Silver Fundamental Analysis October 24, 2012 Forecast

Posted October 23, 2012 16:29 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
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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

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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