Crude Oil Fundamental Analysis September 19, 2012 Forecast
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Analysis and Recommendations:
Crude Oil continues to decline as more rumors surface regarding a release from the Strategic Reserves. Yesterday a weak manufacturing report added to the weakness in oil. Crude oil prices fell nearly $3 per barrel in a wild session that saw Brent plunge more than $5 per barrel in a wave of late, high-volume selling before paring losses as markets sought an explanation for the sudden crash. Crude is trading at 96.38
US exempted Japan and EU countries from Iranian oil sanctions. The State Department granted Japan and 10-European Union countries exemptions from the international sanctions on Iranian oil.
Continued tensions in the Middle East are pushing crude oil prices and offsetting decline in demand and high production.
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 September 18, 2012 actual v. forecast
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Sep. 18 |
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AUD |
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Monetary Policy Meeting Minutes |
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CNY |
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China House Prices (MoM) |
-1.40% |
-1.50% |
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GBP |
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Core CPI (YoY) |
2.1% |
2.2% |
2.3% |
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GBP |
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CPI (YoY) |
2.5% |
2.5% |
2.6% |
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GBP |
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RPI (YoY) |
2.9% |
3.1% |
3.2% |
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GBP |
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DCLG House Price Index (YoY) |
2.0% |
2.8% |
2.3% |
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GBP |
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CPI (MoM) |
0.5% |
0.5% |
0.1% |
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EUR |
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German ZEW Economic Sentiment |
-18.2 |
-19.0 |
-25.5 |
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EUR |
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ZEW Economic Sentiment |
-3.8 |
-16.5 |
-21.2 |
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USD |
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Current Account |
-117.4B |
-125.5B |
-133.6B |
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 |
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Sep. 19 |
13:30 |
USD |
0.800M |
0.811M |
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|
13:30 |
USD |
0.765M |
0.746M |
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15:00 |
USD |
4.56M |
4.47M |
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Sep. 20 |
07:58 |
EUR |
46.4 |
46.0 |
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08:28 |
EUR |
45.3 |
44.7 |
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09:30 |
GBP |
-0.4% |
0.3% |
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09:30 |
GBP |
2.7% |
2.8% |
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11:00 |
GBP |
-15 |
-21 |
Government Bond Auction
Date Time Country
Sep 19 09:10 Sweden
Sep 19 09:30 Germany
Sep 19 09:30 Portugal
Sep 19 10:00 Norway
Sep 20 08:30 Spain
Sep 20 08:50 France
Sep 20 09:30 UK
Sep 20 09:50 France
Sep 20 15:00 US
Sep 20 17:00 US
Sep 21 15:30 Italy
EUR/USD Forecast May 22, 2013, Technical Analysis
GBP/USD Forecast May 22, 2013, Technical Analysis
Gold Prices May 22nd, 2013, Technical
USD/JPY Forecast May 22, 2013, Technical Analysis
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