Silver Fundamental Analysis August 24, 2012, Forecast
Add a comment
Fundamental Reports
To learn more click here
Analysis and Recommendations:
Silver climbed today to trade at 30.445 breaking that psychological 30 number. Silver futures hit a fresh nearly four-month high overnight. This week’s price action in silver has produced a big and bullish upside breakout from a sideways and choppy trading range that had been in place on the daily bar chart. Silver bulls have the overall near-term technical advantage and have well upside momentum. Bulls’ next upside price breakout objective is closing prices above solid technical resistance at $31.50 an ounce
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 August 23, 2012 actual v. forecast
|
Aug. 23 |
|
CNY |
|
|
Chinese HSBC Manufacturing PMI |
47.80 |
|
|
49.30 |
||
|
|
|
EUR |
|
|
German GDP (QoQ) |
0.3% |
|
0.3% |
|
0.3% |
|
|
|
|
EUR |
|
|
German GDP (YoY) |
0.5% |
|
0.5% |
|
0.5% |
|
|
|
|
EUR |
|
|
French Manufacturing PMI |
46.2 |
|
43.6 |
|
43.4 |
|
|
|
|
EUR |
|
|
German Manufacturing PMI |
45.1 |
|
43.4 |
|
43.0 |
|
|
|
|
SEK |
|
|
Swedish Unemployment Rate |
7.00% |
|
7.20% |
|
8.80% |
|
|
|
|
EUR |
|
|
Manufacturing PMI |
45.3 |
|
44.2 |
|
44.0 |
|
|
|
|
NOK |
|
|
Norwegian GDP (QoQ) |
1.2% |
|
1.0% |
|
1.5% |
|
|
|
|
GBP |
|
|
BBA Mortgage Approvals |
28.4K |
|
28.2K |
|
25.9K |
|
|
|
|
GBP |
|
|
CBI Distributive Trades Survey |
-3 |
|
15 |
|
11 |
|
|
|
|
USD |
|
|
Initial Jobless Claims |
372K |
|
365K |
|
368K |
|
|
|
|
USD |
|
|
Continuing Jobless Claims |
3317K |
|
3300K |
|
3313K |
|
|
|
|
USD |
|
|
New Home Sales |
|
365K |
|
350K |
Upcoming Economic Events that affect the CHF, EUR, GBP and North American markets
|
Aug. 24 |
08:00 |
|
HUF |
|
|
Hungarian Retail Sales (YoY) |
|
|
-2.40% |
|
-2.50% |
|
|
09:30 |
|
GBP |
|
|
Business Investment (QoQ) |
|
|
2.8% |
|
1.9% |
|
|
09:30 |
|
GBP |
|
|
GDP (QoQ) |
|
|
-0.5% |
|
-0.7% |
|
|
09:30 |
|
GBP |
|
|
GDP (YoY) |
|
|
-0.6% |
|
-0.8% |
|
|
13:30 |
|
USD |
|
|
Core Durable Goods Orders (MoM) |
|
|
0.5% |
|
-1.4% |
|
|
13:30 |
|
USD |
|
|
Durable Goods Orders (MoM) |
|
|
2.4% |
|
1.3% |
Government Bond Auctions
Date Time Country
23/8 05:45 Japan
23/8 11:30 UK
23/8 19:00 US
27/8 11:30 Germany
28/8 10:30 Spain
28/8 11:00 Italy
28/8 19:00 US
29/8 11:00 Italy
29/8 19:00 US
30/8 05:35 Japan
30/8 11:00 Italy
30/8 19:00 US
Friendly Durable Goods Report Reverses EUR/USD to Down
EUR/USD Forecast May 27, 2013, Technical Analysis
AUD/USD Forecast May 27, 2013, Technical Analysis
Gold Forecast May 27, 2013, Technical Analysis
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
