Metals Pack Fundamental Analysis October 13, 2014 Forecast – Silver & Copper

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Updated: Aug 25, 2015, 00:00 UTC

Analysis and Recommendations: Silver tumbled 145 points to trade at 17.273 as the dollar recovered while Copper plummeted 34 points to trade at 2.996 as

Metals Pack Fundamental Analysis October 13, 2014 Forecast – Silver & Copper

Analysis and Recommendations:

Silver tumbled 145 points to trade at 17.273 as the dollar recovered while Copper plummeted 34 points to trade at 2.996 as traders continue to worry about the drop in growth and Chinese production. Metal prices in Europe fell on Friday, with the previous session’s gains eroded by the dollar rising on the better-than-expected US initial jobless claims figure. The initial jobless claims number weighed in at 287,750 — its lowest level since February 2006. The drop signifies the increasingly rude health of the US economy, which points towards a strengthening dollar.

Given that copper and silver are a dollar-denominated commodity, it becomes more expensive to buy for other currency holders when the greenback gains. Furthermore, the euro softened as Germany — Europe’s biggest economy — released weaker-than-expected export data.

The IMF downgrade of its world growth rate may be a still absurdly high rate if markets continue to plunge. Germany just released a surprising negative report on industrial production which plunged an unexpected 4%. Italy may be in recession already, and France is a basket case. Then there is Japan whose GDP fell 7% and China whose growth rate is suspect. Here in the US the news has been much better although it was just reported that consumer credit is falling. And concerns about the real estate market are surfacing.

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 recent analysis and information in our weekly reports.

Today’s economic releases actual vs. forecast:

Cur.	Imp.	Event	Actual	Forecast	Previous
JPY		Monetary Minutes
JPY		Tertiary Industry Activity	-0.1%	0.2%	-0.3%
AUD		Home Loans (MoM)	-0.9%	0.1%	0.3%
GBP		Trade Balance (Aug)	-9.10B	-9.60B	-10.41B
GBP		Trade Balance Non-EU	-3.59B	-4.00B	-4.76B
USD		Export Price Index		-0.1%	-0.5%
USD		Import Price Index		-0.7%	-0.9%
CAD		Unemployment Rate		7.0%	7.0%

Upcoming Economic Events that you should be monitoring:

Cur.	Imp.	Event	Actual	Forecast	Previous
	Holiday	Japan – Health-Sports Day
	Holiday	Canada – Thanksgiving Day
NZD		FPI (MoM) (Sep)			0.3%
CNY		Exports (YoY) (Sep)			9.4%
CNY		Imports (YoY) (Sep)			-2.4%
CNY		Trade Balance (Sep)			49.83B