Natural Gas Futures: A deeper decline is not favoured - FXStreet
Natural Gas Futures: A deeper decline is not favoured
Considering advanced prints from CME Group for natural gas futures markets, open interest shrank for the second straight session on Thursday, now by around 1.7K contracts. In the same line, volume dropped for the third consecutive day, this time by around 12.6K contracts.
Natural Gas: Solid support remains around $2.50
Prices of the natural gas added to Wednesday’s retracement on Thursday. The bearish move was against the backdrop of diminishing open interest and volume and suggests a low probability of further decline in the very near term. So far, the commodity faces a decent contention around the $2.50 region per MMBtu.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Follow us on Telegram
Stay updated of all the news
Recommended content
Editors’ Picks
EUR/USD hits 1.0700 for the first time in almost three weeks, DXY under pressure
EUR/USD rose further on Friday and peaked at 1.0700, the highest level since February 20. Despite the stronger-than-expected NFP growth, the DXY is falling by more than 0.70% and US yields are sharply lower. The jobs report showed an increase in the Unemployment Rate in February. EUR/USD News
GBP/USD trims gains after reaching weekly highs above 1.2100
GBP/USD gained traction and climbed to 1.2113, the highest in a week, on Friday amid broad US Dollar weakness. The US jobs report for February showed strong gains in jobs but an increase in the unemployment rate and wages cooling down to the slowest growth in a year. GBP/USD News
Gold soars and turns positive for the week above as US yields plunge
Gold price jumped to $1,867 on Friday, reaching the highest level in three weeks. Data from the US showed employers added 311K jobs in February surpassing expectations; but an increase in the Unemployment Rate and slow wage growth. US yields slumped, fueling XAU/USD's upside. Gold News
Bitcoin recovers modestly after US Nonfarm Payrolls
The United States Nonfarm Payrolls (NFP) data showed the US economy added 311,000 jobs in February, surpassing forecasts of a 205,000 gain. The month of February was expected to note a relatively lesser increase in the jobs report as compared to January. Read more
Solid hiring continued in February, but slowdown in store
Job growth remained hot in February with 311K new jobs added. And while hiring remained on a roll, there were hints that strong job growth need not come at the expense of fanning inflation pressures.
Read more