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Fed Chair Jerome Powell testifies before Senate banking committee
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In June 2023, DG ECFIN’s flash estimate1 of the consumer confidence indicator2 improved in the EU (1.1 percentage points (pps.) up) and the euro area (1.3 pps. up). At -17.2 (EU) ...
Existing-home sales marginally increased in May, according to the National Association of REALTORS®. Sales were mixed among the four major U.S. regions, with the South and West ...
The Conference Board Leading Economic Index® (LEI) for the U.S. declined by 0.7 percent in May 2023 to 106.7 (2016=100), following a decline of 0.6 percent in April. The LEI is ...
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post at 10:13am: *POWELL'S PREPARED REMARKS IDENTICAL TO WEDNESDAY'S TESTIMONY post at 10:20am: Fed’s Powell: FOMC Broadly Feels It Will Be Appropriate to Raise Rates Again This Year and Perhaps Two More Times post at 10:22am: FED CHAIR POWELL: A STRONG MAJORITY OF COMMITTEE FEELS THERE IS A LITTLE FUTHER TO GO WITH RATE HIKES post at 10:23am: FED CHAIR POWELL: IT WOULD BE PERFECT, BUT NO GUARANTEE, THAT LABOR MARKET CAN GET INTO BETTER BALANCE WITHOUT UNEMPLOYMENT RISING post at 10:35am: FED'S POWELL: WE HAVE NOT SEEN MUCH PROGRESS IN SERVICES INFLATION.
Prior was 84B. US natural gas prices have come off the bottom in part due to higher power burn and exports to Mexico. However if there is any kind of larger rally coming, producers will need to show some discipline. At $2.60, the industry isn't making much money. This latest number won't help. post at 10:30am: US EIA Natural Gas Storage Change (BCF) 16-Jun: 95 (exp 90; prev 84) - Salt Dome Cavern Nat Gas Change (BCF): +6 (prev +5)Natural Gas price starts falling after Gas storage data beats estimates Natural Gas price starts declining on Thursday after Natural Gas Storage Change data from the Energy Information Administration (EIA) shows a suprise rise in inventories, indicating robust supply. Gas prices have been recovering due to a mixture of a weaker US Dollar and hotter-than-expected summer weather in the Western world. Temperatures in Texas, for example, are breaking records and the trend is set to continue for 7-10 days, according to forecasters. If the summer is hotter overall, it will quickly put pressure on Natural Gas supplies used in air conditioning, according to a report by Natural Gas World. XNG/USD is trading at $2.637 MMBtu, at the time of writing, entering the US session on Thursday. Natural Gas starts a leg lower on intraday charts after Natural Gas Storage data showed an unexpected rise in inventories. The commodity had been recovering amid a weaker US Dollar and heatwave demand. Norwegian outages continue to ravage the supply outlook and further underpin already low prices. If temperatures across the Western world continue to remain elevated, Natural Gas could see further gains, according to analysts.
Activity in the oil and gas sector was unchanged in second quarter 2023, according to oil and gas executives responding to the Dallas Fed Energy Survey. The business activity ...
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- Posted: Jun 22, 2023 10:05am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 4,108
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