Silver Fundamental Analysis January 17, 2013 Forecast

Posted January 16, 2013 15:18 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
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Silver Fundamental Analysis January 17, 2013 Forecast

Analysis and Recommendations:

Silver is following cues from gold and easing back a bit as precious metals drift after jumping over the past few sessions. Silver is trading at 31.298. The U.S. dollar index was slightly firmer early Wednesday, on some more short-covering from recent losses. The greenback bears still have the overall near-term technical advantage and that’s an underlying supportive factor for the precious metals. March silver has seen price action recently that suggests the market has put in a near-term bottom. Bulls and bears are presently on a level near-term technical playing field. Bulls’ next upside price breakout objective is closing prices above solid technical resistance at $32.50 an ounce. Silver also gained on sustained speculative demand on the back of steady industrial buying.

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 January 16, 2013 actual v. forecast

Date

Currency

Event

Actual

Forecast

Previous

Jan. 16

CHF

Retail Sales (YoY)

2.9%

3.2%

2.7%

EUR

CPI (YoY)

2.2%

2.2%

EUR

Core CPI (YoY)

1.5%

1.5%

1.4%

USD

Core CPI (MoM)

0.1%

0.2%

0.1%

USD

CPI (MoM)

0.0%

0.0%

-0.3%

USD

CPI (YoY)

1.7%

1.8%

USD

Core CPI (YoY)

1.9%

1.9%

USD

TIC Net Long-Term Transactions

52.3B

14.8B

-1.0B

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

Date	Time	Currency	Event	Forecast	Previous
Jan. 17	08:15	CHF	PPI (MoM)	0.1%	0.0%
	09:00	EUR	ECB Monthly Report
	13:30	USD	Building Permits	0.900M	0.899M
	13:30	USD	Housing Starts	0.888M	0.861M
	13:30	USD	Initial Jobless Claims	370K	371K
	13:30	USD	Continuing Jobless Claims		3109K
	15:00	USD	Philadelphia Fed Manufacturing Index	7.3	8.1

Upcoming Government Bond

Date Time Country

Jan 17 09:30 Spain

Jan 17 09:50 France

Jan 17 10:30 Ireland

Jan 17 10:30 UK

Jan 17 10:50 France

Jan 17 16:00 US

Jan 21 10:00 Slovakia

Jan 22 09:10 Holland

Jan 22 09:30 Spain

Jan 22 10:30 UK

Jan 23 10:10 Sweden

Jan 23 16:30 Italy

Jan 24 01:30 Japan

Jan 24 12:00 Norway

Jan 24 15:30 Sweden

Jan 24 16:00 US

Jan 24 16:30 Italy

Jan 24 18:00 US

Jan 25 16:30 Italy

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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

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