Natural Gas Hits 1-Month High
In Thursday’s economic
news, Initial Jobless Claims showed an unexpected decline
(report),
manufacturers in New York saw improved business conditions (report),
foreign purchases of US securities declined in April (report),
Industrial Production fell unexpectedly in May (report)
and the June Philly Fed Index showed a slowdown in growth (report).
As if all that wasn’t enough, Fed Chairman Ben Bernanke gave a speech at the
Economic Club of Chicago (report).
Treasuries responded to the news by closing lower, pushing yields higher.
The US Dollar Index closed fractionally lower, as the Dollar lost ground to all
the majors except the Swiss Franc.
The EIA reported Natural Gas inventories rose by 77 BCF. Natural Gas futures
responded by jumping higher and closing at a one-month high.
All the softs closed higher, led by Orange Juice.
The grains were mixed, with Corn -1.69% the only notable mover.
Economic News
Initial Jobless Claims Down 8,000 To 295,000 (report)
NY Empire State Index At 29.0 (report)
US April Net Capital Inflows $48.7 Bln. (report)
Industrial Production Down 0.1% In May (report)
EIA – Natural Gas Inventories Rise 77 BCF
June Philadelphia Fed Factory Index At 13.1 (report)
For more reports and analysis go to our
Economic
News section.
Ashton Dorkins
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