Crude Oil Fundamental Analysis September 28, 2012 Forecast
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Analysis and Recommendations:
Crude Oil climbed to 91.87 after falling below 90.00 yesterday. Crude oil prices recovered some of the lost ground from the previous session on rising Euro and expectation of liquidity injection from the second largest consumer China to assist flagging growth in the country. NYMEX crude oil was off its eight week low it hit in the previous session while, Brent crude oil steadied above $110 a barrel.
Crude is expected to continue to decline, with lackluster eco data from the US, durable goods and pending home sales both printed on the negative sides today, weighing on the USD and commodities.
Global growth continues to slow, which will keep crude lower.
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 27, 2012 actual v. forecast
|
Date |
|
Currency |
|
|
Event |
Actual |
|
Forecast |
|
Previous |
|
|
|
Sep. 27 |
|
DKK |
|
|
Danish Unemployment Rate |
4.70% |
|
4.70% |
|
4.70% |
|
|
|
|
|
EUR |
|
|
German Unemployment Rate |
6.8% |
|
6.8% |
|
6.8% |
|
|
|
|
|
EUR |
|
|
German Unemployment Change |
9K |
|
10K |
|
11K |
||
|
|
|
GBP |
|
|
Business Investment (QoQ) |
0.9% |
|
-1.5% |
|
-1.5% |
|
|
|
|
|
GBP |
|
|
Current Account |
-20.8B |
|
-12.4B |
|
-15.4B |
||
|
|
|
GBP |
|
|
GDP (QoQ) |
-0.4% |
|
-0.5% |
|
-0.5% |
|
|
|
|
|
GBP |
|
|
GDP (YoY) |
-0.5% |
|
-0.5% |
|
-0.5% |
|
|
|
|
|
EUR |
|
|
Italian 10-Year BTP Auction |
5.24% |
|
|
|
5.82% |
|
|
|
|
|
USD |
|
|
Core Durable Goods Orders (MoM) |
-1.6% |
|
0.3% |
|
-1.3% |
||
|
|
|
USD |
|
|
Durable Goods Orders (MoM) |
-13.2% |
|
-5.0% |
|
3.3% |
||
|
|
|
USD |
|
|
Initial Jobless Claims |
359K |
|
378K |
|
385K |
||
|
|
|
USD |
|
|
GDP (QoQ) |
1.3% |
|
1.7% |
|
1.7% |
|
|
|
|
|
USD |
|
|
Continuing Jobless Claims |
3271K |
|
3285K |
|
3275K |
||
|
|
|
USD |
|
|
Pending Home Sales (MoM) |
-2.6% |
|
-0.7% |
|
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 |
|
Sep. 28 |
06:30 |
EUR |
0.0% |
0.0% |
|
|
|
07:45 |
EUR |
-0.1% |
0.1% |
|
|
|
08:00 |
CHF |
1.57 |
1.57 |
|
|
|
10:00 |
EUR |
2.4% |
2.6% |
|
|
|
13:30 |
USD |
0.1% |
0.0% |
|
|
|
13:30 |
USD |
0.5% |
0.4% |
|
|
|
14:45 |
USD |
52.9 |
53.0 |
|
|
|
14:55 |
USD |
78.9 |
79.2 |
Government Bond Auction
Date Time Country
Oct 01 10:00 Norway
Oct 02 09:15 Austria
Oct 02 09:30 Belgium
Oct 02 09:30 UK
Oct 02 14:30 UK
Oct 03 09:10 Sweden
Oct 03 10:00 Norway
Oct 04 08:30 Spain
Oct 04 08:50 France
Oct 04 15:00 US
Oct 05 15:30 Italy
EUR/USD Mid-Session Analysis for May 23, 2013
EUR/USD Forecast May 23, 2013, Technical Analysis
Gold Prices Forecast May 23, 2013, Technical Analysis
AUD/USD Forecast May 23, 2013, Technical Analysis
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