Natural Gas Daily Fundamental Analysis
Natural gas prices rose on Monday, as expectations of hot weather conditions in Ease Coast cities in the United States boosted speculations of rising demand for power-plant fuel to meet rising cooling demand.
Expectations of warm weather conditions later this week should provide natural gas prices with more bullish momentum, since it will lead to speculations of rising demand for power-plant fuel.
Crude Oil Daily Fundamental Analysis
Crude oil prices dropped slightly on Monday, as pessimism continued to dominate markets, since U.S. lawmakers failed to reach an agreement to raise the debt ceiling ahead of an August 2 deadline after which the United States will default on its debt payments, which kept investors on their toes, and drove them away from risky assets, and accordingly crude oil prices came under negative pressure and dropped.
Traders will be focused on the latest developments in the United States regarding the debt ceiling deal, while data on consumer confidence and housing should play a minor role in crude oil prices, but the negotiations in Washington will remain the main focus for now.
Tuesday July 26:
The United States will start the week at 14:00 GMT with the Consumer Confidence survey for July which is expected with a slight decline to 57.9 from 58.5.
At the same time we also have the New Home Sales for June which are expected with 0.3% rebound following 2.1% drop to 320 thousand from 319 thousand.
Gold Daily Fundamental Analysis
Gold prices continued to gainon Monday, as U.S. lawmakers failed to reach an agreement to raise thedebt ceiling, which boosted demand for safe assets including gold, andthat provided god prices to rise earlier on Monday and set a new recordhigh above $1620 an ounce.
Traders continue to target gold as a safe haven, especially sincethey doubt U.S. lawmakers will be able to reach a compromise deal toraise the debt ceiling and reduce the deficit before an August 2,deadline set by the U.S. Treasury Department, and so long as pessimismcontinues in markets, we should expect gold prices to gain more bullishmomentum.
