• Natural Gas price is back into its selling modus, accumulating three consecutive sessions of losses. 
• Gas demand in Europe sinks further as industrial production contracted more than expected in January.
• The US Dollar Index trades below 103.00 after failing to break higher on Tuesday. 

Natural Gas (XNG/USD) trades well below $2.00 on Wednesday, extending its steep decline last week. More and more selling pressure is accumulating from a pure technical point of view, while geopolitical factors are not falling in favor of higher Gas prices either. Data published on Wednesday showed that European Industrial Production fell more than expected in January, a bad sign for demand at a time when Gas consumption from households is fading as well with spring and summer just around the corner. 

Meanwhile, the US Dollar (USD) is clinging on to its weekly gain despite the failed attempt to jump higher on Tuesday. The US Consumer Price Index (CPI), though clearly proving that inflation is still sticky, was not enough to push the US Dollar Index (DXY) firmly above 103.00 and saw it retreating at the end of the US trading session, with risk of more downside once Dollar bulls run out of belief. 

Natural Gas is trading at $1.78 per MMBtu at the time of writing.