Crude Oil Fundamental Analysis September 6, 2012 Forecast

Analysis and Recommendations:

Crude Oil is trading at 94.63 declining for the second day this week on global growth worries, lack of demand and over supply, even with the hopes of stimulus, there may be too much oil even on increased production. Poor EU eco data weighed on the commodity today

Nymex crude oil prices declined 0.34 percent today taking cues from decline in US manufacturing coupled with strength in the DX. However, expectations of decline in US crude oil inventories prevented further fall in the prices.

The American Petroleum Institute (API) released its weekly inventories today and US crude oil inventories showing a decline by 5.5 million barrels for the week ending on 31st August 2012.

Spanish Services Purchasing Managers’ Index (PMI) increased by 0.3 points to 44-mark in August as against a rise of 43.7-level in July. Italian Services PMI gained by 1 point to 44-level in last month from earlier rise of 43-mark in July. European Final Services PMI declined by 0.3 points to 47.2-mark in August as compared to rise of 47.5-level a month ago. European Retail Sales declined by 0.2 percent in July with respect to rise of 0.1 percent in prior month

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 5, 2012 actual v. forecast

WEEKLY

• This Week in Petroleum
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• Gasoline and Diesel Fuel Update
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• Weekly Petroleum Status Report
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Upcoming Economic Events that affect the CHF, EUR, GBP and USD

Government Bond Auction

 Date    Time   Country 

Sep 06 00:30 Japan 

Sep 06 08:30 Spain 

Sep 06 08:50 France 

Sep 06 09:10 Sweden 

Sep 06 15:00 US 

Sep 07 15:30 Italy

Sep 10 09:30 Germany 

Sep 10 15:30 Italy  

Sep 11 00:30 Japan 

Sep 11 08:30 Holland 

Sep 11 09:10 Greece 

Sep 11 09:30 UK 

Sep 11 14:30 UK 

Sep 11 17:00 US 

Sep 12 09:10 Italy  

Sep 12 09:10 Sweden 

Sep 12 09:30 Germany 

Sep 12 09:30   Swiss 

Sep 12 14:30 Sweden 

Sep 12 17:00 US