Natural Gas Futures: Probable knee-jerk near term

Considering advanced prints from CME Group for natural gas futures markets, open interest shrank by nearly 3.5K contracts on Monday, partially reversing the previous daily build. Volume, instead, went up by almost 48K contracts after two consecutive daily drops.

Natural Gas faces initial support around $2.50

Monday’s uptick in prices of natural gas was accompanied by shrinking open interest and increasing volume, which leaves the door open to a minor corrective decline amidst the prevailing consolidative phase. So far, there is decent contention around the $2.50 region per MMBtu.

Jul 11, 2023

Sterling is likely to struggle to record further gains – Commerzbank

Economists at Commerzbank expect the British Pound (GBP) to weaken medium term as the Bank of England will continue to act hesitantly. The BoE remains

USD/JPY risks further weakness in the short term – UOB

Extra decline could see USD/JPY revisit the 140.00 neighbourhood in the next few weeks, suggest UOB Group’s Economist Lee Sue Ann and Markets Strategi