Crude Oil Fundamental Analysis October 26, 2012 Forecast

Posted October 25, 2012 17:00 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
Add a comment

Category:

Fundamental Reports

Get Forex buy/sell signals directly to your email and by SMS.
To learn more click here

Crude Oil Fundamental Analysis October 26, 2012 Forecast

Analysis and Recommendations:

Crude Oil traded flat today despite strong eco data. US durable goods and unemployment numbers in the US climbed today with pending home sales dipping. Tensions in the Middle East remain on high alert but seem to be subsiding.

Crude oil continued the selling momentum even though Iran threatened cutting its oil exports in an effort to resist sanction from US. Yesterday’s EIA inventory data too weighed on prices. As per EIA report, crude and gasoline stockpiles surged due to an increased imports and fall in refinery utilization last week. However, recent positive economic releases from China and US restricted major liquidation.

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 25, 2012 actual v. forecast

Date	Currency	Event	Actual	Forecast	Previous
Oct. 25	HUF	Hungarian Retail Sales (YoY)	-2.40%	-2.20%	-2.60%
	SEK	Swedish Interest Rate Decision	1.25%	1.25%	1.25%
	GBP	GDP (QoQ)	1.0%	0.6%	-0.4%
	GBP	GDP (YoY)	0.0%	-0.5%	-0.5%
	BRL	Brazilian Unemployment Rate	5.4%	5.3%	5.3%
	USD	Core Durable Goods Orders (MoM)	2.0%	0.8%	-2.1%
	USD	Durable Goods Orders (MoM)	9.9%	7.1%	-13.1%
	USD	Initial Jobless Claims	369K	370K	392K
	USD	Continuing Jobless Claims	3254K	3255K	3256K
	MXN	Mexican Trade Balance	0.234B	-1.318B	-0.979B
	USD	Pending Home Sales (MoM)	0.3%	2.1%	-2.6%

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. 26	07:00	EUR	GfK German Consumer Climate	5.9	5.9
	08:00	CHF	KOF Leading Indicators	1.63	1.67
	13:30	USD	GDP (QoQ)	1.9%	1.3%
	14:55	USD	Michigan Consumer Sentiment	83.0	83.1

Government Bond Auction

Date Time Country

Oct 26 09:10 Italy

Want to read more articles like this one?

Enter your e-mail address and read FX Empire content directly from your inbox.

We value your privacy. Your e-mail address will not be shared.

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

View all of FX Empire Analyst - Barry Norman's Articles