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XNGUSD
US natural gas
Past performance is not an indication of future results.
About
Natural gas is mainly used as fuel, which can be used to produce carbon black, chemicals and liquefied petroleum gas. Propane and butane produced from natural gas are important raw materials for modern industry.
Factors affecting XNGUSD
1.Supply and demand. Price falls when supply exceeds demand, and rises when demand exceeds supply. 2. Major political events. Natural gas has the attributes of both commodities and strategic resources. 3. Cost factor. The extraction cost of natural gas is one of the important factors affecting the price and output of natural gas, and it determines the baseline of natural gas pricing. 4. Fluctuation in the price of alternatives. The price of some alternative fuels to natural gas would influence the pricing of natural gas products to a certain extent.
Economic data affecting the natural gas price (ordered in terms of importance)
1. Changes in U.S. natural gas inventories 2. Interest rate decisions of the Federal Reserve 3. U.S. Non-farm Payroll data (NFP)
