Silver Fundamental Analysis September 21, 2012 Forecast
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Analysis and Recommendations:
Silver is trading at 34.495 as traders sold off to take profits today, as the USD climbed and the metals pack declined on poor eco data from China and Japan.
Although precious metals remain on the positive side, they began to weaken on positive eco data from the US pushing the greenback higher. Also stimulus around the world is waning and traders are not so sure of the results or when we might see results as global economies are in more trouble then expected.
The EU still needs to deal with its debt crisis even though the ECB has once again gained more time for politicians and leaders to come up with a longer term solution.
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 September 20, 2012 actual v. forecast
|
Date |
|
Currency |
|
|
Event |
Actual |
|
Forecast |
|
Previous |
|
|
|
Sep. 20 |
|
JPY |
|
|
Trade Balance |
-0.47T |
|
-0.37T |
|
-0.37T |
||
|
|
|
CNY |
|
|
Chinese HSBC Manufacturing PMI |
47.80 |
|
|
|
47.60 |
|
|
|
|
|
EUR |
|
|
French Manufacturing PMI |
42.6 |
|
46.4 |
|
46.0 |
|
|
|
|
|
EUR |
|
|
German Manufacturing PMI |
47.3 |
|
45.3 |
|
44.7 |
|
|
|
|
|
EUR |
|
|
Manufacturing PMI |
46.0 |
|
45.4 |
|
45.1 |
|
|
|
|
|
GBP |
|
|
Retail Sales (MoM) |
-0.2% |
|
-0.4% |
|
0.3% |
|
|
|
|
|
GBP |
|
|
Retail Sales (YoY) |
2.7% |
|
2.7% |
|
2.3% |
||
|
|
|
GBP |
|
|
CBI Industrial Trends Orders |
-8 |
|
-15 |
|
-21 |
|
|
|
|
|
USD |
|
|
Initial Jobless Claims |
382K |
|
375K |
|
385K |
||
|
|
|
USD |
|
|
Continuing Jobless Claims |
3272K |
|
3300K |
|
3304K |
||
|
|
|
USD |
|
|
Philadelphia Fed Manufacturing Index |
-1.9 |
|
-4.0 |
|
-7.1 |
Upcoming Economic Events that affect the CHF, EUR, GBP and USD
There are no top tier eco data releases due in Europe or the US on the 21st.
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