Gold Fundamental Analysis August 16, 2012, Forecast
Add a comment
Fundamental Reports
To learn more click here
Analysis and Recommendations:
Gold futures prices were modestly lower in early U.S. trading Wednesday. Traders are in a bearish posture for the precious metals, as the U.S. dollar index is higher and crude oil prices are weaker but turned up after the EIA release. There were no major news developments in the eurozone with light news flow and little on the eco calendar. The US failed to follow through on positive eco data today, as most of the releases were negative and might once again stir the dreams of Fed hopefuls. Gold is trading at 1602.55 adding a bit but moving between small losses and gains.
Reports overnight said major investors George Soros and John Paulson have significantly increased their holdings in the largest gold-backed exchange traded fund, SPDR Gold Trust. These two heavyweights are considered the “smart money” in the market place, and it appears they are doing some bargain-hunting shopping and looking for gold prices to appreciate in the coming months.
The U.S. dollar index is higher in early trading Wednesday. The greenback is seeing choppy trading action recently, but the bulls maintain the solid overall near-term technical advantage.
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 August 15, 2012 actual v. forecast
|
|
|
Currency |
|
|
Event |
actual |
|
forecast |
|
previous |
|||
|
Aug. 15 |
|
AUD |
|
|
Westpac Consumer Sentiment |
-2.50% |
|
|
|
3.70% |
|
||
|
|
|
AUD |
|
|
Wage Price Index (QoQ) |
1.0% |
|
0.8% |
|
0.9% |
|
||
|
|
|
TRY |
|
|
Turkish Quarterly Unemployment Rate |
8.20% |
|
8.90% |
|
9.00% |
|
||
|
|
|
GBP |
|
|
Average Earnings Index +Bonus |
1.6% |
|
1.8% |
|
1.5% |
|
||
|
|
|
GBP |
|
|
Claimant Count Change |
-5.9K |
|
6.0K |
|
1.0K |
|||
|
|
|
GBP |
|
|
MPC Meeting Minutes |
|
|
|
|
|
|
||
|
|
|
USD |
|
|
Core CPI (MoM) |
0.1% |
|
0.2% |
|
0.2% |
|
||
|
|
|
USD |
|
|
CPI (MoM) |
0.0% |
|
0.2% |
|
0.0% |
|
||
|
|
|
USD |
|
|
NY Empire State Manufacturing Index |
-5.8 |
|
6.5 |
|
7.4 |
|
||
|
|
|
USD |
|
|
CPI (YoY) |
1.4% |
|
1.6% |
|
1.7% |
|
||
|
|
|
USD |
|
|
Core CPI (YoY) |
2.1% |
|
2.2% |
|
2.2% |
|
||
|
|
|
USD |
|
|
TIC Net Long-Term Transactions |
9.3B |
|
63.0B |
|
55.9B |
|||
|
|
|
USD |
|
|
Industrial Production (MoM) |
0.6% |
|
0.5% |
|
0.1% |
Upcoming Economic Events that affect the CHF, EUR, GBP and USD
|
Date |
Time |
Currency |
Event |
Forecast |
Previous |
|
Aug 16 |
9:00 |
CHF |
-42.5 |
||
|
9:00 |
EUR |
2.4% |
2.4% |
||
|
12:30 |
USD |
0.77M |
0.76M |
||
|
12:30 |
USD |
365K |
361K |
||
|
12:30 |
USD |
0.76M |
0.76M |
||
|
14:00 |
USD |
-4.3 |
-12.9 |
||
|
Aug 17 |
6:00 |
EUR |
0.4% |
-0.4% |
|
|
8:00 |
EUR |
7.8B |
10.9B |
||
|
13:55 |
USD |
72.5 |
72.3 |
Government Bond Auctions
Date Time Country
Aug 16 09:30 UK
Aug 16 15:00 US
EUR/USD Forecast June 19, 2013, Technical Analysis
Gold Forecast June 19, 2013, Technical Analysis
EUR/USD Mid-Session Analysis for June 18, 2013
GBP/USD Forecast June 19, 2013, Technical Analysis
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
