Silver Fundamental AnalysisJune 18, 2012, Forecast

Posted June 15, 2012 15:28 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
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Analysis and Recommendations:

Silver moved up over 1% today, by passing gold’s percentage of increase to trade at 28.695. Silver is a secondary safe haven but also its current price is depressed as it remains under 30.00 and with the DX falling close to 82. It is a perfect situation to purchase silver.

Investors may be very re-actionary today ahead of the Greece election and reports today may show the awful state of US industrial production and lowered confidence which may lead silver to a down side in evening. On the other hand, US treasuries inflows might rise and that is supportive for dollar.

Notice the chart below, comparing today’s movement of gold and silver.

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 June 15, 2012 actual v. forecast

Date

Currency

Event

Actual

Forecast

Previous

Jun. 15

JPY

Interest Rate Decision

0.10%

0.10%

GBP

Trade Balance

-10.1B

-8.5B

-8.7B

EUR

Employment Change (QoQ)

-0.2%

-0.2%

-0.3%

CAD

Manufacturing Sales (MoM)

-0.80%

1.00%

1.90%

USD

NY Empire State Manufacturing Index

2.3

13.0

17.1

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

Date	Time	Currency	Event	Forecast	Previous
Jun 18	18th-22nd	GBP	Nationwide Consumer Confidence	45	44
	Day 1	ALL	G20 Meetings
Jun 19	8:30	GBP	CPI y/y		3.0%
	9:00	EUR	ZEW Economic Sentiment		-2.4
	12:30	USD	Building Permits		0.72M
	12:30	USD	Housing Starts		0.72M
	Day 2	ALL	G20 Meetings
Jun 20	6:00	EUR	German PPI m/m		0.2%
	8:30	GBP	Claimant Count Change		-13.7K
	8:30	GBP	MPC Meeting Minutes	0-0-9	0-0-9
	8:30	GBP	Unemployment Rate		8.2%
	9:00	CHF	ZEW Economic Expectations		-4.0
	14:30	USD	Crude Oil Inventories		-0.2M
	16:30	USD	FOMC Statement
	16:30	USD	Federal Funds Rate	<0.25%	<0.25%
	18:00	USD	FOMC Economic Projections
	18:15	USD	FOMC Press Conference
Jun 21	6:00	CHF	Trade Balance		1.33B
	7:00	EUR	French Flash Manufacturing PMI		44.7
	7:00	EUR	French Flash Services PMI		45.1
	7:15	CHF	Industrial Production q/q		7.9%
	7:30	EUR	German Flash Manufacturing PMI		45.2
	7:30	EUR	German Flash Services PMI		51.8
	8:00	EUR	Current Account		9.1B
	8:00	EUR	Flash Manufacturing PMI		45.1
	8:00	EUR	Flash Services PMI		46.7
	8:30	GBP	Retail Sales m/m		-2.3%
	10:00	GBP	CBI Industrial Order Expectations		-17
	12:30	USD	Unemployment Claims		386K
	13:00	USD	Flash Manufacturing PMI		54.0
	14:00	USD	Existing Home Sales		4.62M
	14:00	USD	Philly Fed Manufacturing Index		-5.8
Jun 22	8:00	EUR	German Ifo Business Climate		106.9
	All Day	EUR	ECOFIN Meetings
	13:00	EUR	Belgium NBB Business Climate		-11.2

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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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