Crude Oil Fundamental Analysis July 9, 2012, Forecast

Analysis and Recommendations:

Crude Oil has dropped over 2.50 so far today, trading at 84.85 on the back of a stronger US dollar and the weekly inventory numbers which showed a drop in inventory, which was mostly a drop in production and imports and not in use. The geopolitical noise from Iran has toned down and also ongoing worries about China’s slowdown.

Christine Lagarde of the IMF said that the IMF’s forecast of 3.5%growth for global GDP in 2012 will be trimmed back. She said “It is not an enormous variation, but it will be negative.” Equity markets have already done much to trim back their own growth expectations. While most major equity indices are positive for the year, almost all have posted negative returns over the past 3 months.

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 Reports for July 6, 2012 actual v. forecast

 

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

Government Bond Auctions

Date  Time  Country 

Jul 09  15:30  Italy

Jul 10  00:30  Japan

Jul 10  08:30  Holland

Jul 10  09:10  Greece 

Jul 10  09:30  UK

Jul 10  14:30  UK

Jul 10  15:30  Italy

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Jul 11  09:30  Germany

Jul 11  09:30  Swiss

Jul 11  17:00  US

Jul 12  09:10  Italy

Jul 12  09:30  UK

Jul 12  15:00  US

Jul 12  17:00  US

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Jul 13  10:00  Belgium