Crude Oil Fundamental Analysis August 3, 2012, Forecast

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Analysis and Recommendations:

Crude Oil is trading at 87.77 falling 1.14 since the ECB statement, with no plans or stimulus, oil is left dealing with the current drop in growth and production and lower demands for oil. Oil was elevated on the hopes that stimulus from the central banks would increase demand. Oil will most like fall back to its level of 10 days ago.

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 recent analysis and information in our weekly reports and we provide daily updates and outlooks

Economic Data August 2, 2012 actual v. forecast

Date

 

Currency

 

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Aug. 02

 

AUD

 

 

 

Retail Sales (MoM) 

1.0%

 

0.7% 

 

0.8% 

  

 

 

AUD

 

 

 

Trade Balance 

0.01B

 

-0.35B 

 

-0.31B 

  

 

 

EUR

 

 

 

Spanish Unemployment Change 

-27.80K

 

 

 

-98.90K 

 

 

 

 

CHF

 

 

 

Retail Sales (YoY) 

3.7%

 

2.0% 

 

6.2% 

 

 

 

 

CHF

 

 

 

SVME PMI 

48.6

 

47.0 

 

48.1 

 

 

 

 

NOK

 

 

 

Norwegian Unemployment Rate 

3.00%

 

3.00% 

 

3.00% 

 

 

 

 

EUR

 

 

 

Spanish 10-Year Obligacion Auction 

6.647%

 

 

 

6.430% 

 

 

 

 

GBP

 

 

 

Interest Rate Decision 

0.50%

 

0.50% 

 

0.50% 

 

 

 

 

GBP

 

 

 

BOE QE Total 

375B

 

375B 

 

375B 

 

 

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 USD

Date

Time

Currency

Event 

Forecast

Previous

Aug 3

12:30

USD

Non-Farm Employment Change

 

80K

 

12:30

USD

Unemployment Rate

 

8.2%

 

12:30

USD

Average Hourly Earnings m/m

 

0.3%

 

14:00

USD

ISM Non-Manufacturing PMI

 

52.1

Date  Time  Country 

Aug 06  09:10  Norway

Aug 07  00:30  Japan

Aug 07  09:15  Austria

Aug 07  14:30  UK

Aug 07  17:00  US

Aug 08  09:30  Germany

Aug 08  10:00  Norway

Aug 08  15:30  Italy

Aug 08  17:00  US

Aug 09  15:30  Italy

Aug 09  17:00  US

Aug 10  10:00  Belgium

 

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About:FX Empire Analyst - Barry Norman

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