Silver Fundamental Analysis August 8, 2012, Forecast

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Analysis and Recommendations:

Silver had a strong day, adding 0.182 to trade at 28.045. Industrial metals were strong in today’s session.

Gold and silver were seen trading in thin ranges as attempts to inch higher in tandem with the international market were supported by the weakened greenback. Meanwhile, base metals were seen paring its earlier losses in LME as investors await the Chinese industrial numbers slated for release on Thursday for fresh leads to assess the economic condition in the top consumer. Hopes of ECB action lend support, limiting losses. Tracking the rebound in the international market, base metals moved to a greener turf following initial losses.

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 7, 2012 actual v. forecast

Date

 

Currency

 

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Aug. 07

 

AUD

 

 

 

Interest Rate Decision 

3.50%

 

3.50% 

 

3.50% 

 

 

 

 

AUD

 

 

 

RBA Rate Statement 

 

 

 

 

 

 

 

 

 

CHF

 

 

 

Unemployment Rate 

2.9%

 

2.9% 

 

2.9% 

 

 

 

 

CHF

 

 

 

CPI (MoM) 

-0.5%

 

-0.6% 

 

-0.3% 

 

 

 

 

GBP

 

 

 

Industrial Production (MoM) 

-2.5%

 

-3.4% 

 

1.0% 

 

 

 

 

GBP

 

 

 

Manufacturing Production (MoM) 

-2.9%

 

-4.1% 

 

1.2% 

 

 

 

 

GBP

 

 

 

Industrial Production (YoY) 

-4.3%

 

-5.0% 

 

-1.8% 

  

 

 

EUR

 

 

 

German Factory Orders (MoM) 

-1.7%

 

-1.0% 

 

0.7% 

  

 

 

CAD

 

 

 

Building Permits (MoM) 

-2.5%

 

-4.0% 

 

7.1% 

  

 

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

Date

Time

Currency

Event 

Previous

Aug 8

5:45

CHF

SECO Consumer Climate

-8

 

9:30

GBP

BOE Inflation Report

 
 

10:00

EUR

German Industrial Production m/m

1.6%

 

12:30

USD

Prelim Nonfarm Productivity q/q

-0.9%

 

12:30

USD

Prelim Unit Labor Costs q/q

1.3%

 

14:30

USD

Crude Oil Inventories

 

Aug 9

8:00

EUR

ECB Monthly Bulletin

 
 

8:30

GBP

Trade Balance

-8.4B

 

12:30

USD

Trade Balance

-48.7B

 

12:30

USD

Unemployment Claims

 

Aug 10

6:45

EUR

French Industrial Production m/m

-1.9%

 

8:30

GBP

PPI Input m/m

-2.2%

 

12:30

USD

Import Prices m/m

-2.7%

 

18:00

USD

Federal Budget Balance

-59.7B

Government Bond Auctions

Date  Time  Country 

Aug 08  09:30  Germany

Aug 08  10:00  Norway

Aug 08  15:30  Italy

Aug 08  17:00  US

Aug 09  15:30  Italy

Aug 09  17:00  US

Aug 10  10:00  Belgium

Aug 13  09:10  Italy

Aug 13  09:10  Norway

Aug 13  09:30  Germany

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