Gold Fundamental Analysis September 14, 2012, Forecast
Add a comment
Fundamental Reports
To learn more click here
Analysis and Recommendations:
Gold continues to climb as traders believe that the Fed will offer up a large stimlus package today. Earlier polls from Reuters and Bloomberg both registered over an 80% chance that the Feds would offer some stimulus today and dropped to 62% that they would offer a very large package. Gold is holding at 1732.65
The FOMC statement is due in the next few hours from Mr. Bernanke and at this time, markets are quiet and are sitting waiting for work from the Fed chief. The market place has a slight bias that the Fed will announce QE3, or some sort of fresh monetary stimulus package, on Thursday. But even if the Fed does not make a stimulus move on Thursday, the majority of the market place believes the U.S. central bank will act to ease monetary policy in the coming weeks. No significant action at all by the Fed Thursday would disappoint many commodity and stock market bulls and could put downside price pressure on many markets, including the precious metals.
Elsewhere the Italian government had a successful long-term bond offering, with most agreeing the debt sale went well due to the European Union’s recent proclamations to support governments’ debt sales by having the European Central Bank sop up any excess debt. Also, Greece’s unemployment rate rose to a record high of 23.6% in the second quarter.
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 13, 2012 actual v. forecast
|
Date |
|
Currency |
|
|
Event |
Actual |
|
Forecast |
|
Previous |
|
|
|
Sep. 13 |
|
KRW |
|
|
South Korean Interest Rate Decision |
3.00% |
|
2.75% |
|
3.00% |
|
|
|
|
|
CHF |
|
|
PPI (MoM) |
0.5% |
|
-0.4% |
|
-0.3% |
|
|
|
|
|
CHF |
|
|
Interest Rate Decision |
0.00% |
|
0.00% |
|
0.00% |
|
|
|
|
|
EUR |
|
|
ECB Monthly Report |
|
|
|
|
|
|
|
|
|
|
USD |
|
|
Core PPI (MoM) |
|
|
0.2% |
|
0.4% |
|
|
|
|
|
USD |
|
|
PPI (MoM) |
|
|
1.1% |
|
0.3% |
|
|
|
|
|
USD |
|
|
Initial Jobless Claims |
|
|
370K |
|
365K |
|
|
|
|
|
USD |
|
|
Continuing Jobless Claims |
|
|
3318K |
|
3322K |
|
|
|
|
|
USD |
|
|
PPI (YoY) |
|
|
1.4% |
|
0.5% |
|
|
|
|
|
USD |
|
|
Core PPI (YoY) |
|
|
2.6% |
|
2.5% |
|
|
|
|
|
USD |
|
|
Interest Rate Decision |
|
|
0.25% |
|
0.25% |
Upcoming Economic Events that affect the CHF, EUR, GBP and USD
|
Sep. 14 |
10:00 |
EUR |
2.6% |
2.6% |
|
|
|
10:00 |
EUR |
-0.2% |
-0.2% |
|
|
|
10:00 |
EUR |
1.7% |
1.7% |
|
|
|
13:30 |
USD |
0.2% |
0.1% |
|
|
|
13:30 |
USD |
0.6% |
0.8% |
|
|
|
13:30 |
USD |
0.5% |
0.0% |
|
|
|
13:30 |
USD |
0.7% |
0.8% |
|
|
|
14:15 |
USD |
0.2% |
0.6% |
|
|
|
14:55 |
USD |
74.1 |
74.3 |
Government Bond Auction
Date Time Country
Sep 14 10:00 Belgium
Gold Forecast May 27, 2013, Technical Analysis
AUD/USD Forecast May 27, 2013, Technical Analysis
EUR/USD Forecast May 27, 2013, Technical Analysis
Friendly Durable Goods Report Reverses EUR/USD to Down
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
