Silver Fundamental AnalysisJune 18, 2012, Forecast

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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% 

 

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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