Silver Fundamental Analysis June 13, 2012, Forecast
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Analysis and Recommendations:
Silver ended the day at 28.913 following closely in gold’s footprints, so much so that the chart below depicts gold and silver movement for the day, and as you can see silver matched gold’s moves pip by pip.
Metals were down in early trading but by mid day, investor sentiments had returned to risk aversion and safe haven and gold was the favored player today accompanied by silver and the USD.
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Economic Data for June 12, 2012 actual v. forecast
|
Date |
|
Currency |
|
|
Event |
Actual |
|
Forecast |
|
Previous |
|
|
|
|
Jun. 12 |
|
GBP |
|
|
RICS House Price Balance |
-16% |
|
-18% |
|
-19% |
|
||
|
|
|
JPY |
|
|
Tertiary Industry Activity Index (MoM) |
-0.3% |
|
0.4% |
|
-0.6% |
|
||
|
|
|
JPY |
|
|
BoJ Governor Shirakawa Speaks |
|
|
|
|
|
|
||
|
|
|
AUD |
|
|
NAB Business Confidence |
-2 |
|
|
|
4 |
|
||
|
|
|
EUR |
|
|
French Non-Farm Payrolls (QoQ) |
0.1% |
|
0.1% |
|
0.1% |
|
||
|
|
|
GBP |
|
|
Industrial Production (MoM) |
0.0% |
|
0.1% |
|
-0.3% |
|
||
|
|
|
GBP |
|
|
Manufacturing Production (MoM) |
-0.7% |
|
-0.2% |
|
0.9% |
|
||
|
|
|
GBP |
|
|
Industrial Production (YoY) |
-1.0% |
|
-1.0% |
|
-2.6% |
|
||
|
|
|
USD |
|
|
Import Price Index (MoM) |
-1.0% |
|
-1.0% |
|
0.0% |
|||
|
|
|
GBP |
|
|
NIESR GDP Estimate |
0.1% |
|
|
|
-0.1% |
Upcoming Economic Events that affect the CHF, EUR, GBP and USD
|
Date |
Time |
Currency |
Event |
Forecast |
Previous |
|
Jun 13 |
7:15 |
CHF |
-0.1% |
||
|
9:00 |
EUR |
-0.3% |
|||
|
12:30 |
USD |
-0.2% |
|||
|
12:30 |
USD |
0.1% |
|||
|
14:00 |
USD |
0.3% |
|||
|
14:30 |
USD |
-0.1M |
|||
|
Jun 14 |
7:30 |
CHF |
<0.25% |
<0.25% |
|
|
7:30 |
CHF |
||||
|
7:30 |
CHF |
||||
|
8:00 |
CHF |
||||
|
8:00 |
EUR |
||||
|
9:00 |
EUR |
2.4% |
|||
|
12:30 |
USD |
377K |
|||
|
12:30 |
USD |
0.0% |
|||
|
12:30 |
USD |
-124B |
|||
|
Jun 15 |
8:30 |
GBP |
-8.6B |
||
|
12:30 |
USD |
17.1 |
|||
|
13:00 |
USD |
36.2B |
|||
|
13:15 |
USD |
79.2% |
|||
|
13:15 |
USD |
1.1% |
|||
|
13:55 |
USD |
79.3 |
Government Bond Auctions
Date Time Country
Jun 13 09:10 Italy
Jun 13 09:30 Germany
Jun 13 09:30 Swiss
Jun 13 17:00 US
Jun 14 09:10 Italy
Jun 14 09:30 UK
Jun 14 15:00 US
Jun 14 17:00 US
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