Analysis and Recommendations: Crude Oil continues to decline, as growth estimates from around the globe are being revised downward. Today the ECB revised
Analysis and Recommendations:
Crude Oil continues to decline, as growth estimates from around the globe are being revised downward. Today the ECB revised the growth estimates for the eurozone downward for the balance of the year and for 2013. Geopolitical tension in the Middle East continues to support prices with Syria and Turkey’s border dispute escalating, while recent developments in the region, news reports said violence escalated in Egypt after clashes between opponents and supporters of President Mohammed Morsi resulted in several deaths. Additionally, Israel reportedly moved ahead with plans to build settler homes in the West Bank, prompting the European Union to summon the Israeli ambassador.
This week’s inventory showed a higher than expected drop in stocks, but this had very little market reaction.
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 6, 2012 actual v. forecast
Date |
|
Currency |
|
|
Event |
Actual |
|
Forecast |
|
Previous |
|
|
Dec. 06 |
|
AUD |
|
|
Employment Change |
13.9K |
|
0.2K |
|
10.1K |
||
|
|
AUD |
|
|
Unemployment Rate |
5.2% |
|
5.5% |
|
5.4% |
|
|
|
|
CHF |
|
|
Unemployment Rate |
3.0% |
|
3.0% |
|
3.0% |
|
|
|
|
GBP |
|
|
Halifax House Price Index (MoM) |
1.0% |
|
0.2% |
|
-0.1% |
||
|
|
CHF |
|
|
CPI (MoM) |
-0.3% |
|
0.0% |
|
0.1% |
|
|
|
|
GBP |
|
|
Trade Balance |
-9.5B |
|
-8.8B |
|
-8.4B |
||
|
|
EUR |
|
|
GDP (QoQ) |
-0.1% |
|
-0.1% |
|
-0.1% |
|
|
|
|
EUR |
|
|
German Factory Orders (MoM) |
3.9% |
|
0.9% |
|
-2.4% |
||
|
|
GBP |
|
|
Interest Rate Decision |
0.50% |
|
0.50% |
|
0.50% |
|
|
|
|
GBP |
|
|
BOE QE Total |
375B |
|
375B |
|
375B |
|
|
|
|
EUR |
|
|
Interest Rate Decision |
0.75% |
|
0.75% |
|
0.75% |
|
|
|
|
CAD |
|
|
Building Permits (MoM) |
15.0% |
|
3.0% |
|
-12.7% |
||
|
|
USD |
|
|
Initial Jobless Claims |
370K |
|
380K |
|
395K |
||
|
|
EUR |
|
|
ECB Press Conference |
|
|
|
|
|
|
|
|
|
USD |
|
|
Continuing Jobless Claims |
3205K |
|
3275K |
|
3305K |
WEEKLY
Upcoming Economic Events that affect the CHF, EUR, GBP and USD
Date |
Time |
Currency |
Event |
Forecast |
Previous |
Dec. 07 |
09:30 |
GBP |
0.7% |
-1.7% |
|
|
09:30 |
GBP |
-0.2% |
0.1% |
|
|
09:30 |
GBP |
-0.6% |
-2.6% |
|
|
11:00 |
EUR |
-0.5% |
-1.8% |
|
|
13:30 |
USD |
0.2% |
0.0% |
|
|
13:30 |
USD |
90K |
171K |
|
|
13:30 |
USD |
34.4 |
34.4 |
|
|
13:30 |
USD |
90K |
184K |
|
|
14:55 |
USD |
82.1 |
82.7 |
|
|
15:00 |
GBP |
0.5% |
Government Bond Auction
Date Time Country
Dec 07 16:30 Italy
Dec 10 10:10 Norway
Dec 10 10:10 Slovakia
Dec 10 15:30 UK
Dec 10 16:30 Italy
Dec 11 09:30 Spain
Dec 11 10:10 Greece
Dec 11 10:15 Austria
Dec 11 10:30 Belgium
Dec 11 10:30 UK
Dec 11 18:00 US
Dec 12 10:10 Italy
Dec 12 10:10 Sweden
Dec 12 10:30 Swiss
Dec 12 16:30 US
Dec 13 01:30 Japan
Dec 13 09:30 Spain
Dec 13 10:10 Italy
Dec 13 10:30 UK
Dec 13 16:00 US
Dec 13 18:00 US
Dec 14 11:00 Belgium
Dec 14 15:30 UK