Crude Oil Fundamental Analysis August 24, 2012, Forecast
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Analysis and Recommendations:
Crude Oil is trading at 97.39. The Chinese HSBC flash manufacturing PMI slipped to a nine month low. Hopes of stimulus measures lifted crude oil to a three month high. In Nymex, prices breached $98 a barrel while Brent crude oil moved past $116 a barrel gaining more than one percent. Decline in crude oil inventories also supported the sentiments.
Crude oil traders are sitting tight as Iran and Western negotiators enter another meeting to discuss the embargo and the Iranian nuclear development plans.
FxEmpire provides in-depth analysis for each currency and commodity we review. Fundamental analysis is provided in three components. We provide a detailed monthly analysis and forecast at the beginning of each month. Then we provide more up to the data analysis and information in our weekly reports.
Economic Data August 23, 2012 actual v. forecast
|
Aug. 23 |
|
CNY |
|
|
Chinese HSBC Manufacturing PMI |
47.80 |
|
|
49.30 |
||
|
|
|
EUR |
|
|
German GDP (QoQ) |
0.3% |
|
0.3% |
|
0.3% |
|
|
|
|
EUR |
|
|
German GDP (YoY) |
0.5% |
|
0.5% |
|
0.5% |
|
|
|
|
EUR |
|
|
French Manufacturing PMI |
46.2 |
|
43.6 |
|
43.4 |
|
|
|
|
EUR |
|
|
German Manufacturing PMI |
45.1 |
|
43.4 |
|
43.0 |
|
|
|
|
SEK |
|
|
Swedish Unemployment Rate |
7.00% |
|
7.20% |
|
8.80% |
|
|
|
|
EUR |
|
|
Manufacturing PMI |
45.3 |
|
44.2 |
|
44.0 |
|
|
|
|
NOK |
|
|
Norwegian GDP (QoQ) |
1.2% |
|
1.0% |
|
1.5% |
|
|
|
|
GBP |
|
|
BBA Mortgage Approvals |
28.4K |
|
28.2K |
|
25.9K |
|
|
|
|
GBP |
|
|
CBI Distributive Trades Survey |
-3 |
|
15 |
|
11 |
|
|
|
|
USD |
|
|
Initial Jobless Claims |
372K |
|
365K |
|
368K |
|
|
|
|
USD |
|
|
Continuing Jobless Claims |
3317K |
|
3300K |
|
3313K |
|
|
|
|
USD |
|
|
New Home Sales |
|
365K |
|
350K |
WEEKLY
-
This Week in Petroleum
Release Schedule: Wednesday @ 1:00 p.m. EST (schedule) -
Gasoline and Diesel Fuel Update
Release Schedule: Monday between 4:00 and 5:00 p.m. EST (schedule) -
Weekly Petroleum Status Report
Release Schedule: The wpsrsummary.pdf, overview.pdf, and Tables 1-14 in CSV and XLS formats, are released to the Web site after 10:30 a.m. (Eastern Time) on Wednesday. All other PDF and HTML files are released to the Web site after 1:00 p.m. (Eastern Time) on Wednesday. Appendix D is produced during the winter heating season, which extends from October through March of each year. For some weeks which include holidays, releases are delayed by one day. (schedule)
Upcoming Economic Events that affect the CHF, EUR, GBP and North American markets
|
Aug. 24 |
08:00 |
|
HUF |
|
|
Hungarian Retail Sales (YoY) |
|
|
-2.40% |
|
-2.50% |
|
|
09:30 |
|
GBP |
|
|
Business Investment (QoQ) |
|
|
2.8% |
|
1.9% |
|
|
09:30 |
|
GBP |
|
|
GDP (QoQ) |
|
|
-0.5% |
|
-0.7% |
|
|
09:30 |
|
GBP |
|
|
GDP (YoY) |
|
|
-0.6% |
|
-0.8% |
|
|
13:30 |
|
USD |
|
|
Core Durable Goods Orders (MoM) |
|
|
0.5% |
|
-1.4% |
|
|
13:30 |
|
USD |
|
|
Durable Goods Orders (MoM) |
|
|
2.4% |
|
1.3% |
Government Bond Auctions
Date Time Country
23/8 05:45 Japan
23/8 11:30 UK
23/8 19:00 US
27/8 11:30 Germany
28/8 10:30 Spain
28/8 11:00 Italy
28/8 19:00 US
29/8 11:00 Italy
29/8 19:00 US
30/8 05:35 Japan
30/8 11:00 Italy
30/8 19:00 US
Friendly Durable Goods Report Reverses EUR/USD to Down
Gold Forecast May 27, 2013, Technical Analysis
EUR/USD Mid-Session Analysis for May 24, 2013
EUR/USD Forecast May 27, 2013, Technical Analysis
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