Natural Gas plunges sharply on Monday amid China’s decelerating growth

• Natural Gas declines at the beginning of the week following the EU Gas storage report.
• Chinese economic indicators show renewed deterioration, which has softened Gas demand.
• The US Dollar index trades erratically in response to the weekend shooting involving Trump.

Natural Gas prices (XNG/USD) decline amid a combination of bearish factors: China’s GDP falling to 4.7% versus an expected 5.1%, and Germany’s gas storage levels exceeding 85% of capacity targets. Traders who anticipated higher Gas prices are experiencing significant losses, despite betting on delays in reopening the Texas Freeport plant, which remains shut following Hurricane Beryl last week.

Meanwhile, the US Dollar Index (DXY), reflecting the Dollar’s value against major currencies, trades with volatility. Other asset classes react to the shooting of former US President Donald Trump, with equities rising and the bond market selling off. There’s speculation that this event could boost Trump’s electoral prospects, potentially leading to policies that increase the US deficit and raise concerns about escalating national debt.