Crude Oil Fundamental Analysis December 5, 2012 Forecast

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Updated: Aug 20, 2015, 23:00 UTC

Analysis and Recommendations: Crude Oil declined 90 cents today to trade at 88.19, as geopolitical tensions ease and market correct after soaring over

Crude Oil Fundamental Analysis December 5, 2012 Forecast

Analysis and Recommendations:

Crude Oil declined 90 cents today to trade at 88.19, as geopolitical tensions ease and market correct after soaring over 89.00 on positive sentiment after Chinese data showed the country was back at expansion. Crude remained supported by global tensions including the US Fiscal Cliff. Although there has been a ceasefire in Israel in the Hamas conflict but it appears very fragile as Israel is said to continue with the new settlements.

Moreover, a new front of trouble in Syria has opened up as the leading spokesperson of the government has been reported to have fled the country and rebels are seen gaining more grounds in a 20 month old uprising among media reports that chemical weapons had been moved near the capital. This has raised concerns about Syria’s intentions prompting Washington to make contingency plans. Till now despite the debate in actual not having started yet differences are seen developing in public announcements and speeches of the leaders as Democrat President Barrack Obama and the leaders of Republican controlled House of Representatives seemed very far apart in there expressed views and plans , As also difference was there in estimates of Geithner who said expected to raise $2.2 trillion by implementation of some new plans while the estimate by Obama was that of raising 1.3trillion dollars

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 4, 2012 actual v. forecast

Date

Currency

Event

Actual

Forecast

Previous

Dec. 04

AUD

Building Approvals (MoM)

-7.6%

-2.0%

9.5%

AUD

Current Account

-14.9B

-14.8B

-12.4B

AUD

Interest Rate Decision

3.00%

3.00%

3.25%

AUD

RBA Rate Statement

EUR

Spanish Unemployment Change

74.30K

90.50K

128.20K

BRL

Brazilian Industrial Production (YoY)

2.3%

2.5%

-3.6%

CAD

Interest Rate Decision

1.00%

1.00%

WEEKLY

This Week in Petroleum
Release Schedule: Wednesday @ 1:00 p.m. EST (schedule)
Gasoline and Diesel Fuel Update
Release Schedule: Monday between 4:00 and 5:00 p.m. EST (schedule)
Weekly Petroleum Status Report
Release Schedule: The wpsrsummary.pdf, overview.pdf, and Tables 1-14 in CSV and XLS formats, are released to the Web site after 10:30 a.m. (Eastern Time) on Wednesday. All other PDF and HTML files are released to the Web site after 1:00 p.m. (Eastern Time) on Wednesday. Appendix D is produced during the winter heating season, which extends from October through March of each year. For some weeks which include holidays, releases are delayed by one day. (schedule)

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%