Silver Fundamental Analysis August 14, 2013 Forecast

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Silver Fundamental Analysis August 14, 2013 Forecast

Silver Fundamental Analysis August 14, 2013 Forecast

Analysis and Recommendations:

Silver is trading at 21.443 gaining 10 cents and is outperforming the entire market today as forex and commodities remained fairly flat with little volume or volatility today. At the beginning of the week silver At the beginning of the week silver took advantage of the weakness in the dollar, together with what appears to be a boost to Chinese industrial growth on the latest data, with a reduction in talk of Fed tapering has led to a mini-surge in the gold price, while silver has done even better living up to its tendency to outperform gold on the up.

Recent reports point to a huge increase in silver demand in India as the government attempts, only partially successfully, to stem gold imports by implementing sharp tax increases on them.  Silver imports thus appear to be rising sharply as there is no such import tariffs applied to them. Meanwhile outflows from silver ETFs which took place when the prices tanked have also staged a really strong recovery, sales of U.S. silver bullion coins have also remained very high indeed and have been at record levels suggesting investor interest in both East and West is running strong again.

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.                                                                                        

Economic Data August 13, 2013 actual v. forecast

Date

 

Currency

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Aug. 13

 

GBP

 

 

RICS House Price Balance 

36%

 

25% 

 

21% 

 

 

 

 

JPY

 

 

Monetary Policy Meeting Minutes 

 

 

 

 

 

 

 

 

 

JPY

 

 

Core Machinery Orders (YoY) 

4.9%

 

2.4% 

 

16.5% 

 

 

 

 

AUD

 

 

NAB Business Confidence 

-3

 

 

 

 

 

 

 

EUR

 

 

German CPI (MoM) 

0.5%

 

0.5% 

 

0.5% 

 

 

 

 

EUR

 

 

German CPI (YoY) 

1.9%

 

1.9% 

 

1.9% 

 

 

 

 

HUF

 

 

Hungarian CPI (YoY) 

1.8%

 

2.1% 

 

1.9% 

 

 

 

 

EUR

 

 

Spanish CPI (YoY) 

1.8%

 

1.8% 

 

2.1% 

 

 

 

 

SEK

 

 

Swedish CPI (YoY) 

0.1%

 

-0.1% 

 

-0.1% 

 

 

 

 

NOK

 

 

Norwegian Core Retail Sales (MoM) 

-0.20%

 

-0.80% 

 

1.80% 

 

 

 

 

GBP

 

 

CPI (YoY) 

2.8%

 

2.8% 

 

2.9% 

 

 

 

 

GBP

 

 

PPI Input (MoM) 

1.1%

 

1.4% 

 

0.2% 

 

 

 

 

GBP

 

 

CPI (MoM) 

0.0%

 

0.1% 

 

-0.2% 

 

 

 

 

EUR

 

 

German ZEW Economic Sentiment 

42.0

 

40.0 

 

36.3 

 

 

 

 

EUR

 

 

Industrial Production (MoM) 

0.7%

 

0.8% 

 

-0.2% 

  

 

 

EUR

 

 

ZEW Economic Sentiment 

44.0

 

37.4 

 

32.8 

 

 

 

 

EUR

 

 

Industrial Production (YoY) 

0.3%

 

0.2% 

 

-1.3% 

 

 

 

 

USD

 

 

Retail Sales (MoM) 

 

 

0.3% 

 

0.4% 

 

 

 silver 0813bnsnla

Upcoming Economic Events that affect the CHF, EUR, GBP and USD

Date

Time

Currency

Event

Forecast

Previous

 Aug. 14

06:30

EUR

French GDP (QoQ) 

0.1%

-0.2%

 

07:00

EUR

German GDP (QoQ) 

0.6%

0.1%

 

07:00

EUR

German GDP (YoY) 

0.2%

-1.4%

 

07:45

EUR

French CPI (MoM) 

 

0.2%

 

07:45

EUR

French Non-Farm Payrolls (QoQ) 

 

-0.1%

 

09:30

GBP

Average Earnings Index +Bonus 

 

1.7%

 

09:30

GBP

Claimant Count Change 

 

-21.2K

 

10:00

EUR

GDP (QoQ) 

0.1%

-0.2%

 

13:30

USD

Core PPI (MoM) 

0.2%

0.2%

 

13:30

USD

PPI (MoM) 

0.4%

0.8%

 

13:30

USD

PPI (YoY) 

2.4%

2.5%

 

13:30

USD

Core PPI (YoY) 

1.4%

1.7%

Government Bond Auction

Date Time Country 

Aug 14 08:30 Spain

Aug 14 09:30 Germany

Aug 15 09:30 UK

Aug 15 11:00 Norway

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