Analysis and Recommendations: Crude Oil gained close to one dollar today on positive news from the White House as Obama reached more compromises with
Analysis and Recommendations:
Crude Oil gained close to one dollar today on positive news from the White House as Obama reached more compromises with Republican Leaders. Crude is trading at 88.62. Crude oil prices rebounded on today amid hopes about the US budget details after the meeting between US President Obama and House Speaker John Boehner provided some optimistic signs about the US economy, showing potential for a rebound in the US oil demand. There was little else happening in the markets today. The US dollar weakened after investors relaxed on the news from Washington and went looking for more risk ahead of the new year.
A report said coal was set to surpass oil as the world’s top fuel within a decade, driven by growth in emerging market giants China and India, with even Europe finding it hard to cut use despite pollution concerns.
“Thanks to abundant supplies and insatiable demand for power from emerging markets, coal met nearly half of the rise in global energy demand during the first decade of the 21st century,” said Maria van der Hoeven, head of the International Energy Agency.
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 18, 2012 actual v. forecast
Date |
|
Currency |
|
|
Event |
Actual |
|
Forecast |
|
Previous |
|
|
Dec. 18 |
|
AUD |
|
|
Monetary Policy Meeting Minutes |
|
|
|
|
|
|
|
|
|
INR |
|
|
Indian Interest Rate Decision |
8.00% |
|
8.00% |
|
8.00% |
|
|
|
|
SEK |
|
|
Swedish Interest Rate Decision |
1.00% |
|
1.00% |
|
1.25% |
|
|
|
|
GBP |
|
|
Core CPI (YoY) |
2.6% |
|
2.7% |
|
2.6% |
|
|
|
|
GBP |
|
|
CPI (YoY) |
2.7% |
|
2.6% |
|
2.7% |
|
|
|
|
GBP |
|
|
PPI Input (MoM) |
0.1% |
|
-0.1% |
|
0.1% |
||
|
|
GBP |
|
|
CPI (MoM) |
0.2% |
|
0.2% |
|
0.5% |
|
|
|
|
GBP |
|
|
PPI Input (YoY) |
-0.3% |
|
-0.5% |
|
0.1% |
WEEKLY
Upcoming Economic Events that affect the CHF, EUR, GBP and USD
Date |
Time |
Currency |
Event |
Forecast |
Previous |
Dec. 19 |
09:00 |
EUR |
102.0 |
101.4 |
|
|
09:00 |
EUR |
108.0 |
108.1 |
|
|
09:00 |
EUR |
96.3 |
95.2 |
|
|
11:00 |
GBP |
25 |
33 |
|
|
13:30 |
USD |
0.875M |
0.868M |
|
|
13:30 |
USD |
0.870M |
0.894M |
|
Dec. 20 |
09:30 |
GBP |
0.3% |
-0.8% |
|
|
09:30 |
GBP |
1.5% |
0.6% |
|
Dec. 21 |
07:00 |
EUR |
5.9 |
5.9 |
|
|
09:30 |
GBP |
-14.0B |
-20.8B |
|
|
09:30 |
GBP |
1.0% |
1.0% |
|
|
09:30 |
GBP |
-0.1% |
-0.1% |
Government Bond Auction
Date Time Country
Dec 19 18:00 US
Dec 20 10:30 UK
Dec 20 16:30 Italy
Dec 20 18:00 US
Dec 21 16:30 Italy