Crude Oil Fundamental Analysis October 22, 2012 Forecast

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Crude Oil Fundamental Analysis October 22, 2012 Forecast

Crude Oil Fundamental Analysis October 22, 2012 Forecast

Analysis and Recommendations:

Crude Oil dipped slightly today, to trade at 92.29. An increase in new home construction reported Wednesday suggested the US economy was improving and would need more gasoline, diesel and jet fuel in coming months. At the same time, US oil supplies have climbed higher than expected and are above their 5-year average for this time of year.

China’s economic news also offered a complicated outlook for oil demand. The slide in the country’s growth rate appeared to be slowing, according to data reported yesterday. That could mean Chinese oil demand will pick up. But the data also lowered expectations that China’s government will introduce new measures to stimulate the economy. That could keep a lid on demand.

Markets had little reaction to the conclusion of the EU Summit.

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 19, 2012 actual v. forecast

Date

 

Currency

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Oct. 19

 

JPY

 

 

BoJ Governor Shirakawa Speaks 

 

 

 

 

 

 

 

 

 

CAD

 

 

Core CPI (MoM) 

0.2%

 

0.4% 

 

0.3% 

 

 

 

 

CAD

 

 

CPI (MoM) 

0.2%

 

0.3% 

 

0.2% 

 

 

 

 

CAD

 

 

CPI (YoY) 

1.2%

 

1.0% 

 

1.2% 

 

 

 

 

USD

 

 

Existing Home Sales 

4.75M

 

4.75M 

 

4.83M 

   

 

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. 24

07:58

EUR

French Manufacturing PMI 

 

42.7 

 

08:28

EUR

German Manufacturing PMI 

 

47.4 

 

09:00

EUR

German Ifo Business Climate Index 

101.0 

101.4 

 

09:00

EUR

German Current Assessment 

 

110.3 

 

09:00

EUR

German Business Expectations 

 

93.2 

 

11:00

GBP

CBI Industrial Trends Orders 

 

-8 

Government Bond Auction

Date Time Country 

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

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