Crude Oil Fundamental Analysis December 4, 2012, Forecast

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Updated: Aug 20, 2015, 23:00 UTC

Analysis and Recommendations: Crude Oil climbed to trade at 89.95 adding 1.04 today after positive Chinese data in the morning and strong PMI in the UK

Crude Oil Fundamental Analysis December 4, 2012, Forecast

Analysis and Recommendations:

Crude Oil climbed to trade at 89.95 adding 1.04 today after positive Chinese data in the morning and strong PMI in the UK and a better than expected, but at forecast number for the eurozone, but the kicker today was a strong ISM Manufacturing release in the US, with the index reporting well above forecast.

Crude oil reversed its initial advances and moved to a negative territory. In NYMEX, crude oil rose to $89.27 a barrel before taking a dip. However, Chinese data and tensions in the Middle East are likely to provide firm support to prices. Strong data from the US saw crude change pace a second time today and shake of losses to climb to a new intraday high.

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 3, 2012 actual v. forecast

Date

Currency

Event

Actual

Forecast

Previous

Dec. 03

AUD

Company Gross Operating Profits (QoQ)

-2.9%

-2.5%

-0.3%

AUD

Retail Sales (MoM)

0.0%

0.4%

0.5%

CNY

Chinese HSBC Manufacturing PMI

50.50

50.40

JPY

BoJ Governor Shirakawa Speaks

TRY

Turkish CPI (MoM)

0.38%

0.91%

1.96%

CHF

Retail Sales (YoY)

2.7%

4.1%

5.4%

CHF

SVME PMI

48.5

47.0

46.1

EUR

Italian Manufacturing PMI

45.10

45.90

45.50

EUR

French Manufacturing PMI

44.5

44.7

EUR

German Manufacturing PMI

46.8

46.8

EUR

Manufacturing PMI

46.2

46.2

GBP

Manufacturing PMI

49.1

48.1

47.3

USD

ISM Manufacturing Index

52.80

51.3

51.7

WEEKLY

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

Date	Time	Currency	Event	Forecast	Previous
Dec. 05	10:00	EUR	Retail Sales (MoM)	-0.1%	-0.2%
	13:15	USD	ADP Nonfarm Employment Change	125K	158K
	13:30	USD	Nonfarm Productivity (QoQ)	2.7%	1.9%
	13:30	USD	Unit Labor Costs (QoQ)	-0.9%	-0.1%
	15:00	USD	ISM Non-Manufacturing Index	53.5	54.2
Dec. 06	08:15	CHF	CPI (MoM)		0.1%
	09:30	GBP	Trade Balance	-8.8B	-8.4B
	10:00	EUR	GDP (QoQ)	-0.1%	-0.1%
	11:00	EUR	German Factory Orders (MoM)	0.9%	-3.3%
	12:00	GBP	Interest Rate Decision	0.50%	0.50%
	12:00	GBP	BOE QE Total	375B	375B
	12:45	EUR	Interest Rate Decision	0.75%	0.75%
Dec. 07	09:30	GBP	Industrial Production (MoM)	0.7%	-1.7%
	09:30	GBP	Manufacturing Production (MoM)	-0.2%	0.1%
	09:30	GBP	Industrial Production (YoY)	-0.6%	-2.6%
	11:00	EUR	German Industrial Production (MoM)	-0.5%	-1.8%