Silver Fundamental Analysis October 15, 2012 Forecast

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Silver Fundamental Analysis October 15, 2012 Forecast

Silver Fundamental Analysis October 15, 2012 Forecast

Analysis and Recommendations:

Silver is trading at 33.735 on a fairly quiet Friday. Silver took its cues from gold today as traders sold off precious metals. Silver futures prices have also drifted lower at present moment on the back of mostly worries about growth and Chinese data due this weekend.

Silver still seems bearish today as the reports today may forecast a continued weakness in Euro zone industrial production while the US PPI was neutral and Michigan confidence soared well above expectations. Weakening Europe is therefore likely to keep silver under pressure.

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 12, 2012 actual v. forecast

Date

 

Currency

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Oct. 12

 

JPY

 

 

Tertiary Industry Activity Index (MoM) 

0.4%

 

0.5% 

 

-1.9% 

   

 

 

INR

 

 

Indian Industrial Production (YoY) 

2.7%

 

1.1% 

 

-0.2% 

   

 

 

EUR

 

 

Industrial Production (MoM) 

0.6%

 

-0.4% 

 

0.6% 

 

 

 

 

USD

 

 

Core PPI (MoM) 

0.0%

 

0.2% 

 

0.2% 

 

 

 

 

USD

 

 

PPI (MoM) 

1.1%

 

0.7% 

 

1.7% 

 

 

 

 

USD

 

 

PPI (YoY) 

2.1%

 

1.8% 

 

2.0% 

 

 

 

 

USD

 

 

Core PPI (YoY) 

2.3%

 

2.5% 

 

2.5% 

 

 

 

 

USD

 

 

Michigan Consumer Sentiment 

83.1

 

78.0 

 

78.3 

   

 

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

Date

Time

Currency

Event

Previous

Oct. 15 

08:15

CHF

PPI (MoM) 

0.5%

Government Bond Auction

Date Time Country 

Oct 15 09:10 Slovakia 

Oct 15 10:00 Norway 

Oct 16 08:30 Spain 

Oct 16 09:10 Greece 

Oct 16 09:30 Belgium 

Oct 17 09:10 Sweden 

Oct 17 09:30 Germany 

Oct 17 09:30 Portugal 

Oct 17 10:00 Norway 

Oct 17 14:30 Sweden 

Oct 18 08:30 Spain 

Oct 18 08:50 France 

Oct 18 09:30 UK 

Oct 18 09:50 France 

Oct 18 14:30 Sweden 

Oct 18 15:00 US 

Oct 18 17:00 US 

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About: FX Empire Analyst - Barry Norman

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