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