Silver Fundamental Analysis October 24, 2012 Forecast

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Silver Fundamental Analysis October 24, 2012 Forecast

Silver Fundamental Analysis October 24, 2012 Forecast

Analysis and Recommendations:

Silver is trading at 31.915 declining 0.337 for the day as a strong US dollar pushed down prices today. The U.S. Dollar Index climbed to a one-week high against a basket of currencies after Moody’s Investors Service cut the credit ratings of five Spanish regions and the nation’s gross domestic product shrank for a fifth quarter. French industrial confidence fell to the lowest in more than three years. Gold has declined 4 percent this month, giving up the gains it made after the Federal announced a third round of debt-buying on Sept. 13. The Fed concludes a meeting tomorrow.

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 23, 2012 actual v. forecast

Date

 

Currency

 

 

Event

Actual

 

Forecast

 

Previous

Oct. 23

 

PLN

 

 

Polish Unemployment Rate 

12.40%

 

12.50%

 

12.40% 

 

 

GBP

 

 

BBA Mortgage Approvals 

31.2K

 

30.9K

 

30.7K 

 

 

CAD

 

 

Core Retail Sales (MoM) 

0.4%

 

0.2%

 

0.5% 

 

 

CAD

 

 

Retail Sales (MoM) 

0.3%

 

0.4%

 

0.7% 

 

 

CAD

 

 

Interest Rate Decision 

1.00%

 

1.00%

 

1.00% 

 

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 

44.0

42.7 

 

08:28

EUR

German Manufacturing PMI 

48.0

47.4 

 

09:00

EUR

German Ifo Business Climate Index 

101.6

101.4 

 

09:00

EUR

German Current Assessment 

109.7

110.3 

 

09:00

EUR

German Business Expectations 

94.3

93.2 

 

11:00

GBP

CBI Industrial Trends Orders 

 

-8 

 

15:00

USD

New Home Sales

385K

373K

Oct.26 

07:00

EUR

GfK German Consumer Climate 

5.9

5.9 

 

08:00

CHF

KOF Leading Indicators 

1.67

1.67 

Government Bond Auction

Date Time Country 

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

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