Silver Fundamental Analysis October 1, 2012, Forecast

Posted September 28, 2012 15:45 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
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Analysis and Recommendations:

Silver dipped today to trade at 34.626 on mostly profit taking and a change in investor sentiment, with poor eco data from the US, upsetting the apple cart. Late in the day silver and gold turned from profits to losses after US data showed consumer sentiment declined and the Chicago PMI broke below 50.

The overall metals pack is still well supported on hopes of stimulus from China.

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 September 28, 2012 actual v. forecast

Date

Currency

Event

Actual

Forecast

Previous

Sep. 28

KRW

South Korean Industrial Production (YoY)

0.3%

0.4%

0.2%

JPY

Unemployment Rate

4.2%

4.3%

JPY

Tokyo Core CPI (YoY)

-0.4%

-0.3%

-0.5%

JPY

Industrial Production (MoM)

-1.3%

-0.5%

-1.0%

JPY

Retail Sales (YoY)

1.8%

-0.2%

-0.8%

EUR

French GDP (QoQ)

0.0%

0.0%

EUR

French Consumer Spending (MoM)

0.4%

-0.1%

0.4%

CHF

KOF Leading Indicators

1.67

1.57

1.59

EUR

CPI (YoY)

2.7%

2.4%

2.6%

USD

Core PCE Price Index (MoM)

0.1%

0.1%

CAD

GDP (MoM)

0.2%

0.2%

0.1%

USD

Personal Spending (MoM)

0.5%

0.5%

0.4%

USD

Chicago PMI

49.7

53.0

USD

Michigan Consumer Sentiment

78.3

79.0

79.2

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

Date	Time	Currency	Event	Forecast	Previous
Oct. 01	08:15	CHF	Retail Sales (YoY)	5.0%	3.2%
	08:30	CHF	SVME PMI	47.0	46.7
	15:00	USD	ISM Manufacturing Index	49.8	49.6

Government Bond Auction

Date Time Country

Oct 01 10:00 Norway

Oct 02 09:15 Austria

Oct 02 09:30 Belgium

Oct 02 09:30 UK

Oct 02 14:30 UK

Oct 03 09:10 Sweden

Oct 03 10:00 Norway

Oct 04 08:30 Spain

Oct 04 08:50 France

Oct 04 15:00 US

Oct 05 15:30 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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