Metals Pack Fundamental Analysis October 17, 2014 Forecast – Silver & Copper

By:

Updated: Aug 25, 2015, 01:00 UTC

Analysis and Recommendations: Silver continued its drastic moves falling 197 points to trade at 17.27 as trades seem determined to send the metal below

Metals Pack Fundamental Analysis October 17, 2014 Forecast – Silver & Copper

Analysis and Recommendations:

Silver continued its drastic moves falling 197 points to trade at 17.27 as trades seem determined to send the metal below the 17.00 level. Copper fell 43 points to trade just at 2.966 its lowest in months. Futures trading volume was 45 percent above the average for the past 100 days for this time of day, according to data compiled by Bloomberg. Palladium slid 1.9 percent to $752.75 an ounce in London, and reached $750.50, the lowest since Oct. 6.

While holdings in platinum-backed exchange-traded products have fallen 5.6 percent since setting a record in July, the 83.9 metric tons now held is up 7.7 percent this year, data compiled by Bloomberg show. Palladium assets rose 36 percent in 2014 as silver ETPs added 2.6 percent and gold assets fell 5.6 percent.

Platinum is mostly used in catalytic converters and jewelry and has slipped 8.8 percent since the start of January, even as a South African mine strike earlier this year deepened a third successive supply shortage. While an improving U.S. economy had boosted the case for less U.S. stimulus and curbed the appeal of precious metals, gold reached an almost five-week high yesterday as investors sought a haven and after the Federal Reserve said a worldwide economic slowdown may delay interest-rate increases.

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
CNY	New Loans	857.2B	750.0B	702.5B
EUR	Core CPI (YoY) (Sep)	0.8%	0.7%	0.9%
EUR	CPI (MoM) (Sep)	0.4%	0.4%	0.1%
EUR	CPI (YoY) (Sep)	0.3%	0.3%	0.3%
USD	Initial Jobless Claims	264K	290K	287K
CAD	Foreign Securities	10.28B	4.31B	5.20B
CAD	Manufacturing Sales	-3.3%	-2.0%	2.9%
USD	Industrial Production		0.4%	-0.1%
USD	Philadelphia Fed Index		20.0	22.5

Upcoming Economic Events that you should be monitoring:

Cur.	Imp.	Event	Actual	Forecast	Previous
USD		Building Permits (Sep)		1.029M	1.003M
USD		Building Permits (MoM)		2.8%	-5.6%
USD		Fed Chair Yellen Speaks
USD		Housing Starts (MoM)		4.8%	-14.4%
USD		Housing Starts (Sep)		1.004M	0.956M
CAD		Core CPI (MoM) (Sep)		0.1%	0.5%
CAD		Core CPI (YoY) (Sep)		2.0%	2.1%
CAD		CPI (MoM) (Sep)		0.0%	0.0%
USD		Michigan Consumer		74.4	75.4
USD		Michigan Consumer		84.1	84.6