Metals Pack Fundamental Analysis October 20, 2014 Forecast – Silver & Copper

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Updated: Aug 25, 2015, 01:00 UTC

Analysis and Recommendations: Silver eased father today with little economic data to support metals. Silver fell to trade at 17.373 down 64 points while

Metals Pack Fundamental Analysis October 20, 2014 Forecast – Silver & Copper

Analysis and Recommendations:

Silver eased father today with little economic data to support metals. Silver fell to trade at 17.373 down 64 points while Copper fell 7 points to 2.974 close to its low for 2014. LME Copper prices are trading lower by 0.1 percent as concerns over global growth overweighed signs of strength in the U.S. economy. Also, gain in LME stocks acted as a negative factor.

Among other precious metals, platinum and palladium rebounded from heavy losses on Thursday. Both metals have slid due to concerns about global growth and weak equity markets, HSBC said in a note. But the lower prices could also lead physical buyers to look for bargains.

Nickel climbed for the first time in four days, paring a sixth weekly decline, as some investors deemed this week’s drop to a seven-month low as excessive amid signs of an improving U.S. economy. The metal in London rose as much as 1.2 percent after closing yesterday at the lowest since March 10. Global usage of the metal, used to make stainless steel, will exceed output by 20,000 metric tons in 2015, the International Nickel Study Group estimates.

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:

There are no data releases scheduled Friday in Asian or European markets, focus will be on Janet Yellen’s speech later today

Cur.	Event	Actual	Forecast	Previous
USD	Building Permits (Sep)		1.029M	1.003M
USD	Building Permits (MoM)		2.8%	-5.1%
USD	Fed Chair Yellen Speaks
USD	Housing Starts (MoM)		4.8%	-14.4%
USD	Housing Starts (Sep)		1.004M	0.956