Silver Fundamental Analysis October 10, 2012 Forecast

Posted October 09, 2012 15:18 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
Add a comment

Category:

Fundamental Reports

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

Silver Fundamental Analysis October 10, 2012 Forecast

Analysis and Recommendations:

Silver is trading at 34.085 adding a few pips on the industrial metals side. Precious metals seem to be directionless in today’s session. The base metals pack is currently trading on a positive note extending gains of the last month. Significant gains were registered on account of stimulus measures popularly known as ‘QE 3’ by the US Federal Reserve amid rise in the risk appetite in the month of September. The World Bank cut its growth outlook for China to 7.7 percent from its forecast in the month of May at 8.2 percent. The region’s biggest economy has shown a slowdown on the back of Europe’s recession and dismal economic recovery of the US thereby adding to the pressure in the prices.

The weak sentiments, although got a boost through the US labor market where the unemployment rate fell to 7.8 percent in September from 8.1 percent in August. The Chinese manufacturing Purchasing Managers Index (PMI) expanded to 49.8 in September as against 49.2 in August. The National Development and Reform Commission of China has approved 60 infrastructure projects that includes building of highways, ports and air port runways to boost the slowing economic growth of the nation.

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 October 9, 2012 actual v. forecast

Date

Currency

Event

Actual

Forecast

Previous

Oct. 09

GBP

RICS House Price Balance

-15%

-20%

-18%

JPY

Adjusted Current Account

0.72T

0.52T

0.34T

AUD

NAB Business Confidence

-3

GBP

Industrial Production (MoM)

-0.5%

-0.5%

2.8%

GBP

Manufacturing Production (MoM)

-1.1%

-0.6%

3.1%

GBP

Trade Balance

-9.8B

-8.5B

-7.3B

GBP

Industrial Production (YoY)

-1.2%

-1.1%

-0.8%

CAD

Housing Starts

220.2K

208.0K

225.3K

GBP

NIESR GDP Estimate

0.8%

0.1%

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

Date	Time	Currency	Event	Forecast	Previous
Oct. 11	07:00	EUR	German CPI (YoY)	2.0%	2.0%
	07:45	EUR	French CPI (MoM)		0.7%
Oct. 12	10:00	EUR	Industrial Production (MoM)	-0.5%	0.6%

Government Bond Auction

Date Time Country

Oct 10 09:10 Italy

Oct 10 09:10 Sweden

Oct 10 09:30 Germany

Oct 10 09:30 Swiss

Oct 10 14:30 Sweden

Oct 10 17:00 US

Oct 11 09:10 Italy

Oct 11 09:10 Sweden

Oct 11 09:30 UK

Oct 11 15:00 US

Oct 11 17:00 US

Oct 12 09:30 Germany

Oct 12 10:00 Belgium

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