Silver Fundamental Analysis August 31, 2012, Forecast

Posted August 30, 2012 14:46 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
Add a comment

Category:

Fundamental Reports

Get Forex buy/sell signals directly to your email and by SMS.
To learn more click here

Analysis and Recommendations:

Silver is trading at 30.91 holding steady in today’s session. The metals packs and precious metals more or less spent the day frozen ahead of the Jackson Hole speech by Federal Reserve Chairman Bernanke.

Silver holdings of iShares silver trust, the largest ETF backed by the metal, declined to 9,763.53 tons, as on August 28

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 30, 2012 actual v. forecast

Date

Currency

Event

Actual

Forecast

Previous

Aug. 30

JPY

Retail Sales (YoY)

-0.8%

-0.2%

0.2%

AUD

Building Approvals (MoM)

-17.3%

-5.0%

-1.0%

AUD

Private New Capital Expenditure (QoQ)

3.4%

2.4%

7.7%

DKK

Danish Unemployment Rate

4.70%

4.70%

4.60%

EUR

German Unemployment Rate

6.8%

6.8%

EUR

German Unemployment Change

EUR

Italian 10-Year BTP Auction

5.82%

5.96%

USD

Core PCE Price Index (MoM)

0.0%

0.1%

0.2%

CAD

Current Account

-16.0B

-15.0B

-10.2B

USD

Personal Spending (MoM)

0.4%

0.4%

0.0%

USD

Initial Jobless Claims

374K

370K

374K

USD

Continuing Jobless Claims

3316K

3307K

3321K

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

Date	Time	Currency	Event	Forecast	Previous
Aug.31	07:00	GBP	Nationwide HPI (MoM)	0.1%	-0.7%
	10:00	EUR	CPI (YoY)	2.5%	2.4%
	14:45	USD	Chicago PMI	53.5	53.7
	14:55	USD	Michigan Consumer Sentiment	73.6	73.6

Government Bond Auctions

Aug 31 14:30 UK Publication of the Q4 Gilt operations calendar

Sep 03 09:10 Norway Bond auction

Sep 03 10:00 Belgium OLO auction

Sep 04 00:30 Japan Auctions 10Y JGBs

Sep 04 09:15 Austria Bond auction

Sep 04 09:30 Belgium Auctions Dec 2012 (3M) & Feb 2013 (6M) T-bills

Sep 04 14:30 UK Details 0.75% 2034 I/L Gilt & 1.75% Sep 2022 Gilt on Sep

Sep 05 09:10 Sweden Nominal bond auction

Sep 05 09:30 Germany Eur 5.0bn Sep 2022 Bund auction

Sep 05 09:30 UK 4.5% 2042 Gilt auction

Sep 06 00:30 Japan Auctions 30Y JGBs

Sep 06 08:30 Spain Bono auction

Sep 06 08:50 France OAT auction

Sep 06 09:10 Sweden I/L bond auction

Sep 06 15:00 US Announces 3Y Notes on Sep 11, 10Y Notes on Sep 12 &

Sep 07 15:30 Italy

Want to read more articles like this one?

Enter your e-mail address and read FX Empire content directly from your inbox.

We value your privacy. Your e-mail address will not be shared.

About: FX Empire Analyst - Barry Norman

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