Gold Fundamental Analysis September 24, 2012 Forecast
Add a comment
Fundamental Reports
To learn more click here
Analysis and Recommendations:
Gold climbed adding over 18.00 dollars today, to trade at 1786.35 on a combination of news from China that they PBoC had lowered rates to increase liquidity in on ongoing operation. Also on rumors that Spain has officially asked for a bailout.
Gold ticked higher retreating from the previous session’s liquidation pressure and is now hovering near $1770 an ounce. Economic stimulus measures taken by various central banks around the globe benefited bullion. After the US Fed and European Central Bank, the Bank of Japan increased the size of their asset purchases to raise the pace of domestic economic growth. Economic stimulus always supported bullion due to its inflation hedge appeal.
At the same time, contracting manufacturing activities in US, Europe and China is signaling chances of more stimulus measures. The dollar index eased after rebounding from its multi-month lows while the Euro slightly recovered. Yesterday’s US jobless claims and manufacturing data influenced the dollar index as well. Meanwhile, reviving interest in bullion has attracted more investors into Exchange Traded Funds. The world’s top gold exchange traded fund the SPDR Gold trust reported their current holdings are the highest level since August. Physical demand from India is expected to pick up in the coming session amid the key festive Diwali and marriage based demand.
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 21, 2012 actual v. forecast
|
Date |
|
Currency |
|
|
Event |
Actual |
|
Forecast |
|
Previous |
|
|
|
Sep. 21 |
|
AUD |
|
|
CB Leading Index (MoM) |
0.0% |
|
|
|
0.5% |
||
|
|
|
NZD |
|
|
Credit Card Spending (YoY) |
1.0% |
|
|
|
0.1% |
|
|
|
|
|
EUR |
|
|
Dutch Consumer Spending |
-1.50 |
|
|
|
-0.50 |
||
|
|
|
GBP |
|
|
Public Sector Net Borrowing |
12.4B |
|
13.3B |
|
-1.9B |
||
|
|
|
CAD |
|
|
Core CPI (MoM) |
0.3% |
|
0.3% |
|
-0.1% |
|
|
|
|
|
CAD |
|
|
CPI (MoM) |
0.2% |
|
0.4% |
|
-0.1% |
|
|
|
|
|
CAD |
|
|
Wholesale Sales (MoM) |
-0.6% |
|
-0.1% |
|
-0.3% |
||
|
|
|
CAD |
|
|
CPI (YoY) |
1.2% |
|
1.0% |
|
1.3% |
|
|
|
|
|
EUR |
|
|
Belgium NBB Business Climate |
-11.6 |
|
-11.2 |
|
-11.8 |
|
Upcoming Economic Events that affect the EUR ( there are no USD or CAD events )
|
Date |
Time |
Currency |
Event |
Forecast |
Previous |
|
Sep. 24 |
09:00 |
EUR |
102.1 |
102.3 |
|
|
|
09:00 |
EUR |
|
111.2 |
|
|
|
09:00 |
EUR |
|
94.2 |
Government Bond Auction
Date Time Country
Sep 24 09:10 Norway
Sep 24 09:30 Germany
Sep 24 10:00 Belgium
Sep 24 15:30 Italy
Sep 25 08:30 Holland
Sep 25 08:30 Spain
Sep 25 09:10 Italy
Sep 25 14:30 UK
Sep 25 17:00 US
Sep 26 09:10 Italy
Sep 26 09:10 Sweden
Sep 26 09:00 Germany
Sep 26 14:30 Sweden
Sep 26 17:00 US
Sep 27 00:30 Japan
Sep 27 09:10 Italy
Sep 27 17:00 US
AUD/USD forecast for the week of May 20, Technical Analysis
EUR/USD Forecast May 20, 2013, Technical Analysis
Gold forecast for the week of May 20, 2013, Technical
Fed Exit Strategy Speculation Drives EUR/USD Lower
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
