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.

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 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

 

 

 

 

 

 

 

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

PPI m/m

 

-0.1%

9:00

EUR

Industrial Production m/m

 

-0.3%

12:30

USD

PPI m/m

 

-0.2%

12:30

USD

Retail Sales m/m

 

0.1%

14:00

USD

Business Inventories m/m

 

0.3%

14:30

USD

Crude Oil Inventories

 

-0.1M

Jun 14

7:30

CHF

Libor Rate

<0.25%

<0.25%

7:30

CHF

SNB Monetary Policy Assessment

  

7:30

CHF

SNB Press Conference

  

8:00

CHF

SNB Financial Stability Report

  

8:00

EUR

ECB Monthly Bulletin

  

9:00

EUR

CPI y/y

 

2.4%

12:30

USD

Unemployment Claims

 

377K

12:30

USD

CPI m/m

 

0.0%

12:30

USD

Current Account

 

-124B

Jun 15

8:30

GBP

Trade Balance

 

-8.6B

12:30

USD

Empire State Manufacturing Index

 

17.1

13:00

USD

TIC Long-Term Purchases

 

36.2B

13:15

USD

Capacity Utilization Rate

 

79.2%

13:15

USD

Industrial Production m/m

 

1.1%

13:55

USD

Prelim UoM Consumer Sentiment

 

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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