Natural Gas stays pressured towards 31-month low amid US Dollar rebound, mixed sentiment – by anilpanchal7 Gas Energy Commodities RiskAversion Sentiment
he burden of the US Dollar’s corrective bounce, as well as the market’s fears of easing gas demand and higher supplies.
On a different page, hopes of easing the banking crisis seem to have favored the market sentiment and drowned the US Dollar. UBS’ takeover of the troubled Credit Suisse, by paying 3 billion Swiss francs , eased the market’s baking fears. On the same line were statements from the US Federal Deposit Insurance Corporation mentioning that the deposits of Signature Bridge Bank will be assumed by a subsidiary of New York Community Bancorporation.
Moving ahead, Natural Gas traders should keep their eyes on the risk catalysts, as well as the weekly official gas inventories from the Energy Information Administration .With late February’s failure to cross the 50-DMA hurdle, currently around $2.73, Natural Gas bears are likely to approach the previous monthly low surrounding $2.17, also the lowest level since August 2020.Information on these pages contains forward-looking statements that involve risks and uncertainties.
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