Traders focus on summer supply for restocking ahead of the next heating season.
The US Dollar Index consolidates below 104.00 ahead of a chunky calendar.
Natural Gas (XNG/USD) is holding ground above $1.70 after the steep decline seen on Friday. Traders appear to be defining a higher floor for prices after reaching a multi-year low near $1.60 a week ago. With demand heating up for contracts and deliveries over the summer, both Russia and the US are trying to steal the market share from one another while demand remains tepid.
The US Dollar (USD) is facing a slight blow, with a basket of currencies all advancing against the Greenback. The charge is being led by the Japanese Yen, which is up near 0.50% against the US Dollar. US Traders are bracing for Durable Goods numbers and some confidence indicators later in the US session to be released.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
Hot
No comment on record. Start new comment.