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On August 4th, analysts noted that international oil prices fell as a series of weak US economic data raised concerns about the demand outlook. "A significant cooling in the US job market and the fastest contraction in factory activity in nine months have fueled market concerns about weakening crude oil demand," ANZ Research said in a report. Furthermore, the news that OPEC+ reached an agreement over the weekend to increase production by 547,000 barrels per day starting in September also weighed on oil prices.Japans base money annual rate in July was -3.9%, compared with -3.50% in the previous month.Gold prices dipped slightly in early Asian trading on August 4th, possibly due to a technical correction following a nearly 1.7% surge in futures prices last Friday. However, the downside for gold prices may be limited as market expectations for a Fed rate cut continue to rise, boosting golds appeal. Market analyst Fawad Razaqzada stated that the employment data released last Friday "was undoubtedly a wake-up call." "One of the Feds dual mandates is employment, and this data sends a clear signal of weakness. Doves are gathering."On August 4th, an article reported that the recent meeting of the Political Bureau of the CPC Central Committee, in its deployment of economic work for the second half of the year, called for the implementation of the spirit of the Central Urban Work Conference and the high-quality development of urban renewal. To accomplish this task, promoting the redevelopment of inefficient urban land is both urgent and essential. Next, efforts will continue to optimize the use of urban industrial and commercial land, allowing independent or joint renovations to new planned uses. Support will be provided to original industrial and commercial land users to redevelop inefficient land according to planned uses, subject to compliance with national land and space planning. Support will also be provided for the transformation of inefficient commercial and service land. The revitalization of inefficient industrial land will be encouraged, along with the exploration of market-based repurchase and exit paths for inefficient industrial land. The orderly remediation of inefficient collective land will be promoted and brought to market. Furthermore, efforts will be made to promote mixed land development and the rational conversion of land uses. Concerns will be raised regarding the conversion of industrial, logistics, warehousing, and R&D land, as well as the conversion of subdivided land types within commercial and service land, subject to compliance with national land and space planning.Xiabu Xiabu (00520.HK) announced that it expects to record a net loss of between approximately RMB 80 million and RMB 100 million for the six months ended June 30, 2025, a significant narrowing of the loss compared with the same period in 2024, with a decrease of approximately 63.2% to 70.5%.

Natural Gas prices fall below $2.70 despite USD Index attempts to recover, and demand concerns grow

Alina Haynes

Mar 14, 2023 13:12

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After a perpendicular recovery to close to $2.70 in the Asian session, Natural Gas futures have turned sideways. Weakness in the US Dollar Index (DXY), in general, has aided the upward bias in natural gas prices. Natural Gas futures appear vulnerable near $2.70 as the USD Index has demonstrated a recovery move to near 103.90 as investors become anxious ahead of the release of the United States Consumer Price Index (CPI) data.

 

The Federal Reserve's decision to raise interest rates is anticipated to have a negative impact on industrial demand for natural gas (Fed). The market anticipates that Fed chair Jerome Powell's scheduled rate hikes will lead to a recession in the near future.

 

Meanwhile, Winter is nearing its conclusion and summer has not yet arrived. Consequently, demand for residential purposes to heat domestic spaces will remain low. Additionally, because residences will require less electricity to operate air conditioners, power companies are less reliant on natural gas.

 

The recent decline in the USD Index is what has given Natural Gas prices new life. The US Energy Information Administration's (EIA) inventory data, which is released every Thursday, will dominate this week's trading in Natural Gas futures.

 

Going forward, investors eagerly anticipate the publication of US inflation data in order to form a new consensus. According to the projections, the headline CPI could fall to 6.0% from the previous release of 6.4%. And, core inflation, which excludes crude and food prices, is anticipated to decrease slightly to 5.5% from the previous release of 5.6%.

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