Crude Oil Fundamental Analysis December 14, 2012, Forecasts

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Updated: Aug 21, 2015, 00:00 UTC

Analysis and Recommendations: Crude Oil declined by 50pts today to trade at 86.27 after the US downgraded growth for next year reducing the demand for

Crude Oil Fundamental Analysis December 14, 2012, Forecasts

Analysis and Recommendations:

Crude Oil declined by 50pts today to trade at 86.27 after the US downgraded growth for next year reducing the demand for energy even with the economy recovering. EIA inventory showed that stocks in the US continue to increase. . Rising stockpiles amidst the US fiscal concerns dragged down crude oil prices too. On the NYMEX, prices dropped 0.6 percent and were hovering above $86 a barrel.

Oil prices fell on Thursday on profit-taking, one day after soaring as OPEC held its output ceiling and the Federal Reserve expanded of its bond-buying stimulus program.

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 13, 2012 actual v. forecast

Date

Currency

Event

Actual

Forecast

Previous

Dec. 13

KRW

South Korean Interest Rate Decision

2.75%

2.75%

CHF

PPI (MoM)

0.0%

-0.3%

-0.1%

CHF

Interest Rate Decision

0.00%

0.00%

GBP

CBI Industrial Trends Orders

-12

-16

-21

USD

Core PPI (MoM)

0.1%

0.2%

-0.2%

USD

Core Retail Sales (MoM)

0.0%

-0.1%

0.0%

USD

PPI (MoM)

-0.8%

-0.5%

-0.2%

USD

Retail Sales (MoM)

0.3%

0.5%

-0.3%

USD

Initial Jobless Claims

343K

370K

372K

USD

Continuing Jobless Claims

3198K

3210K

3221K

USD

PPI (YoY)

1.5%

1.8%

2.3%

USD

Core PPI (YoY)

2.2%

2.2%

2.1%

WEEKLY

This Week in Petroleum
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Upcoming Economic Events that affect the CHF, EUR, GBP and USD

Date	Time	Currency	Event	Forecast	Previous
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%