Gold Fundamental Analysis July 13, 2012, Forecast

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

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

PPI m/m

-1.0%

13:55

USD

Prelim UoM Consumer Sentiment

73.2

 

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.