Natural Gas is trading at $2.474, 0.03% up since previous close. The slight pullback can be seen in Natural gas prices on Tuesday after sliding down to lower levels in the last week. The stronger U.S NFP data arouses the chances of interest rate hikes in the next FOMC meeting & hence, USD strengthened. & commodities softened. The recent U.S Energy Information Administration (EIA) report showed a fall in Natural gas storage levels by 151B against the pervious figure of 91B. The slow-down in Oil prices pressurized its substitutes like Natural gas. The changes in European regions & U.S may affect the consumption demand of heating fuels; further making commodities more vulnerable. Wait & watch strategy may be suggested for the day in Natural Gas.

Copper traded at $8882.3, 0.23% down since previous close. The Copper witnesses the downside amid mixed global cues over chances of higher interest rate hike in the future FOMC meetings which may curtail down the demand of metals. Last week, the soft USD after U.S FOMC hiked an interest rate by 25bps as expected on account of controlled inflation rate till now; turned up bullish for base metals. Earlier, improving Chinese economic conditions may increase the consumption demand of industrial metals like Copper & Silver; which shoots up the prices also. The outcome of Fed Chair Powell speech will remain in focus today. Slight selling pressure may be established for the day since the commodity is expected to breach the Fibo level 38.2 on intraday basis.