Silver Fundamental Analysis October 26, 2012 Forecast

Posted October 25, 2012 17:01 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
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Analysis and Recommendations:

Silver added 44 cents today to trade at 32.065 following the trend in precious metals and industrial metals. Gold slightly gained along with strong equities, but prices are still trading near seven week low levels. Prices opened near $1700 an ounce, slightly recovered from its previous session losses and are now trading at $1714.30 an ounce. Reviving physical demand from India ahead of the key festive Diwali helped prices. Base metals fell, with aluminum the top loser in LME. LME aluminum dropped almost 0.60 percent October prices plunged more than one percent. Copper, Zinc and Lead are trading weak in London market as well but Nickel is trading with mild positive bias. Manufacturing data from the US and China and the Federal Reserve’s policy decision influenced the sentiments

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 25, 2012 actual v. forecast

Date	Currency	Event	Actual	Forecast	Previous
Oct. 25	HUF	Hungarian Retail Sales (YoY)	-2.40%	-2.20%	-2.60%
	SEK	Swedish Interest Rate Decision	1.25%	1.25%	1.25%
	GBP	GDP (QoQ)	1.0%	0.6%	-0.4%
	GBP	GDP (YoY)	0.0%	-0.5%	-0.5%
	BRL	Brazilian Unemployment Rate	5.4%	5.3%	5.3%
	USD	Core Durable Goods Orders (MoM)	2.0%	0.8%	-2.1%
	USD	Durable Goods Orders (MoM)	9.9%	7.1%	-13.1%
	USD	Initial Jobless Claims	369K	370K	392K
	USD	Continuing Jobless Claims	3254K	3255K	3256K
	MXN	Mexican Trade Balance	0.234B	-1.318B	-0.979B
	USD	Pending Home Sales (MoM)	0.3%	2.1%	-2.6%

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

Date	Time	Currency	Event	Forecast	Previous
Oct. 26	07:00	EUR	GfK German Consumer Climate	5.9	5.9
	08:00	CHF	KOF Leading Indicators	1.63	1.67
	13:30	USD	GDP (QoQ)	1.9%	1.3%
	14:55	USD	Michigan Consumer Sentiment	83.0	83.1

Government Bond Auction

Date Time Country

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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