Advertisement
Advertisement

Metals Pack Fundamental Analysis October 3, 2014 Forecast – Silver & Copper

By:
Barry Norman
Updated: Aug 24, 2015, 22:00 UTC

Analysis and Recommendations: Silver gave up 66 points to trade at 17.193 after climbing in the Asian session as traders bought up the cheap commodity.

Metals Pack Fundamental Analysis October 3, 2014 Forecast – Silver & Copper

Silver thursday bns
Analysis and Recommendations:

Silver gave up 66 points to trade at 17.193 after climbing in the Asian session as traders bought up the cheap commodity. Copper eased by 2 point to trade at 3.034 as metals were not of particular interest in today’s session. Investors were also eyeing the outcome of a policy meeting Thursday by the European Central Bank, which is expected to present details of a new asset-buying plan that it hopes will revive the flagging euro zone economy and see off the specter of deflation.

Copper extended gains, rebounding from a three-month low before a report projected to show nonfarm payrolls accelerated in the U.S., the second-biggest consumer. The metal rose as much as 0.4 percent in London after touching the lowest since June 13 yesterday. Nonfarm payrolls grew by 215,000 workers in September, up from an increase of 142,000 in August, according to a survey before data tomorrow. Other figures showed yesterday companies added more than 200,000 workers for a sixth straight month in September. China is closed until Oct. 7 for National Day holidays.

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

 

Building Approvals

3.0%

1.0%

2.1%

 

 

  AUD

 

Trade Balance

-0.787B

-0.700B

-1.075B

 

 

  EUR

 

Spanish Unemployment

19.7K

31.3K

8.1K

 

 

  GBP

 

Construction PMI (Sep)

64.2

63.5

64.0

 

 

  EUR

 

Interest Rate Decision 

 

0.05%

0.05%

 

 

  USD

 

Initial Jobless Claims

 

297K

293K

 

 

  EUR

 

ECB Press Conference  

 

 

 

 

 

  USD

 

Factory Orders (MoM)

 

-9.3%

10.5%

 

Silver(15 minutes)20141002114910

Copper(15 minutes)20141002114921
Upcoming Economic Events that you should be monitoring:

 

Cur.

 

Event

Actual

Forecast

Previous

 

  GBP

 

Services PMI (Sep)

 

59.1

60.5

 

 

  USD

 

Nonfarm Payrolls (Sep)

 

215K

142K

 

 

  USD

 

Unemployment Rate

 

6.1%

6.1%

 

 

  USD

 

ISM Non-Mfg. PMI

 

58.5

59.6

 

Government Bond Auction

Date Time Country Auction

Oct 02 08:30 Spain Auctions 1.4% Jan 2020 & 2.75% Oct 2024 Obligations

Oct 02 08:50 France Eur 7-8bn 1.75% May 2023, 1.75% Nov 2024 & 2.75% Oct 2027

Oct 02 15:00 US Announces details of 3/10Y Note & 30Y bond auctions on Oct

Oct 07 06:00 Swiss Announces details of optional bond auction on Oct 08

Oct 07 09:00 Norway Bond auction

Oct 07 09:15 Austria RAGB auction

Oct 07 9:30 UK Auctions 3.5% 2045 Gilt

Oct 07 15:30 Italy Announces details of BOT auction on Oct 10

Oct 07 17:00 US 3Y Note auction

Oct 08 09:30 Germany Eur 4.0bn Oct 2019 Bobl auction

Oct 08 09:30 Swiss Bond auction (for decision)

Oct 08 15:30 Italy Announces details of BTP

Oct 08 17:00 US 10Y Note auction

Oct 09 09:03 Sweden I/L bond auction

Oct 09 17:00 US 30Y bond auction

Oct 10 09:10 Italy BOT auction

 

About the Author

Did you find this article useful?

Advertisement