Metals Pack Fundamental Analysis October 14, 2014 Forecast – Silver & Copper

By:

Updated: Aug 25, 2015, 00:00 UTC

Analysis and Recommendations: Silver gained 159 points after a positive release of Chinese trade balance in the early morning which saw imports and

Metals Pack Fundamental Analysis October 14, 2014 Forecast – Silver & Copper

Analysis and Recommendations:

Silver gained 159 points after a positive release of Chinese trade balance in the early morning which saw imports and exports grow. Copper added 10 points climbing from its rut to trade at 3.045. Silver has been steadily losing ground since its all-time high in April 2011, but what happened last month is particularly interesting: a very strong support line at 18.780 that was a clear bottom for the commodity for more than a year was broken.

Copper rose in London, pacing gains by industrial metals, after trade figures from leading onsumer China exceeded estimates.

Exports climbed 15 percent from a year earlier last month, Chinese customs figures showed, beating the 12 percent median estimate in a Bloomberg News survey of economists. Imports, projected to drop, gained 7 percent. Prices also advanced after Premier Li Keqiang held to a forecast for Chinese economic growth this year in line with the official 7.5 percent target.

“Better-than-expected Chinese data may provide some respite in the short term,” William Adams, head of research at Fastmarkets.com in London, said in a note today. Nickel slumped for a fifth week last week.

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.		Event	Actual	Forecast	Previous
	Holiday	Japan – Health-Sports Day
	Holiday	Canada – Thanksgiving Day
CNY		Exports (YoY) (Sep)	15.3%	11.8%	9.4%
CNY		Imports (YoY) (Sep)	7.0%	-2.7%	-2.4%
CNY		Trade Balance (Sep)	31.00B	41.00B	49.83B

Upcoming Economic Events that you should be monitoring:

Cur.	Event	Actual	Forecast	Previous
AUD	RBA Asst Gov. Debelle
CNY	New Loans		750B	703B
EUR	French CPI		-0.3%	0.4%
EUR	French HICP		-0.3%	0.5%
EUR	Spanish CPI		0.2%	0.2%
GBP	CPI (MoM) (Sep)		0.2%	0.4%
GBP	CPI (YoY) (Sep)		1.4%	1.5%
GBP	PPI Input (MoM) (Sep)		-0.4%	-0.6%
EUR	Italian CPI (MoM) (Sep)		-0.3%	-0.3%
EUR	Industrial Production		-1.6%	1.0%