Silver Fundamental Analysis January 17, 2013 Forecast

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

Silver Fundamental Analysis January 17, 2013 Forecast

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% 

 

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% 

 

1.8% 

 

 

 

 

USD

 

 

Core CPI (YoY) 

1.9%

 

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 

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    
Share Your Thoughts: Post a Comment


Your email address will not be published.


include_once( __DIR__ . "/request_context.php");