Crude Oil Fundamental Analysis October 5, 2012 Forecast

Posted October 04, 2012 17:27 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
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Analysis and Recommendations:

Crude Oil turned around after falling 4.00 in yesterday’s session to trade at 90.35 recovering over 2.00. . Brent crude oil rose more than one per cent while on NYMEX, crude oil was up more than 0.5 per cent as brewing tensions between Syria and Turkey incited supply worries. Reports and news said that Turkey had made attacks in Syria.

Nymex crude oil prices increased 0.8 percent today. Additionally, weakness in the DX also pushed an upside in the crude oil prices.

There was little reaction to Mr. Draghi’s news conference in crude oil, although his statements sent the euro skyrocketing, lowering the strength of the USD, which helps make commodities more attractive.

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 4, 2012 actual v. forecast

Date	Currency	Event	Actual	Forecast	Previous
Oct. 04	AUD	Building Approvals (MoM)	6.4%	4.7%	-21.2%
	AUD	Retail Sales (MoM)	0.2%	0.4%	-0.8%
	GBP	Halifax House Price Index (MoM)	-0.4%	0.2%	-0.4%
	GBP	Interest Rate Decision	0.50%	0.50%	0.50%
	GBP	BOE QE Total	375B	375B	375B
	EUR	Interest Rate Decision	0.75%	0.75%	0.75%
	USD	Initial Jobless Claims	367K	370K	363K
	EUR	ECB Press Conference
	USD	Continuing Jobless Claims	3281K	3271K	3281K
	CAD	Ivey PMI	60.4	59.0	62.5

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. 05	10:00	EUR	GDP (QoQ)	-0.2%	-0.2%
	11:00	EUR	German Factory Orders (MoM)	-0.5%	0.5%
	13:30	USD	Average Hourly Earnings (MoM)	0.2%	0.0%
	13:30	USD	Nonfarm Payrolls	110K	96K
	13:30	USD	Average Weekly Hours	34.4	34.4
	13:30	USD	Private Nonfarm Payrolls	125K	103K

Government Bond Auction

Date Time Country

Oct 05 15:30 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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