Natural Gas Price News: XNG/USD prods three-day recovery at monthly peak near $2.50 on US Dollar rebound – by anilpanchal7 Gas RiskAppetite Fed DollarIndex Energy
Europe. In doing so, the energy instrument snaps a three-day winning streak amid sour sentiment and the latest rebound in the US Dollar.
Furthermore, Bloomberg released news suggesting China’s role in the Russia-Ukraine war, which in turn joins US President Joe Biden’s resistance in negotiating debt limit to also weigh on the sentiment. The greenback’s gauge versus six major currencies tracked downbeat yields to take a U-turn the previous day. That said, the US 10-year and two-year Treasury bond coupons dropped for the first time in four days by the end of Tuesday, sluggish around 3.59% and 4.21% by the press time.
Moving on, headlines surrounding China and the US Federal Reserve , as well as the Fed Beige Book, can entertain Natural Gas traders ahead of the weekly inventory data from the US Energy Information Administration , up for publishing on Thursday.Despite the latest pullback, the Natural Gas price remains firmer beyond the 50-DMA level of $2.46 for the first time since late 2022, which in turn keeps the XNG/USD bulls hopeful amid price-positive oscillators.
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