Crude Oil Fundamental Analysis December 11, 2012, Forecast

Analysis and Recommendations:

Crude Oil climbed today to trade at 86.36 adding 43cents on strong industrial production data from China and a surge in retail sales. After last week’s downward revisions to GDP in the eurozone, Germany and the UK, crude had tumbled to a recent low breaking below 86.00. With geopolitical tension remaining high in Egypt, and Syria remaining in the spot light prices remain supported.

The price of oil rose earlier today, boosted by expanding exports in Germany and higher growth in electricity consumption and industrial production in China.

Exports from Germany, Europe’s biggest economy, rose by 0.3 percent in October after falling by 2.4 percent in September and were 10.6 percent higher than in October 2012. Analysts had been expecting German exports to continue their slide and the positive figures lifted expectations that oil demand could improve.

Italian Prime Minister Mario Monti’s weekend announcement that he would resign by the end of the year sent stock markets lower across Europe and pointed to a lower open in the United States, but did not seem to deter oil prices.

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 December 9, 2012 actual v. forecast

Economic Data December 10, 2012 actual v. forecast

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

Government Bond Auction

Date Time Country 

Dec 11 09:30 Spain 

Dec 11 10:10 Greece 

Dec 11 10:15 Austria 

Dec 11 10:30 Belgium 

Dec 11 10:30 UK 

Dec 11 18:00 US 

Dec 12 10:10 Italy  

Dec 12 10:10 Sweden 

Dec 12 10:30 Swiss 

Dec 12 16:30 US 

Dec 13 01:30 Japan 

Dec 13 09:30 Spain 

Dec 13 10:10 Italy  

Dec 13 10:30 UK 

Dec 13 16:00 US 

Dec 13 18:00 US 

Dec 14 11:00 Belgium 

Dec 14 15:30 UK