Nostradamus Prediction 2026: The predictions that French astrologer Nostradamus made continue to attract public interest in the present times. People connect his mysterious writings to financial markets because current global uncertainty, inflation concerns, and geopolitical conflicts are increasing. The year 2026 will bring metals such as gold, silver, and copper back into public attention because both market predictions and actual market conditions will drive their value.
Nostradamus Predictions 2026 on Wealth and Metals
Nostradamus never directly mentioned gold or silver prices. His writings about economic instability, currency weakness, and social unrest revealed his belief about these economic conditions. People throughout history have used gold and silver to preserve their wealth during times when these economic factors became evident, according to expert interpretation of these themes.
Gold Price Prediction for 2026
Gold exists as the primary safe-haven investment. Gold prices will increase during 2026 because central banks increase their purchases, inflation causes market trends, and global conflicts create demand, according to current market trends. Investors seek dependable assets during periods of market uncertainty, which will keep gold prices high, according to analysts. (ESTIMATE PRICE)
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Silver Price Prediction for 2026
Silver functions as both a precious metal and an industrial material. The increasing requirement for solar panels, electronics, and electric vehicles will cause silver prices to experience fluctuating yet upward price movements during 2026. The Nostradamus-style analysis of industrial growth and warfare establishes a foundation for predicting silver demand throughout time. (ESTIMATE PRICE)
Copper Price Prediction for 2026
Copper serves as an essential component of economic development. Electric vehicles, renewable energy sources, and infrastructure development will create increased demand for copper. The combination of supply shortages and slow mining industry expansion will lead to higher copper prices, which will continue until 2026. (ESTIMATE PRICE)
What Today’s Market Signals Say
The current market indicators show strong demand for metals while their supply levels remain restricted. The ongoing inflation, together with interest rate uncertainties and global economic instability, has resulted in increased metal prices.
Nostradamus and modern economics both show that gold, silver, and copper will remain valuable assets in 2026. The actual market prices will depend on economic and geopolitical events.
Disclaimer- This is for informational purposes only and not investment advice; metal prices can fluctuate due to market risks.
Oil Price Today – Brent (BZ=F) and WTI (CL=F) pinned in the low-$60s under geopolitical and macro crossfire
CL=F and BZ=F – trading levels, volatility and weekly damage
WTI futures CL=F are holding in a tight but heavy band in the low-$60s, recently orbiting roughly $62.5–$64.0 per barrel after another soft session, while Brent BZ=F is sitting just under $68, with recent prints around $67–$68.5. Brent has traded near $68.09 and WTI around $63.9, modestly above Thursday’s close but clearly below Monday’s marks, locking in the first weekly decline of 2026 after a seven-week run-up driven more by risk premium than by demand strength. Intraday behavior is classic late-trend fatigue: one-day pops of 2–3% on U.S.–Iran headlines that fade into closes lower in the week, with CL=F oscillating around $62–$64 and BZ=F chopping between about $66.9 and $68.8 rather than establishing new momentum higher.
Geopolitics and BZ=F – U.S.–Iran Oman talks keep the Strait of Hormuz premium alive but capped
The core geopolitical driver for BZ=F is the negotiation track between Washington and Tehran in Oman. Iran exports roughly 3.4 million barrels per day and controls the Strait of Hormuz, which carries close to 20% of global oil liquids. That is why a single report about talks being “called off” can push Brent up more than 3%, as happened when BZ=F spiked toward $69.5 before retracing once Iran’s foreign minister confirmed the meeting was still on. The market is already pricing a non-zero probability of a misstep that briefly disrupts flows or triggers naval incidents around Hormuz, and that premium is embedded in BZ=F at ~$68. At the same time, the longer the two sides sit in the same room without missiles flying, the easier it becomes for macro desks to fade that risk premium and re-anchor valuations to supply, demand and inventory data rather than “what-if” scenarios.
Saudi Aramco pricing and Brent (BZ=F) – four straight OSP cuts signal softer Asian demand
The sharpest fundamental tell for BZ=F is Saudi Aramco’s decision to cut official selling prices again. For March, Aramco moved Arab Light to Asia down to parity with the Oman/Dubai average, a 30-cent cut from February and the lowest differential since December 2020. Heavier grades to Asia were cut by about $0.40 a barrel, and prices for all grades into the U.S., Northwest Europe and the Mediterranean were also reduced. When the largest exporter in the system pushes its flagship grade down to benchmark rather than commanding a premium, it is effectively admitting that refiners are pushing back on pricing and that demand does not justify aggressive differentials. For BZ=F, that means the futures strip is being held up by OPEC+ policy and geopolitics while the physical barrel is quietly being discounted to keep flows moving. That divergence is not sustainable indefinitely: either Asian product margins and refinery runs improve, or Brent’s paper market needs to adjust lower to reflect weaker realized buying power.
OPEC+, inventories and CL=F – supply restraint masks a market that is not genuinely tight
OPEC+ left output policy unchanged for March and provided no firm guidance beyond Q1. That effectively keeps a soft floor under CL=F and BZ=F: the group is willing to defend prices from collapsing into the mid-$50s but does not want to reignite a rush toward $80+ that would trigger fresh non-OPEC supply and political backlash. U.S. inventory data fit that narrative. Commercial crude stocks, excluding the SPR, fell by around 3.5 million barrels to roughly 420 million, about 4% below the five-year seasonal average. On a headline level, that looks constructive for CL=F, but it needs to be read against Saudi OSP cuts and a relatively calm spot market. Draws of a few million barrels in a world with slowing demand growth and weaker product cracks do not justify a new bull leg by themselves. OPEC+ is essentially buying time: the cartel’s discipline prevents a disorderly crash in CL=F, but absent a demand surprise the same policy also caps the upside because every rally encourages cheating, hedging and opportunistic supply.
EU sanctions, Russian barrels and BZ=F – structural support for clean benchmarks outside the “shadow fleet”
On the sanctions front, the European Union has moved from calibration to escalation. The new package bans EU financial, legal, insurance and other maritime services for any shipment of Russian crude or refined products, effectively making the G7 price cap irrelevant inside EU jurisdiction because there is no longer a compliance carve-out: Russian cargoes simply cannot access EU-linked service providers, regardless of price. That forces more Russian barrels into a smaller “shadow fleet” of older tankers operating under opaque flags and insurance, and concentrates flows into buyers such as India and China who demand deeper discounts to compensate for sanctions, logistics and financing risk. For BZ=F, this is structurally supportive. European and aligned refiners are pushed further toward non-Russian grades, strengthening demand for Brent-linked streams and North Sea blends. The impact is greatest on differentials and spreads rather than outright price: Urals and other Russian grades must trade at steeper discounts, while BZ=F maintains a firmer floor than it otherwise would at the same macro backdrop.
Technical structure in CL=F and BZ=F – range-bound with a rising trendline and a clearly defined downside trigger
Technically, CL=F is trading in a defined range with an upward bias. On the daily timeframe, WTI has been consolidating between roughly $66.4 on the topside and $62.4 on the downside in recent weeks, with a rising trendline under price that originates from the autumn lows. That trendline is where systematic and discretionary accounts repeatedly step in: each time CL=F drifts into the lower $60s and tags that line, buy programs appear, and price rotates back toward the upper band. On the four-hour chart, that dynamic is even clearer. The line is acting as a pivot for short-horizon strategies that run tight risk below it and targets toward previous local highs. The first real technical warning shot only comes if CL=F breaks decisively below that trendline and pushes toward the $58.8 region that many desks mark as the next strong support. BZ=F is behaving slightly better than CL=F, consistently holding a multi-dollar premium and finding demand when it dips into the mid-$60s. That reflects the Hormuz risk premium and stronger pull from sanctions-constrained refiners, and it keeps the Brent–WTI spread wide enough to incentivize some seaborne arbitrage into the Atlantic Basin.
Macro overlays – dollar strength, Fed tone and cross-asset risk-off limit upside for CL=F and BZ=F
Macro conditions are not set up for a runaway rally in CL=F or BZ=F. The dollar index has bounced off its lows as Fed officials lean more hawkish, explicitly saying they are not prepared to cut rates again without clean evidence that disinflation has resumed. A stronger dollar directly raises the local-currency price of WTI and Brent for non-U.S. buyers, dampening incremental demand. At the same time, risk assets more broadly are under pressure: crypto has endured forced deleveraging, equities have rolled over from recent highs and even gold and silver have seen violent two-way swings. When cross-asset volatility spikes, capital allocators reduce gross exposure across the board, and commodities are not exempt. In that environment, CL=F in the low-$60s and BZ=F near $68 are high enough that profit-taking is rational but not high enough to trigger panicked short-covering. The macro message is simple: conditions are too fragile to support a sustainable move back above the low-$70s on WTI without a new shock, yet not weak enough to justify a structural collapse below the high-$50s unless global growth data deteriorate sharply.
Positioning and flows – trimmed speculative length, normalized physical flows and a two-sided tape
Positioning in CL=F and BZ=F has normalized from the extremes seen earlier in the risk-premium build-up. Managed money has reduced net long exposure, shedding some of the trend-following length accumulated during the seven-week rally, but has not flipped into a large structural short. Books are smaller and turnover is higher, which is exactly what you expect in a noisy, headline-driven market where no single narrative dominates. Physical flows reinforce that two-sided picture. India continues to buy discounted Russian crude while watching U.S.–India trade dynamics; China is opportunistic rather than aggressive; U.S. shale producers are maintaining capital discipline and are not rushing to flood the market with incremental barrels at $62–$64 WTI. That combination means there is no obvious supply shock on the horizon, but also no wall of new demand to absorb every dip. The result is a market where CL=F can trade between roughly $58 and $68 for an extended period, with temporary breakouts on geopolitical noise and quick mean-reversions when those headlines fade.
CL=F / BZ=F – buy, sell or hold at current levels with WTI around the low-$60s and Brent just under $70
Putting the pieces together, the picture is precise. CL=F around the low-$60s and BZ=F near $68 are sitting on the intersection of four forces: a stubborn but not unlimited U.S.–Iran risk premium, Saudi and OPEC+ policy engineered to protect a floor but not a spike, sanctions that structurally support non-Russian benchmarks, and macro conditions that lean against aggressive risk-on behavior. The tape is not screaming for a collapse, because OPEC+ discipline, EU sanctions on Russian flows and U.S. inventory levels prevent a disorderly oversupply. It is also not signaling a sustainable surge, because Saudi OSP cuts, cautious Asian demand and a firm dollar cap the willingness of refiners and macro funds to pay materially higher prices. In that setting, oil exposure via CL=F and BZ=F at current levels is best treated as a controlled-risk Buy with a hard line in the sand around $58–$60 on WTI. Above that zone, the structural support from sanctions and producer discipline, plus the ever-present Hormuz premium, argues that dips are more attractive than rips. A clean break of $58 in CL=F, accompanied by weaker demand data and softer Brent, would flip that stance to neutral or outright short, but until that technical damage is done, the balance of fact-based evidence still favors maintaining upside exposure with disciplined risk controls rather than abandoning oil altogether.
The Pound to Dollar exchange rate (GBP/USD) has come under renewed pressure as a knife-edge Bank of England decision collides with rising UK political uncertainty, reviving downside risks for Sterling just as markets begin to price earlier interest-rate cuts.
A sharply divided Monetary Policy Committee and leadership speculation surrounding Prime Minister Starmer have unsettled investors, leaving GBP/USD vulnerable near key support levels amid broader FX volatility.
GBP/USD Forecasts: 10-Day Low
The Pound to Dollar (GBP/USD) exchange rate was subjected to heavy losses after the Thursday open amid UK political fears.
After a tentative recovery, there was a fresh U-turn following a dovish Bank of England policy decision with GBP/USD sliding to 10-day lows below 1.3550 before a recovery to 1.3590 as wider FX volatility spiked.
ING commented; “Today’s dovish communication from the BoE has added to a softer pound – already under pressure from local politics.”
A sustained break below the 1.3550-70 support area would risk further losses.
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The dollar secured wider gains amid weaker equities, but then retreated after a higher than expected figure for US jobless claims.
ING pointed to underlying market stresses; “A burgeoning sell-off in US tech stocks and ongoing volatility in the metals markets are providing many cross-currents for FX.”
The Bank of England (BoE) Monetary Policy Committee (MPC) held interest rates at 3.75% following the latest policy decision, in line with strong consensus forecasts.
There was, however, a very narrow 5-4 vote for the decision as Dhingra, Taylor, Ramsden and Breedon voted for a further 25 basis-point cut to 3.50%.
The majority commented that further evidence was needed on wages and inflation before having confidence in another cut.
Bailey and Mann, however, had greater confidence in the inflation outlook which suggested that they were very close to backing a cut at this meeting.
According to the dissenters, inflation risks had declined further and that policy was too restrictive which justified a further cut.
There was some relief in the bond market with the 10-year yield retreating to around 4.53% from 4.58% earlier in the session.
Following the decision, markets are pricing in 50 basis points in cuts this year compared with 35 basis points ahead of the latest decision.
According to MUFG; “It certainly looks like we could get a cut as early as the next policy meeting.”
Danske Bank Analyst Kirstine Kundby-Nielsen commented; “I think it will be pretty tight whether it will be a March or April cut, but I think the point is that, prior to this it was priced that we would see only one more cut, but now two could definitely be in play.”
According to Schroders senior economist George Brown; “Today’s rate decision was seen as a foregone conclusion, but the Bank’s close vote to hold rates suggests cuts are not a matter of if, but when.”
He sees scope for Governor Bailey to back one or two cuts over the next few months.
Nevertheless, he added; “However, the Bank will have to act soon if it intends to cut, before that window closes and the opportunity for further easing slams shut in the second half of the year.”
Political difficulties for Prime Minister Starmer have also undermined the Pound amid concerns over a challenge on Starmer which could jeopardise the position of Chancellor Reeves.
BBH commented; “GBP and gilts plunged, driven by UK political uncertainty. Prime Minister Keir Starmer is facing intense leadership speculation over his decision to appoint Peter Mandelson as US ambassador, despite knowing about his connection to Jeffrey Epstein.”
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The world’s oil demand growth is set to rise by 930,000 barrels per day (bpd) in 2026, thanks to lower oil prices and a normalization of economies after the 2025 tariff chaos, the International Energy Agency (IEA) said on Wednesday, raising its demand growth estimate by 70,000 bpd from last month.
Oil demand is forecast to grow by an average 930,000 bpd this year, accelerating from 850,000 bpd in 2025, the agency said in its closely-watched Oil Market Report for January.
In the December report, the IEA had expected global oil demand growth at 860,000 bpd for 2026.
The upgrade reflects a recovery in feedstock demand in the petrochemicals industry, on top of expectations of normalized economic conditions after the unpredictable and chaotic tariff policy of the Trump Administration last year.
The tariff threats haven’t gone away, but global trade and economies appear to have overcome the initial shock.
Despite lower output from Kazakhstan and a number of Middle Eastern OPEC producers in recent weeks, global oil supply is now projected to rise by 2.5 million bpd this year to 108.7 million bpd, following a jump of 3 million bpd in 2025, according to the IEA.
Yet, the implied surplus on the global oil market would be lower compared to last month’s estimate. In December, the IEA expected an implied surplus of 3.84 million bpd, while in the January report the implied glut is 3.69 million bpd, mostly due to the increase in the IEA’s demand growth forecast.
Inventories are rising, in both crude and products, and weigh on global oil prices, despite brief spikes driven by geopolitical developments in Venezuela and Iran, the Paris-based agency noted.
“Indeed, benchmark crude oil prices remain $16/bbl lower than a year ago, reflecting the large global supply surplus that built up over the past 12 months, in line with our forecasts,” the IEA said.
Observed global oil stocks rose by 1.3 million bpd on average in 2025, visible in the surge in oil on water, higher Chinese crude stocks, and a rise in U.S. gas liquids inventories, the agency noted.
“For now, bloated balances provide some comfort to market participants and have kept prices in check,” the IEA said.
The EURJPY pair provided several weak sideways trading, delaying the bullish trend due to its stability below 185.45 barrier, to form some mixed trading by reaching 184.35 level.
Note that stochastic exit from the overbought level might increase the negative pressures on the trading, forcing it to provide negative corrective trading, to target 183.85 level reaching the bullish channel’s support at 183.20, while breaching the barrier and holding above it will reinforce the chances of recording extra gains that might begin at 186.20.
The expected trading range for today is between 183.85 and 185.40
Trend forecast: Fluctuating within the bullish trend
Gold (XAU/USD) is trimming some losses on Friday, trading near $4,880 at the time of writing, after bounding from lows at $4.655 during the Asian session. A risk-averse market mood is providing some support to precious metals, although the US Dollar’s strength is keeping upside attempts limited for now.
Gold drew some support from weak US employment data released earlier this week, which has reactivated pressure on the Federal Reserve to ease borrowing costs further. Beyond that, investors have turned averse to risk, following a three-day sell-off on Wall Street that has spilled over into Forex markets, increasing demand for safe havens like Gold.
Technical Analysis. Potential Garltey pattern aiming to $5,340
The 4-hour chart shows XAU/USD trading at $4,876, capped below the 100-period Simple Moving Average (SMA), but with technical indicators suggesting an improving momentum. The Moving Average Convergence Divergence’s (MACD) negative histogram is contracting, and the MACD line seems about to close above the signal line. The Relative Strength Index has reached a neutral area coming from bearish levels.
The immediate trend remains negative, but Thursday’s higher low gives some hope for bulls. The upward turning indicators suggest that the pair would be in a CD leg of a Gartley pattern, aiming towards the 78.6% Fibinacci resistance of last week’s sell off, at $5,340.
Before that, however, the precious metal is likely to find resistance at the mentioned 100-period SMA, now around $4,920, and at the weekly high, in the area of $5,100. Support levels are at session lows of $4,655, and Monday’s low, at the $4,400 area.
(The technical analysis of this story was written with the help of an AI tool.)
Gold FAQs
Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.
Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.
Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.
The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.
The Pound Sterling (GBP) changed course against the US Dollar (USD), with GBP/USD giving up nearly 200 pips in a dramatic correction.
Pound Sterling gave in to the USD resurgence
GBP/USD faced a double whammy during the week, with resurgent haven demand for the US Dollar (USD) on one hand. While the dovish Bank of England (BoE) interest rate on hold decision smashed the pair on the other hand.
In doing so, the pair reversed a majority of gains seen from the beginning of this year, extending the correction from over four-year highs of 1.3869 reached on January 27.
The Greenback attracted haven demand as markets embarked on a solid rotation spree, with capital flowing out of overvalued and growth assets, such as tech stocks, Gold, Silver etc., into value assets and undermined ones like the USD.
Markets resorted to ‘sell-everything’ mode as the AI rout deepened, boosting the USD recovery against its six major currency rivals. The end of the partial government shutdown on Tuesday also helped the buck maintain its ground, despite a slew of weak US labor data and concerns over the US Federal Reserve’s (Fed) monetary policy outlook under the leadership of Kevin Warsh.
The Automatic Data Processing (ADP) Research Institute said on Wednesday, private sector employment in the US rose 22,000 in January, against a forecast of 48,000. Meanwhile, Initial claims for state unemployment benefits jumped 22,000 to a seasonally adjusted 231,000 for the week ended January 31, the Labor Department said on Thursday.
“The US December JOLTS report shows a steep drop-off in job openings to 6.54 million from a downwardly revised 6.93 million level in November,” according to ING Bank.
In the second half of the week, the dovish BoE storm pounded the Pound Sterling further. The UK central bank kept interest rates on hold at 3.75% in February.
The BoE nine-member Monetary Policy Committee (MPC) voted by a slim 5:4 majority to keep rates steady. Four members voted to lower rates.
Expectations of a sharp drop in inflation in the coming months also added to the dovish BoE outlook, fueling bets for a rate cut as early as next month.
Key US and UK economic data to watch out for
In light of the dovish tilt, the focus is now on a series of speeches from BoE policymakers, with Governor Andrew Bailey’s appearance late Sunday eagerly awaited.
A slew of Fed and BoE officials are also set to speak on Tuesday, with Monday being a data-light day.
Tuesday will also feature the US Retail Sales report and the quarterly Employment Cost Index.
On Wednesday, the delayed US January jobs data will be published, with key focus on the headline Nonfarm Payrolls print.
The quarterly and monthly Gross Domestic Product (GDP) data will be released from the United Kingdom (UK) on Thursday, followed by the US Jobless Claims data.
On Friday, BoE Chief Economist Huw Pill will participate in a fireside chat at an event hosted by Santander Bank in London ahead of the critical US Consumer Price Index (CPI) inflation report.
Besides these economic events, geopolitics will continue to grab attention amid US President Donald Trump’s erratic international policies.
The 21-, 50-, 100- and 200-day Simple Moving Averages (SMA) all rise, with the shorter ones positioned above the longer, reinforcing buyers’ control. Price holds above these markers, with the 21-day SMA at 1.3564 offering nearby dynamic support. The Relative Strength Index (RSI) stands at 51 (neutral) and has edged higher, hinting stabilizing momentum. Measured from the 1.3346 low to the 1.3868 high, the 61.8% retracement at 1.3545 offers a floor, while the 50.0% retracement at 1.3607 is the level bulls would seek to reclaim to extend the advance.
Shorter SMAs continue to advance over the medium-term ones, and the broader set trends higher, underpinning an upward bias. The pair trades above the 50-day SMA at 1.3475 and the 200-day SMA at 1.3430, keeping dip-buying interest intact. RSI near 51 remains neutral; a firm move above 60 would strengthen the upside impulse. On setbacks, the 100-day SMA at 1.3379 would serve as the next layer of support.
(The technical analysis of this story was written with the help of an AI tool.)
GDP FAQs
A country’s Gross Domestic Product (GDP) measures the rate of growth of its economy over a given period of time, usually a quarter. The most reliable figures are those that compare GDP to the previous quarter e.g Q2 of 2023 vs Q1 of 2023, or to the same period in the previous year, e.g Q2 of 2023 vs Q2 of 2022.
Annualized quarterly GDP figures extrapolate the growth rate of the quarter as if it were constant for the rest of the year. These can be misleading, however, if temporary shocks impact growth in one quarter but are unlikely to last all year – such as happened in the first quarter of 2020 at the outbreak of the covid pandemic, when growth plummeted.
A higher GDP result is generally positive for a nation’s currency as it reflects a growing economy, which is more likely to produce goods and services that can be exported, as well as attracting higher foreign investment. By the same token, when GDP falls it is usually negative for the currency.
When an economy grows people tend to spend more, which leads to inflation. The country’s central bank then has to put up interest rates to combat the inflation with the side effect of attracting more capital inflows from global investors, thus helping the local currency appreciate.
When an economy grows and GDP is rising, people tend to spend more which leads to inflation. The country’s central bank then has to put up interest rates to combat the inflation. Higher interest rates are negative for Gold because they increase the opportunity-cost of holding Gold versus placing the money in a cash deposit account. Therefore, a higher GDP growth rate is usually a bearish factor for Gold price.
U.S. natural gas futures held steady early Friday despite a record weekly storage withdrawal.
Traders are balancing the threat of late-winter weather against clues of easing demand.
February 12 will bring the next U.S. storage report, marking the upcoming key test.
U.S. natural gas futures ticked slightly higher Friday morning, hovering close to $3.50 per million British thermal units (mmBtu). Investors weighed a record storage withdrawal while anticipating the latest weather forecasts. 1
The market wrestles with two narratives at once. First, the scale of last week’s inventory drop. Second, whether forecasts continue to signal a milder period ahead, which could dampen heating demand and ease withdrawals.
Storage now acts as the key buffer against late-winter cold. Once that cushion shrinks, even minor shifts in temperature forecasts can send prices sharply higher — and they have.
Working natural gas stocks in the Lower 48 dropped by 360 billion cubic feet (Bcf) for the week ending Jan. 30. That marks the largest weekly net withdrawal ever recorded in the government’s storage data, the U.S. Energy Information Administration reported. The agency linked the steep draw to Winter Storm Fern and related supply interruptions. 2
The EIA reported working gas in storage at 2,463 Bcf for Jan. 30, marking a 360 Bcf drop from the previous week and sitting 27 Bcf under the five-year average. Despite that, inventories remain 41 Bcf higher than this time last year. The following weekly storage update is scheduled for Feb. 12. 3
The storage number was also below the median market forecast. The much-followed calendar of estimates had predicted a 379 Bcf draw, but the actual withdrawal came in at 360 Bcf, following a 242 Bcf pull from the previous week. 4
A Reuters poll before the data came out estimated a withdrawal near 374 Bcf, noting unusually elevated “heating degree days”—which track how much temperatures fall below 65°F and roughly indicate heating needs—according to LSEG figures. 5
LNG continues to play a crucial role. Cristian Signoretto, Eni’s head of global gas and LNG, said at an industry conference this week that the 2026 LNG market appears “finely balanced.” He cautioned that unexpected cold snaps or heatwaves could swiftly throw supply and demand out of alignment. 6
That said, a few analysts caution the market won’t dwell on the storage news if forecasts stay mild. “Unless we get another major blast … winter might be over soon,” Phil Flynn, senior market analyst at Price Futures Group, noted in a recent briefing. 7
There’s a clear risk for bulls here: should temperatures ease and supply keep bouncing back from weather disruptions, daily demand could fall fast. That would shrink storage withdrawals and leave futures vulnerable to another steep drop.
Traders are eyeing updated medium-range U.S. temperature forecasts through mid-February, looking for clues on LNG feedgas demand shifts. Thursday’s Feb. 12 storage report will be key to confirming whether last week’s draw was just a one-off shock or signals a tighter end-of-winter stretch.
The US dollar tried to rally against the Japanese yen early on Thursday, however, we have since seen a bit of exhaustion.
The US dollar tried to rally against the Japanese yen early on Thursday but has turned around to show signs of exhaustion. That’s not a huge surprise though because quite frankly we have been straight up in the air for a while and it does make a certain amount of sense that sooner or later sellers come in and push the market back down and of course buyers run out of momentum and new buyers to join them.
That being said this is a market that still favors the upside as far as an interest rate differential argument is concerned and with that being said short term pullbacks, I think are going to end up being buying opportunities. The 50-day EMA is going to offer support underneath and then after that we could talk about the 155-yen level.
Market Memory and Technical Support
The 158 yen level above is a significant target over the longer term and it’s an area that I think probably will have a lot of market memory attached to it because we had some type of intervention there but all things being equal any pullback from here probably offers a little bit of buying opportunity with the 200-day EMA perhaps being the absolute floor.
I don’t have any issue whatsoever in buying this pair on a pullback that bounces because not only do I get paid at the end of every day, but the overall uptrend still is strong. If we can break out above the recent swing high, then the 160-yen level becomes a very important level.
Keep in mind this is an area that’s significant on the monthly chart going back decades that we had just pulled back from so a couple of attempts before we can finally break out would not be a huge surprise to me at all. Regardless I don’t have any interest in buying the yen so I’m looking for buying opportunities here.
Christopher Lewis has been trading Forex and has over 20 years experience in financial markets. Chris has been a regular contributor to Daily Forex since the early days of the site. He writes about Forex for several online publications, including FX Empire, Investing.com, and his own site, aptly named The Trader Guy. Chris favours technical analysis methods to identify his trades and likes to trade equity indices and commodities as well as Forex. He favours a longer-term trading style, and his trades often last for days or weeks.
Copper price remains affected by stochastic negativity, forcing it to fluctuate below $5.7500 barrier, and begin forming bearish corrective waves by targeting $5.5500 level, approaching the waited target in our previous analysis.
Noting that the continuation of facing negative pressure might push the price to break $5.5100 support, and holding below it will confirm targeting new corrective stations that might begin at $5.4100 and $5.2800.
The expected trading range for today is between $5.5100 and $5.7800
