Natural Gas jumps this Thursday in an attempt to snap the losing streak.
Traders are sending Gas prices higher in a technical bounce.
The US Dollar Index eased a touch and offers a window of opportunity for Gas to recover a touch.
Natural Gas (XNG/USD) has hit a fresh low overnight by hitting $1.64, which is the low of July 20th 2020. This further decline comes with a mix of sluggish demand, bleak outlooks and overall economic growth slowing down across the globe. Meanwhile the situation in the Middle East is not disrupting the Gas flow out of the region, which means a substantial oversupply in lower-than-normal demand.
The US Dollar (USD) is retreating a touch from its peak performance on Tuesday. Markets have digested the hot inflation report that came out with several analysts, economists and even US Federal Reserve member Austan Goolsbee commenting that this inflation report was a one off. The disinflationary path is still very much intact and cuts are set to come this year.
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