Natural gas prices fall as investors lock in profits and sell

Natural gas prices fell on Friday after investors locked in gains from Thursday's rally and sold the commodity for profits.

Prices shot up on Thursday after official U.S. data revealed stockpiles rose less than markets were expecting.

In the New York Mercantile Exchange, natural gas futures for delivery in July traded at USD3.763 per million British thermal units, down 1.35%.

The commodity hit a session low of USD3.754 and a high of USD3.832.

The U.S. Energy Information Administration said in its weekly report on Thursday that natural gas storage in the U.S. in the week ended June 7 rose by 95 billion cubic feet, below market expectations for an increase of 96 billion.

Inventories rose by 66 billion cubic feet in the same week a year earlier, while the five-year average change for the week is a rise of 84 billion cubic feet.

Total U.S. natural gas storage stood at 2.347 trillion cubic feet as of last week. Stocks were 587 billion cubic feet less than last year at this time and 58 billion cubic feet below the five-year average of 2.405 trillion cubic feet for this time of year.

The report showed that in the East Region, stocks were 102 billion cubic feet below the five-year average, following net injections of 57 billion cubic feet. 

Stocks in the Producing Region were 2 billion cubic feet below the five-year average of 915 billion cubic feet after a net injection of 25 billion cubic feet.

The data sent prices gaining to levels ripe for profit taking on Friday, as did forecasts for temperatures to rise to above-normal levels for late June.

Elsewhere on the NYMEX, light sweet crude oil futures for delivery in July were up 1.08% and trading at USD97.73 a barrel, while heating oil futures for July delivery were up 0.93% at USD2.9667 per gallon.

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Gold gains in choppy trading, awaits cue from Federal Reserve

Gold prices rose in choppy trading on Friday after investors viewed the commodity as oversold after uncertainty over whether or not the Federal Reserve will scale back monetary stimulus measures sent prices plummeting in recent sessions.

On the Comex division of the New York Mercantile Exchange, gold futures for August delivery were up 0.82% at USD1,389.05 a troy ounce in U.S. trading on Friday, up from a session low of USD1,377.85 and down from a high of USD1,391.65 a troy ounce.

Gold futures were likely to test support USD1,366.25 a troy ounce, Tuesday's low, and resistance at USD1,423.25, Thursday's high.

Gold prices fell on Thursday amid uncertainty over the fate of Federal Reserve stimulus measures, which tend to make gold an attractive hedge.

By Friday, investors viewed the commodity as oversold though mixed data allowed for choppy trading.

The U.S. Bureau of Labor Statistics reported earlier that the U.S. producer price index, which includes food and energy, rose 0.5% in May, beating expectations for a 0.1% rise after a 0.7% decline the previous month. 

The core producer price index, which is stripped of the more volatile food and energy costs, rose 0.1% last month, in line with expectations, after a 0.1% gain in April. 

However, the Federal Reserve reported earlier industrial production in the U.S. came in flat in May, missing expectations for a 0.2% rise though up from a 0.4% contraction the previous month.

Weaker-than-expected consumer sentiment data capped the dollar's gains.

Thomson Reuters/University of Michigan's preliminary consumer sentiment index fell to 82.7 in June from 84.5 in May.

Analysts were expected the reading to remain unchanged at 84.5.

Elsewhere on the Comex, silver for July delivery was up 2.22% at USD22.063 a troy ounce, while copper for July delivery was up 0.15% and trading at USD3.190 a pound.

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Forex - EUR/USD dips on improving U.S. wholesale pricing data

The dollar rose against the euro on Friday after wholesale pricing data beat expectations and painted a picture of a U.S. economy that continues to expand, though disappointing consumer sentiment numbers dampened the greenback's advance.

In U.S. trading on Friday, EUR/USD was down 0.22% at 1.3345, up from a session low of 1.3296 and off from a high of 1.3375.

The pair was likely to find support at 1.3177, Monday's low, and resistance at 1.3375, the earlier high.

The U.S. Bureau of Labor Statistics reported earlier that the U.S. producer price index rose 0.5% in May, beating expectations for a 0.1% rise after a 0.7% decline the previous month. 

The core producer price index, which is stripped of the more volatile food and energy costs, rose 0.1% last month, in line with expectations, after a 0.1% gain in April. 

However, the Federal Reserve reported earlier industrial production in the U.S. came in flat in May, missing expectations for a 0.2% rise though up from a 0.4% contraction the previous month.

Weaker-than-expected consumer sentiment data capped the dollar's gains.

Thomson Reuters/University of Michigan's preliminary consumer sentiment index fell to 82.7 in June from 84.5 in May.

Analysts were expected the reading to remain unchanged at 84.5.

In the eurozone, official data revealed that the consumer price index remained unchanged in May at an annualized rate of 1.4%, in line with expectations. 

Core consumer price inflation in the single currency bloc, which is stripped of food, energy, alcohol and tobacco items, rose to an annualized rate of 1.2% last month from 1% the previous month, in line with expectations.

The euro, meanwhile, was down against the pound and down against the yen, with EUR/GBP trading down 0.05% at 0.8504, and EUR/JPYtrading down 0.96% at 126.34.

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Forex - USD/CAD edges higher after U.S., Canadian data

The U.S. dollar edged higher against its Canadian counterpart on Friday, after positive U.S. data boosted demand for the greenback, while a disappointing economic report out of Canada weighed on the loonie. 

USD/CAD hit 1.0187 during early U.S. trade, the session high; the pair subsequently consolidated at 1.0171, adding 0.12%. 

The pair was likely to find support at 1.0150, the low of May 16 and resistance at 1.0227, Thursday's high. 

Official data showed that U.S. producer price inflation, including food and energy, rose 0.5% in May, beating expectations for a 0.1% rise, after a 0.7% decline the previous month. 

Core producer price inflation rose 0.1% last month, in line with expectations, after a 0.1% gain in April. 

However, a separate report showed that industrial production in the U.S. was flat in May, confounding expectations for a 0.2% rise, after a 0.4% fall the previous month. 

The data came one day after better-than-expected U.S. economic reports boosted expectations that the Fed will unwind its asset purchase program later this year. 

The U.S. Department of Labor said on Thursday that the number of people who filed for unemployment assistance in the U.S. last week fell by 12,000 to 334,000, compared to expectations for a decline of 1,000 to 345,000.

Separately, the Commerce Department said U.S. retail sales rose 0.6% in May, led higher by increased automobile purchases, beating forecasts for a 0.4% increase. 

In Canada, official data showed that manufacturing sales dropped 2.4% in April, disappointing expectations for a 0.3% rise, after a 0.6% fall the previous month. 

The loonie was higher against the euro with EUR/CAD losing 0.22%, to hit 1.3554. 

Later in the day, the U.S. was to publish preliminary data from the University of Michigan on consumer sentiment.

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Forex - EUR/USD pushes lower after positive U.S. data

The euro pushed lower against the U.S. dollar on Friday, after the release of positive U.S. data added to expectations for the Federal Reserve to scale down its stimulus program later this year. 

EUR/USD hit 1.3299 during European afternoon trade, the session low; the pair subsequently consolidated at 1.3302, declining 0.55%. 

The pair was likely to find support at 1.3233, the low of June 11 and resistance at 1.3375, the session high. 

Official data showed that U.S. producer price inflation, including food and energy, rose 0.5% in May, beating expectations for a 0.1% rise, after a 0.7% decline the previous month. 

Core producer price inflation rose 0.1% last month, in line with expectations, after a 0.1% gain in April. 

The data came one day after better-than-expected U.S. economic reports boosted expectations that the Fed will unwind its asset purchase program later this year. 

The U.S. Department of Labor said on Thursday that the number of people who filed for unemployment assistance in the U.S. last week fell by 12,000 to 334,000, compared to expectations for a decline of 1,000 to 345,000.

Separately, the Commerce Department said U.S. retail sales rose 0.6% in May, led higher by increased automobile purchases, beating forecasts for a 0.4% increase. 

In the euro zone, official data showed that consumer price inflation remained unchanged in May at an annualized rate of 1.4%, in line with expectations. 

Core consumer price inflation in the single currency bloc, excluding food, energy, alcohol and tobacco rose to an annualized rate of 1.2% last month, from 1% the previous month, in line with expectations. 

The euro was steady against the pound with EUR/GBP dipping 0.01%, to hit 0.8505. 

Later in the day, the U.S. was to publish a report on industrial production and preliminary data from the University of Michigan on consumer sentiment.

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European stocks mixed after data, eyes on U.S.; Dax up 0.22%

European stocks were mixed Friday, after euro zone inflation data came in in line with expectations, while Thursday's better-than-expected U.S. economic reports continued to lead global equities higher.

During European afternoon trade, the EURO STOXX 50 inched 0.01% higher, France’s CAC 40 dipped 0.01%, while Germany’s DAX 30 added 0.22%.

Official data showed that consumer price inflation in the euro zone remained unchanged in May at an annualized rate of 1.4%, in line with expectations.

Core consumer price inflation, which excludes food, energy, alcohol and tobacco rose to an annualized rate of 1.2% last month, from 1% the previous month, in line with expectations.

Elsewhere, the U.S. Department of Labor said on Thursday that the number of people who filed for unemployment assistance in the U.S. last week fell by 12,000 to 334,000, compared to expectations for a decline of 1,000 to 345,000.

Separately, the Commerce Department said U.S. retail sales rose 0.6% in May, led higher by increased automobile purchases, beating forecasts for a 0.4% increase. 

Core retail sales, which exclude auto sales, were up 0.3%, in line with expectations.

Financial stocks were mixed, as shares in French lenders BNP Paribas and Societe Generale added 0.20% and 1.72%, while Germany's Deutsche Bank slipped 0.13%.

Among peripheral lenders, Spanish banks BBVA and Banco Santander gained 0.60% and 0.74% respectively, while Italy's Intesa Sanpaolo and Unicredit declined 0.30% and 0.51%.

Elsewhere, Fiat retreated 0.89% amid reports the Italian carmaker may sign a deal with nine banks this month to refinance EUR1.95 billion in credit to prepare to buy the remaining stake in Chrysler.

Barry Callebaut was also on the downside, plummeting 1.91%, after the supplier to Nestle sold new shares to generate CHF279 million. The shares were being offered at CHF870 to CHF880.

In London, FTSE 100 slipped 0.18%, erasing earlier gains.

Mining giants Rio Tinto and BHP Billiton remained sharply higher, surging 2.10% and 1.59%, while Anglo American jumped 1.20%.

Meanwhile, financial stocks remained mixed. Barclays and Lloyds Banking rose 0.25% and 1.29%, while HSBC Holdings and the Royal Bank of Scotland tumbled 1.01% and 1% respectively.

In the U.S., equity markets pointed to a lower open. The Dow Jones Industrial Average futures pointed to a 0.11% loss, S&P 500 futures signaled a 0.13% decline, while the Nasdaq 100 futures indicated a 0.08% fall.

Later in the day, the U.S. was to publish data on producer price inflation, industrial production, the capacity utilization rate, the current account and preliminary data from the University of Michigan on consumer sentiment.

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U.S. futures lower, eyes on data; Dow Jones down 0.14%

U.S. stock futures pointed to a lower open on Friday, after Thursday's upbeat U.S. economic reports boosted expectations that the Federal Reserve will unwind its asset purchase program later this year. 

Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.14% loss, S&P 500 futures signaled a 0.16% fall, while the Nasdaq 100 futures indicated a 0.11% decline. 

The Department of Labor said on Thursday that the number of people who filed for unemployment assistance in the U.S. last week fell by 12,000 to 334,000, compared to expectations for a decline of 1,000 to 345,000.

Separately, the Commerce Department said U.S. retail sales rose 0.6% in May, led higher by increased automobile purchases, beating forecasts for a 0.4% increase. 

Core retail sales, which exclude auto sales, were up 0.3%, in line with expectations. 

Aircraft manufacturers were likely to be in focus, amid reports Boeing, rebounding from the 787 Dreamliner’s three-month grounding, is moving closer to a further production increase that would reward investors by freeing up billions of dollars for dividends and buybacks. 

Boeing shares were down 0.16% in pre-market trade. 

Separately, the A350-XWB, the first all-new commercial jet from Airbus in more than six years, took its firts flight on Friday. 

Gannett was also expected to remain active for the second consecutive session as shares soared over 34% on Thursday after the U.S. newspaper chain announced plans to buy television company Belo for USD1.5 billion. 

Gannett was up 0.26% in early trading, while Belo slipped 0.15%. 

Also in company news, SoftBank and its takeover target Sprint Nextel told regulators that rival suitor Dish Network's complaint of a broken pledge requiring fresh regulatory scrutiny of the deal is "nonsensical." 

Across the Atlantic, European stock markets were higher. The EURO STOXX 50 added 0.16%, France’s CAC 40 edged up 0.09%, Germany's DAX rose 0.34%, while Britain's FTSE 100 eased up 0.07%. 

During the Asian trading session, Hong Kong's Hang Seng Index gained 0.39%, while Japan’s Nikkei 225 Index rallied 1.94%. 

Later in the day, the U.S. was to publish data on producer price inflation, industrial production, the capacity utilization rate, the current account and preliminary data from the University of Michigan on consumer sentiment.

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Forex Trading Signal for 14th June 2013

                                                                                


Japan (Tokyo)                               United Kingdon (London)                        USA (New York)

For more easy access,,,,,,Download our mobile application on your mobile :   Click Fxsignals 

EUR/USD

 Up Trend :

 (1) BUY

E/P: 1.33517

T/P: 1.33900

S/L: 1.33000

 (2) SELL

E/P: 1.33516

T/P: 1.33300

S/L: 1.33900

GBP/USD

UP Trend:

(1) BUY

E/P: 1.57037

T/P: 1.57400

S/L: 1.56600

(2) SELL

E/P: 1.57065

T/P: 1.56800

S/L: 1.57500

NOTE: The above posted Signals are delayed 2 - 4 hours after it has been  generated.
Daily forex signals are sent ontime to only our subcribers.

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