Metals Pack Fundamental Analysis October 27, 2014 Forecast – Silver & Copper

Analysis and Recommendations:

Silver gained 50 points to trade at 17.208 as traders bought up the cheap product. Copper gained 5 points to reach 3.045. Strong global economic data calmed investor nerves after a recent sell-off, prompting many to pull out of assets perceived as safe, such as precious metals.

The next main market focus is the Fed’s meeting on Tuesday and Wednesday. The consensus view is that the US central bank will decide to wrap up its asset purchases under its third round of QE. Clues are awaited on the timing for its first interest rate increase.

Bets had been rising that the Fed would raise rates in mid-2015, but concerns about the global economic recovery increased speculation about a possible delay.

Spanish smelter Atlantic Copper aims for record production this year and expects increased capacity at copper smelters globally to absorb the output from mines and keep the concentrates market in balance through 2017. Copper prices rose thanks to improved sentiment as well as decreased inventories.

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:

 

Upcoming Economic Events that you should be monitoring:

Government Bond Auction

Date Time Country Auction

Oct 27 12:30 Germany Eur 2.0bn new 12M Bubill (Oct 2015) auction

Oct 27 18:30 Italy Announces details of BTP/CCTeu auctions on Oct 30

Oct 27 12:10 Italy BTPei/CTZ auctions

Oct 28 12:10 Italy BOT auction

Oct 28 19:00 US 2Y Note auction

Oct 29 12:03 Sweden Bond auction

Oct 29 12:30 Germany Eur 4.0bn Aug 2024 Bund auction

Oct 29 17:30 US 2Y FRN auction

Oct 29 19:00 US 5Y Note auction

Oct 30 12:10 Italy BTP/CCTeu auctions

Oct 30 19:00 US 7Y Note auction