Silver Fundamental Analysis October 12, 2012 Forecast

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Silver Fundamental Analysis October 12, 2012 Forecast

Silver Fundamental Analysis October 12, 2012 Forecast

Analysis and Recommendations:

Silver climbed to trade at 34.113 after positive eco data showed a drop in unemployment claims in the US. A more positive sentiment in global markets helped push silver up today, as traders took comfort in positive jobs data from the US to move to more risk assets. Also the better than expected report supports the notion that the US economy is now back in growth and rebound more. Supporting the metals on both sides, precious and industrial.

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 11, 2012 actual v. forecast

Date

 

Currency

 

 

Event

Actual

Forecast

Previous

Oct. 11

 

JPY

 

 

Monetary Policy Meeting Minutes 

 

 

 

 

 

AUD

 

 

Employment Change 

14.5K

3.8K 

-9.1K 

 

 

AUD

 

 

Unemployment Rate 

5.4%

5.3% 

5.1% 

 

 

KRW

 

 

South Korean Interest Rate Decision 

2.75%

2.75% 

3.00% 

 

 

EUR

 

 

German CPI (MoM) 

0.0%

0.0% 

0.4% 

 

 

EUR

 

 

German CPI (YoY) 

2.0%

2.0% 

2.1% 

 

 

INR

 

 

Indian Trade Balance 

-18.1B

 

-15.6B 

 

 

EUR

 

 

French CPI (MoM) 

-0.3%

0.1% 

0.7% 

 

 

HUF

 

 

Hungarian CPI (YoY) 

6.6%

6.4% 

6.0% 

 

 

SEK

 

 

Swedish CPI (YoY) 

0.4%

0.7% 

0.7% 

 

 

EUR

 

 

ECB Monthly Report 

 

 

 

 

 

USD

 

 

Import Price Index (MoM) 

1.1%

0.7% 

1.1% 

 

 

CAD

 

 

Trade Balance 

-1.3B

-2.0B 

-2.5B 

 

 

USD

 

 

Trade Balance 

-44.2B

-44.0B 

-42.5B 

 

 

USD

 

 

Initial Jobless Claims 

339K

370K 

369K 

 

 

USD

 

 

Continuing Jobless Claims 

3273K

3275K 

3288K 

 

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

Date

Time

Currency

Event

Forecast

Previous

 Oct. 12

10:00

EUR

Industrial Production (MoM) 

-0.4% 

0.6% 

 

13:30

USD

Core PPI (MoM) 

0.2% 

0.2% 

 

13:30

USD

PPI (MoM) 

0.8% 

1.7% 

 

14:55

USD

Michigan Consumer Sentiment 

77.9 

78.3 

Government Bond Auction

Date Time Country 

Oct 12 09:30 Germany 

Oct 12 10:00 Belgium

 

 

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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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srinivas bhat

technically silver always bearish in month of october. it very bullish in month of november, so do we buy more silver now ?
am not very clear about fundamental of silver.so plz assist me about the long in silver commodity market.
many news letter wee revealin that in comming months growth rate of silver is more than gold.
so invest in silver is more better than gold or not?

FX Empire Analyst - Barry Norman

i will try to add more to the daily forecasts for you

 
 

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