Natural Gas eases near 1% on Thursday after a stellar 8% surge earlier in the week.
Some profit-taking took place after headlines emerged that Ukraine forces entered Russia.
The US Dollar index eases after a two-day recovery.
Natural Gas price (XNG/USD) eases on Thursday after a steep surge that exceeded 8% gains over Tuesday and Wednesday. The surge came on the back of headlines that Ukrainian forces crossed the Russian border and were targeting Russian installations in the Kursk region. The risk that Russia would further limit or fully cut off the Gas supply towards Europe on the back of that news got priced in as of Tuesday.
Meanwhile, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, is easing as well after Dollar bulls were unable to push it above an important level. The risk now is that this technical rejection might result in more downturns for the US Dollar (USD). The weekly US Jobless Claims data on Thursday will be the main economic event for this week, and there might be a surge in volatility.
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