Crude Oil Fundamental Analysis September 24, 2012 Forecast

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

Analysis and Recommendations:

Crude Oil added 0.97 cents today to trade at 93.39. Crude oil is seen extending the previous session gains in NYMEX after steep slides in the earlier sessions. Optimism that recent stimulus measures will aid economic growth and unrest in North Africa and Middle East is likely to provide firm support.

Nymex crude oil prices gained around 0.16 percent today taking cues from expectations of stimulus measures from global central banks. Additionally, weakness in the DX also acted as a positive factor for the prices.

However, crude oil prices are expected to witness correction as the oil market is sufficient supplied and additional supplies arriving from Saudi Arabia. 

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 21, 2012 actual v. forecast

Date

 

Currency

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Sep. 21

 

AUD

 

 

CB Leading Index (MoM) 

0.0%

 

 

 

0.5% 

  

 

 

NZD

 

 

Credit Card Spending (YoY) 

1.0%

 

 

 

0.1% 

 

 

 

 

EUR

 

 

Dutch Consumer Spending 

-1.50

 

 

 

-0.50 

  

 

 

GBP

 

 

Public Sector Net Borrowing 

12.4B

 

13.3B 

 

-1.9B 

  

 

 

CAD

 

 

Core CPI (MoM) 

0.3%

 

0.3% 

 

-0.1% 

 

 

 

 

CAD

 

 

CPI (MoM) 

0.2%

 

0.4% 

 

-0.1% 

 

 

 

 

CAD

 

 

Wholesale Sales (MoM) 

-0.6%

 

-0.1% 

 

-0.3% 

  

 

 

CAD

 

 

CPI (YoY) 

1.2%

 

1.0% 

 

1.3% 

 

 

 

 

EUR

 

 

Belgium NBB Business Climate 

-11.6

 

-11.2 

 

-11.8 

 

 

 

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 EUR ( there are no USD or CAD events )

Date

Time

Currency

Event

Forecast

Previous

 Sep. 24

09:00

EUR

German Ifo Business Climate Index 

102.1 

102.3 

 

09:00

EUR

German Current Assessment 

 

111.2 

 

09:00

EUR

German Business Expectations 

 

94.2 

Government Bond Auction

Date Time Country 

Sep 24 09:10 Norway 

Sep 24 09:30 Germany 

Sep 24 10:00 Belgium 

Sep 24 15:30 Italy  

Sep 25 08:30 Holland 

Sep 25 08:30 Spain 

Sep 25 09:10 Italy  

Sep 25 14:30 UK 

Sep 25 17:00 US 

Sep 26 09:10 Italy  

Sep 26 09:10 Sweden 

Sep 26 09:00 Germany 

Sep 26 14:30 Sweden 

Sep 26 17:00 US 

Sep 27 00:30 Japan 

Sep 27 09:10 Italy  

Sep 27 17:00 US 

 

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    
Share Your Thoughts: Post a Comment


Your email address will not be published.