Gold Fundamental Analysis July 13, 2012, Forecast
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Analysis and Recommendations:
Gold prices are moderately lower today as the market place exhibits risk aversion on account of fears of weakening world economies. For this day, gold decided to adhere to most other commodity markets towards the downside and act like a risk asset, in comparison to a safe-haven asset. The gold market bulls are fading, technically. Gold is trading at 1559.75 down 15.95 in mid day trading
It’s a moderately “risk-off” trading day in the market place thus far Thursday. This follows Wednesday afternoon’s FOMC minutes from the Federal Reserve that confirmed a sluggish U.S. economy, but provided no fresh clues on any upcoming Fed monetary-policy-easing moves. Most market bulls wanted the Fed to signal it’s embarking on another round of quantitative easing—nicknamed QE3.
European stock markets were lower overnight as the Euro currency hit a fresh two-year low on the U.S. dollar. Asian stock markets were also weaker on fears that fresh China second-quarter GDP data due out Friday will also be downbeat.
On any slightly positive note coming out of the European Union, Italian government shorter-term borrowing costs have backed off just a bit, which hints that the EU debt crisis has stabilized, regarding the moment a minimum of.
The U.S. dollar index is higher in early trading and hit a different six-week high overnight. The greenback bulls have upside near-term technical momentum on their side. Meantime, Us crude oil oil futures prices are lower. Exchanging crude has turned choppy, though there still are some early clues the crude oil market has in a bottom.
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 July 13, 2012 actual v. forecast
|
Date |
|
Currency |
|
|
Event |
Actual |
|
Forecast |
|
Previous |
|
|
Jul. 12 |
|
AUD |
|
|
RBA Assist Gov Lowe Speaks |
|
|
|
|
|
|
|
|
|
KRW |
|
|
South Korean Interest Rate Decision |
3.00% |
|
3.25% |
|
3.25% |
|
|
|
|
AUD |
|
|
Employment Change |
-27.0K |
|
0.3K |
|
27.9K |
|
|
|
|
AUD |
|
|
Unemployment Rate |
5.2% |
|
5.2% |
|
5.1% |
|
|
|
|
JPY |
|
|
Interest Rate Decision |
0.10% |
|
0.10% |
|
0.10% |
|
|
|
|
EUR |
|
|
French CPI (MoM) |
0.0% |
|
-0.1% |
|
-0.1% |
|
|
|
|
JPY |
|
|
BoJ Press Conference |
|
|
|
|
|
|
|
|
|
EUR |
|
|
Industrial Production (MoM) |
0.6% |
|
-0.1% |
|
-1.1% |
|
|
|
|
USD |
|
|
Import Price Index (MoM) |
-2.7% |
|
-1.7% |
|
-1.0% |
|
|
|
|
USD |
|
|
Initial Jobless Claims |
350K |
|
372K |
|
374K |
|
|
|
|
USD |
|
|
Continuing Jobless Claims |
3304 |
|
3300K |
|
3306K |
Upcoming Economic Events that affect the CHF, EUR, GBP and USD
|
Date |
Time |
Currency |
Event |
Previous |
|
Jul 13 |
12:30 |
USD |
-1.0% |
|
|
13:55 |
USD |
73.2 |
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