Silver Fundamental Analysis September 14, 2012, Forecast

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Analysis and Recommendations:

Silver dipped a bit today ahead of the FOMC announcement as market focus is only on the upcoming statements. Precious metals remain strong as well as industrial metals on the hopes of stimulus here and in China. With silver surging to new highs, a lot of profit taking has been seen as soon as silver broke above 33.00.

A lot is riding on today’s announcements from the Fed. Also the Chinese Premier assured markets that China would meet its 2012 GDP forecast and would offer whatever stimulus was necessary to get the economy moving at a faster pace. The new infrastructure program will increase the demand for industrial 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 up to the data analysis and information in our weekly reports.

Economic Data September 13, 2012 actual v. forecast

 

Date

 

 

 

Currency

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Sep. 13

 

KRW

 

 

South Korean Interest Rate Decision 

3.00%

 

2.75% 

 

3.00% 

 

 

 

 

CHF

 

 

PPI (MoM) 

0.5%

 

-0.4% 

 

-0.3% 

 

 

 

 

CHF

 

 

Interest Rate Decision 

0.00%

 

0.00% 

 

0.00% 

 

 

 

 

EUR

 

 

ECB Monthly Report 

 

 

 

 

 

 

 

 

 

USD

 

 

Core PPI (MoM) 

 

 

0.2% 

 

0.4% 

 

 

 

 

USD

 

 

PPI (MoM) 

 

 

1.1% 

 

0.3% 

 

 

 

 

USD

 

 

Initial Jobless Claims 

 

 

370K 

 

365K 

 

 

 

 

USD

 

 

Continuing Jobless Claims 

 

 

3318K 

 

3322K 

 

 

 

 

USD

 

 

PPI (YoY) 

 

 

1.4% 

 

0.5% 

 

 

 

 

USD

 

 

Core PPI (YoY) 

 

 

2.6% 

 

2.5% 

 

 

 

 

USD

 

 

Interest Rate Decision 

 

 

0.25% 

 

0.25% 

  

 

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

Sep. 14

10:00

EUR

CPI (YoY) 

2.6% 

2.6% 

 

10:00

EUR

Employment Change (QoQ) 

-0.2% 

-0.2% 

 

10:00

EUR

Core CPI (YoY) 

1.7% 

1.7% 

 

13:30

USD

Core CPI (MoM) 

0.2% 

0.1% 

 

13:30

USD

Core Retail Sales (MoM) 

0.6% 

0.8% 

 

13:30

USD

CPI (MoM) 

0.5% 

0.0% 

 

13:30

USD

Retail Sales (MoM) 

0.7% 

0.8% 

 

14:15

USD

Industrial Production (MoM) 

0.2% 

0.6% 

 

14:55

USD

Michigan Consumer Sentiment 

74.1 

74.3 

Government Bond Auction

Date Time Country 

Sep 14 10:00 Belgium

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About:FX Empire Analyst - Barry Norman

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