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Metals Pack Fundamental Analysis October 16, 2014 Forecast – Silver & Copper

By:
Barry Norman
Updated: Aug 25, 2015, 01:00 UTC

Analysis and Recommendations: Silver continued its decline after lackluster data around the world lessened demand on industrial metals. Copper eased by 26

Metals Pack Fundamental Analysis October 16, 2014 Forecast – Silver & Copper
Metals Pack Fundamental Analysis October 16, 2014 Forecast – Silver & Copper
Metals Pack Fundamental Analysis October 16, 2014 Forecast – Silver & Copper

Analysis and Recommendations:

Silver continued its decline after lackluster data around the world lessened demand on industrial metals. Copper eased by 26 pips to trade at 3.064 after the decline in Chinese inflation and Japanese industrial production missed expectations. Copper lost as much as 0.5 percent after closing at a three-week high yesterday and zinc fell as much as 0.9 percent. The consumer-price index rose 1.6 percent in September, below estimates for a 1.7 percent gain, after August’s 2 percent increase, the National Bureau of Statistics said today. A measure of producer prices, which hasn’t shown an increase since January 2012, dropped more than forecast. The Chinese data follow euro-area factory output that missed analyst estimates. The metal was sold after the Chinese CPI data for September indicated moderation in the price pressures. The Chinese CPI rose 1.6% in September, below estimates of a 1.7% gain. Moreover, the markets read the lower inflation number as an indication of a weakening demand from the World’s largest consumer of Copper. 

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

 

  AUD

 

Consumer Sentiment

0.9%

 

-4.6%

 

 

  CNY

 

CPI (MoM) (Sep)

0.5%

0.4%

0.2%

 

 

  CNY

 

CPI (YoY) (Sep)

1.6%

1.7%

2.0%

 

 

  CNY

 

PPI (YoY) (Sep)

-1.8%

-1.6%

-1.2%

 

 

  JPY

 

Industrial Production

-1.9%

-1.5%

-1.5%

 

 

  EUR

 

German CPI (MoM)

0.0%

0.0%

0.0%

 

 

  EUR

 

ECB President Draghi 

 

 

 

 

 

  GBP

 

Average Earnings Index 

0.7%

0.7%

0.6%

 

 

  GBP

 

Claimant Count

-18.6K

-35.0K

-33.2K

 

 

  GBP

 

Unemployment Rate

6.0%

6.1%

6.2%

 

 

  USD

 

Core PPI (MoM) (Sep)

 

0.1%

0.1%

 

 

  USD

 

Core Retail Sales

 

0.3%

0.3%

 

 

  USD

 

NY Empire State

 

20.50

27.54

 

 

  USD

 

PPI (MoM) (Sep)

 

0.1%

0.0%

 

 

  USD

 

Retail Sales (MoM)

 

-0.1%

0.6%

 

 

  USD

 

Business Inventories

 

0.4%

0.4%

 

 

  USD

 

Federal Budget

 

80.9B

-129.0B

 

 

  USD

 

Beige Book

 

 

 

 

 

  EUR

 

ECB President Draghi

       

 

Silver(15 minutes)20141015122225

Upcoming Economic Events that you should be monitoring:

 

Cur.

 

Event

Actual

Forecast

Previous

 

  NZD

 

Business NZ PMI (Sep)

 

 

56.5

 

 

  EUR

 

Core CPI (YoY) (Sep)

 

0.7%

0.7%

 

 

  EUR

 

CPI (MoM) (Sep)

 

0.4%

0.1%

 

 

  EUR

 

CPI (YoY) (Sep)

 

0.3%

0.3%

 

 

  USD

 

Initial Jobless Claims

 

290K

287K

 

 

  CAD

 

Manufacturing Sales

 

-1.6%

2.5%

 

 

  USD

 

Industrial Production

 

0.4%

-0.1%

 

 

  USD

 

Phil Fed Manufacturing 

 

20.0

22.5

 

Government Bond Auction

Date Time Country Auction

Oct 14 08:30 Spain 6 & 12M T-bill auction

Oct 14 09:30 Belgium 3 & 12M T-bill auction (Jan & Oct 2015)

Oct 15 09:03 Sweden Bond auction

Oct 15 09:30 Germany Eur 4.0bn Sep 2016 Schatz auction

Oct 16 08:30 Spain Bono/Obligacion auction

Oct 16 09:30 UK Auctions 0.125% 2024 I/L Gilt

Oct 16 15:00 US Announces details of 30Y TIPS auction on Oct 23

 

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