Silver Fundamental Analysis October 22, 2012 Forecast

Posted October 19, 2012 16:57 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
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Silver Fundamental Analysis October 22, 2012 Forecast

Analysis and Recommendations:

Silver followed cues from gold and the overall metals pack to drop to 32.43 in today’s session, down 1.33%. Spot silver prices declined 1.4 percent today. Additionally, a stronger DX also acted as a negative factor for the white metal prices. Base metal prices traded on a weak note on the back of weak global market sentiments along with uncertainty over Spain’s bailout. Further, strength in the US Dollar Index (DX) also exerted downside pressure on the base metals.

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 19, 2012 actual v. forecast

Date

Currency

Event

Actual

Forecast

Previous

Oct. 19

JPY

BoJ Governor Shirakawa Speaks

CAD

Core CPI (MoM)

0.2%

0.4%

0.3%

CAD

CPI (MoM)

0.2%

0.3%

0.2%

CAD

CPI (YoY)

1.2%

1.0%

1.2%

USD

Existing Home Sales

4.75M

4.75M

4.83M

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

Date	Time	Currency	Event	Forecast	Previous
Oct. 24	07:58	EUR	French Manufacturing PMI		42.7
	08:28	EUR	German Manufacturing PMI		47.4
	09:00	EUR	German Ifo Business Climate Index	101.0	101.4
	09:00	EUR	German Current Assessment		110.3
	09:00	EUR	German Business Expectations		93.2
	11:00	GBP	CBI Industrial Trends Orders		-8

Government Bond Auction

Date Time Country

Oct 22 09:10 Norway

Oct 23 08:30 Spain

Oct 23 14:30 UK

Oct 23 17:00 US

Oct 24 09:10 Sweden

Oct 24 09:30 Germany

Oct 24 14:30 Sweden

Oct 24 15:30 Italy

Oct 24 16:30 US

Oct 25 00:30 Japan

Oct 25 09:10 Sweden

Oct 25 15:30 Italy

Oct 25 17:00 US

Oct 26 09:10 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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