Metals Pack Fundamental Analysis October 28, 2014 Forecast – Silver & Copper

By:

Updated: Aug 25, 2015, 03:00 UTC

Analysis and Recommendations: Silver gained 6 points in lackluster trading remaining well within its weekly range at 17.188 near a recent bottom, while

Metals Pack Fundamental Analysis October 28, 2014 Forecast – Silver & Copper

Analysis and Recommendations:

Silver gained 6 points in lackluster trading remaining well within its weekly range at 17.188 near a recent bottom, while base metal Copper edged up to 3.044. The lower dollar helped copper gain a few points but it is being weighed down by comments from the Chinese government which is now predicting a lower annual GDP. China’s economic growth will slow to 7.2 percent in the current quarter, down from the previous three months, as domestic demand weakens as reported by the People’s Bank of China monetary policy advisory committee.

The nation’s economy will probably expand 7.3 percent next year, Song said at a forum in Beijing on Oct. 25. A decrease in exports and property development, two “engines” that fueled China’s rise to become the world’s second-largest economy, will be the main cause of a slowing of growth.

The average price of new homes in 70 Chinese cities fell year over year in September for the first time in nearly two years, as property developers continue to cut prices to lure home buyers. The drop is yet another signal of a flagging property market, which poses one of the biggest risks to China’s slowing economy. The average price of new homes declined 1.1 per cent in September compared with a 0.5 per cent gain in August. The reading marks the first drop since December 2012 when prices fell 0.1 per cent.

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
	USD		Pending Home Sales		0.5%	-1.0%

Upcoming Economic Events that you should be monitoring:

Cur.	Event	Actual	Forecast	Previous
JPY	Retail Sales (YoY) (Sep)		0.6%	1.2%
USD	Core Durable Goods		0.5%	0.4%
USD	Durable Goods Orders		0.6%	-18.4%
USD	S&P/CS HPI Composite		5.8%	6.7%
USD	Consumer Confidence		87.0	86.0