Daily Alert – Tuesday 13th September 2022: Gas prices drop on EU intervention

Mark NugentDaily Alert, Sept 2022

Daily Alert – Tuesday 13th September 2022: Gas prices drop on EU intervention

Good morning.

Yesterday was risk-on.

Gas prices fell as the EU plans to intervene in the crisis. Targets to reduce electricity demand have been mooted. However, prices remain almost eight times higher than normal for this time of year. Goldman Sachs expects today’s pricing to halve by Q1 2023.

I placed a long trade on WTI at the close after a solid move up on the daily candle.

Today sees US and German inflation. Needless to say, these prints can move the market.

After missing the bus on equities last week, I will wait for a pullback. The USD, EUR and GBP are all moving against their fundamentals. When they get their act together, I will be looking closely at, in particular, GBPUSD.

I’ll be back tomorrow.

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