💶 Increased Sensitivity to Nat Gas Prices to Pressure The Euro

• We have seen the euro increase its sensitivity to natural gas prices over the last 6-months compared to last year

• 6-month daily returns record a negative beta of 4.3, however, R^2 is relatively insignificant at 0.08

• As of early NA session, Dutch natgas futures have increased 5.7% to EUR 308.7, this follows an 8.6% increase on Wednesday. The euro remains flat on the day and tracks a decline of 2.5% on the month