• Natural Gas receives technical rejection on the topside after attempts to break higher. 
• European Gas reserves are 93% full while the Russian transit deal ends.  
• The US Dollar Index eases after the Fed delivers a 50 basis point rate cut with more to come. 

Natural Gas futures trade flat on Thursday after the recent rally, which brought prices to a fair value point. On the one hand, Europe is bracing for a cold spell where temperatures are set to drop below averages. On the other hand, the recent pager and walkie-talkie bombing from Hamas members by Israel is a setback for any peace deal or ceasefire in the region. 

Meanwhile, the US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, is on the back foot after the US Federal Reserve (Fed) delivered a 50 basis point (bps) interest rate cut. In its forecast, the central bank projected another 50 bps rate cut to take place by the end of 2024. Equities are having a field day on the back of this and are rallying across the globe while the Greenback is dipping lower against nearly every major currency.