Crude Oil Fundamental Analysis October 19, 2012 Forecast

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Crude Oil Fundamental Analysis October 19, 2012 Forecast

Crude Oil Fundamental Analysis October 19, 2012 Forecast

Analysis and Recommendations:

Crude Oil dipped to trade at 91.44 after China reported GDP at 7.4% although it met with expectations, it shows a continued slowdown in the sleepy giant. Global growth continues to decline, while production continues to escalate. The EIA reported yesterday, a larger than expected increase in supply and the IEA once again reduced its 2012 forecast.

Despite the positive US housing figures, world oil prices fell as traders reacted to a far bigger-than-expected surge in crude inventories in top global consumer the United States.

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 October 18, 2012 actual v. forecast

Date

 

Currency

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Oct. 18

 

AUD

 

 

NAB Quarterly Business Confidence 

-2.00

 

 

 

-2.00 

 

 

 

 

CNY

 

 

Chinese Fixed Asset Investment (YoY) 

20.5%

 

20.2% 

 

20.2% 

 

 

 

 

CNY

 

 

Chinese GDP (YoY) 

7.4%

 

7.4% 

 

7.6% 

 

 

 

 

CNY

 

 

Chinese Industrial Production (YoY) 

9.2%

 

9.0% 

 

8.9% 

 

 

 

 

CNY

 

 

Chinese Retail Sales (YoY) 

14.2%

 

13.2% 

 

13.2% 

 

 

 

 

GBP

 

 

Retail Sales (MoM) 

0.6%

 

0.4% 

 

-0.1% 

  

 

 

GBP

 

 

Retail Sales (YoY) 

2.5%

 

2.1% 

 

2.5% 

  

 

 

EUR

 

 

Spanish 10-Year Obligacion Auction 

5.458%

 

 

 

5.666% 

 

 

 

 

USD

 

 

Initial Jobless Claims 

388K

 

365K 

 

342K 

  

 

 

CAD

 

 

Wholesale Sales (MoM) 

0.5%

 

0.2% 

 

-0.7% 

  

 

 

USD

 

 

Continuing Jobless Claims 

3252K

 

3275K 

 

3281K 

  

 

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 USD

Date

Time

Currency

Event

Forecast

Previous

Oct. 19 

15:00

USD

Existing Home Sales 

4.73M 

4.82M 

Government Bond Auction

Date Time Country 

Oct 21 10:30 Portugal 

Oct 22 09:10 Norway 

Oct 23 08:30 Spain 

Oct 23 14:30 UK 

Oct 23 17:00 US 

Oct 24 09:10 Sweden 

Oct 24 09:30 Germany 

Oct 24 14:30 Sweden 

Oct 24 15:30 Italy  

Oct 24 16:30 US 

Oct 25 00:30 Japan 

Oct 25 09:10 Sweden 

Oct 25 15:30 Italy  

Oct 25 17:00 US 

Oct 26 09:10 Italy

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About:FX Empire Analyst - Barry Norman

Barry produces a private Daily Market Review newsletter that is distributed around the globe to over 25,000 subscribers and recently published a book on Options Trading that is available from amazon.com

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