Silver Fundamental Analysis August 1, 2012, Forecast

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Analysis and Recommendations:

Silver is trading at 28.068 adding 0.035 bucking the trend, as investors pre-positioned themselves before the FOMC statement on Wednesday and hopes of monetary stimulus from the US, which will be followed by the ECB on Thursday.

Markets are hoping that the additional stimulus will boost the economies around the globe and silver will prosper from industrial and precious metals.

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 recent analysis and information in our weekly reports and we provide daily updates and outlooks.

 

Upcoming Economic Events that affect the USD

Date

Time

Currency

Event 

Forecast

Previous

Aug 1

12:15

USD

ADP Non-Farm Employment Change

 

176K

 

14:00

USD

ISM Manufacturing PMI

 

49.7

 

14:30

USD

Crude Oil Inventories

 

2.7M

 

18:15

USD

FOMC Statement

   
 

18:15

USD

Federal Funds Rate

<0.25%

<0.25%

Aug 2

12:30

USD

Unemployment Claims

 

353K

 

14:00

USD

Factory Orders m/m

 

0.7%

Aug 3

12:30

USD

Non-Farm Employment Change

 

80K

 

12:30

USD

Unemployment Rate

 

8.2%

 

12:30

USD

Average Hourly Earnings m/m

 

0.3%

 

14:00

USD

ISM Non-Manufacturing PMI

 

52.1

 

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About: FX Empire Analyst - Barry Norman

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