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The yield on the two-year U.S. Treasury note fell to a six-month low of 3.6550% and was last at 3.6611%.On April 4, local time on April 3, U.S. Secretary of Health and Human Services Robert Kennedy Jr. said that about 20% of the layoffs in the Department of Government Efficiency were wrong and needed to be corrected. The U.S. Department of Health and Human Services laid off about 10,000 people on the 1st. Kennedy said that people who should not have been laid off were laid off, and the department is restoring their positions. Kennedy said that canceling the entire lead poisoning prevention and monitoring department of the Centers for Disease Control and Prevention was one of the mistakes. At present, it is unclear what other projects Kennedy may plan to restore.Bank of Japan Governor Kazuo Ueda: Will consider the impact of food costs on consumers.On April 4, local time on the 3rd, the automobile company Stellantis said that due to the impact of the US import automobile tariff policy, the company decided to lay off 900 employees in its five US factories and suspend production operations at two assembly plants in Canada and Mexico. Antonio Filosa, Chief Operating Officer of Stellantis Americas, said that the US factories that were laid off were powertrain and stamping parts factories, which produced spare parts for two assembly plants in Canada and Mexico. According to the plan, the assembly plant in Canada will stop production for two weeks, and the assembly plant in Toluca, Mexico will suspend production throughout April. Filosa said the company is "continuing to evaluate the medium- and long-term impact of tariffs on operations."Bank of Japan Governor Kazuo Ueda: Non-weather factors may push up food prices.

Natural gas prices fall in the aftermath of the EIA inventory report

Alina Haynes

Apr 29, 2022 10:06

Natural gas prices swung back and forth on Thursday in response to the Department of Energy's inventory report. Because the data was largely consistent with expectations, the majority of the price activity was probably profit-taking at current levels. The weather is anticipated to be diverse, with temperatures dropping in the north and northeast and rising in the south and southeast.

 

Gross domestic product in the United States unexpectedly decreased by 1.4 percent in the first quarter, according to the Commerce Department. A 1% increase was anticipated. The price deflator, which is used to measure inflation, increased by 8% annually. The majority of the losses occurred in the trade balance, as imports outpaced exports. Additionally, government spending decreased. Consumer expenditure increased by 2.7 percent in the third quarter.

Technical Evaluation

Natural gas prices fell precipitously, settling down 5% at session lows. At 6.63, support is located at the 20-day moving average. Near the April highs of 8.06, the target resistance is visible. Momentum appears to have slowed, and prices are currently trading sideways inside a wide range.

 

The medium-term trend is downward. The MACD histogram is producing negative values and has a flat trend, indicating consolidation. A crossover sell signal was given by the MACD (moving average convergence divergence). The short-term momentum has flipped and become negative as a crossover sell signal was triggered by the fast stochastic.

 

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