Crude Oil Fundamental Analysis December 12, 2012, Forecast

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Updated: Aug 21, 2015, 00:00 UTC

Analysis and Recommendations: Crude Oil is trading at 86.65 adding a few pips in a lackluster day of trading. Crude oil turned positive on expectations of

Crude Oil Fundamental Analysis December 12, 2012, Forecast

Analysis and Recommendations:

Crude Oil is trading at 86.65 adding a few pips in a lackluster day of trading. Crude oil turned positive on expectations of fresh stimulus measures from the Federal Reserve to perk up the struggling US economy, and on the eve of a key OPEC output decision, analysts said. OPEC is meeting to set production quota but are expected to hold at current levels, even though they continue to pump way over quota.

The US central bank’s policy-setting Federal Open Market Committee (FOMC) is expected to announce new measures to stimulate the economy at the end of a two-day meeting that starts late Tuesday.

Stubborn high unemployment in the world’s largest economy and oil consumer as well as the looming fiscal cliff, give the FOMC every reason to expand its stimulus efforts. Traders are keeping an eye on what the Fed will do as the end approaches of its “Operation Twist” program, under which it has sold short-term debt to buy longer-term debt. Continued global tensions in Egypt and Syria help support 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 11, 2012 actual v. forecast

Date	Currency	Event	Actual	Forecast	Previous
Dec. 11	GBP	RICS House Price Balance	-9%	-7%	-7%
	AUD	NAB Business Confidence	-9		-1
	EUR	French Non-Farm Payrolls (QoQ)	-0.3%	-0.3%	-0.3%
	INR	Indian Trade Balance	-19.3B	-19.1B	20.9B
	ZAR	South African Retail Sales (YoY)	1.00%	4.00%	4.70%
	HUF	Hungarian CPI (YoY)	5.2%	5.4%	6.0%
	EUR	German ZEW Economic Sentiment	6.9	-12.0	-15.7
	EUR	ZEW Economic Sentiment	7.6	0.1	-2.6
	CAD	Trade Balance	-0.2B	-1.0B	-1.0B
	USD	Trade Balance	-42.2B	-42.6B	-40.3B

WEEKLY

This Week in Petroleum
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Gasoline and Diesel Fuel Update
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Weekly Petroleum Status Report
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Upcoming Economic Events that affect the CHF, EUR, GBP and USD

Date	Time	Currency	Event	Forecast	Previous
Dec. 12	07:00	EUR	German CPI (MoM)	-0.1%	-0.1%
	07:00	EUR	German CPI (YoY)	1.9%	1.9%
	07:45	EUR	French CPI (MoM)		0.1%
	09:30	GBP	Average Earnings Index +Bonus	1.9%	1.8%
	09:30	GBP	Claimant Count Change	7.0K	10.1K
	10:00	EUR	Industrial Production (MoM)	0.2%	-2.5%
	13:30	USD	Import Price Index (MoM)	-0.5%	0.5%
	19:00	USD	Federal Budget Balance	-147.5B	-120.0B
Dec. 13	08:15	CHF	PPI (MoM)	-0.3%	-0.1%
	11:00	GBP	CBI Industrial Trends Orders	-16	-21
Dec. 14	07:58	EUR	French Manufacturing PMI	45.0	44.5
	08:28	EUR	German Manufacturing PMI	47.2	46.8
	10:00	EUR	CPI (YoY)	2.2%	2.2%
	10:00	EUR	Core CPI (YoY)		1.5%