crossed the border. In addition, a source from the Lao Peoples Army said that the "Lao Peoples Army and Cambodian armed personnel exchanged fire" was false news. The authoritative Lao military media "Peoples Army Newspaper" said that it had not received any relevant notification. Cambodian Ministry of Defense spokesperson Mary Su Jieda also said on the same day that the relevant news was unfounded and the incident had never happened. Earlier that day, Thailands Thai Rath reported that the Laotian military issued an emergency notice on the 26th, saying that the Laotian army had a fierce exchange of fire with several Cambodian armed personnel who illegally crossed the border, arrested 10 people and seized weapons.Indian Trade Minister: India is making rapid progress in free trade agreement negotiations between the EU and the US.July 26, local time on the 25th, the California Public Utilities Commission confirmed that Tesla has not yet applied for the necessary licenses to operate self-driving cars. This decision essentially halted Teslas self-driving taxi service, which was launched on a large scale in the Bay Area of California as early as this weekend. The California Public Utilities Commission stated that Tesla has not yet received approval from the agency to provide self-driving passenger services to customers, regardless of whether they are paid or not and whether there is a human driver in the car. This means that Tesla cannot test or operate self-driving passenger services in California, and the existing license only supports the traditional taxi model.According to RIA Novosti: Russian troops occupied the village of Malyivka in the Dnipropetrovsk region of Ukraine.Hungarian Prime Minister Orban: We will not support the EU budget unless we get the suspended funds.

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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