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Metals Pack Fundamental Analysis October 7, 2014 Forecast – Silver & Copper

By:
Barry Norman
Updated: Aug 24, 2015, 23:00 UTC

Analysis and Recommendations: Silver recovered 159 points to trade at 16.985 after declines on Friday. Precious metals recovered as European markets

Metals Pack Fundamental Analysis October 7, 2014 Forecast – Silver & Copper
Metals Pack Fundamental Analysis October 7, 2014 Forecast – Silver & Copper
Metals Pack Fundamental Analysis October 7, 2014 Forecast – Silver & Copper

Analysis and Recommendations:

Silver recovered 159 points to trade at 16.985 after declines on Friday. Precious metals recovered as European markets opened. Copper added 21 points to trade at 3.0190. Elsewhere in metals, platinum was down 0.6 per cent at $1,213.00 an ounce, and palladium was down 0.3 per cent at $750.20 an ounce. Copper has been hit by a combination of weaker growth in Europe and China, a buoyant dollar and prospects for a surge of supply.

Copper and aluminium bounced on Friday, a day after touching multi-month lows, but traders said the move may not last as investors remained worried about a strong dollar and weaker demand in top metals consumer China. The metal in London increased as much as 0.5 percent, advancing for a second day. The unemployment rate dropped to 5.9 percent in September, the lowest since July 2008, the U.S. Labor Department said Oct. 3. Employers added 248,000 workers to payrolls last month, more than the 215,000 forecast in a Bloomberg survey.

“The U.S. economic growth seems good at the moment,” said Chae Un Soo, a metals trader at Korea Exchange Bank Futures Co. “It will increase demand for metals.”

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

  EUR

German Factory Orders

-5.7%

-2.5%

4.9%

 

  CAD

Ivey PMI 

 

53.0

50.9

 

 

Silver(60 minutes)20141006114630

Upcoming Economic Events that you should be monitoring:

Currency

 

   

JPY

Monetary Policy Statement

AUD

Cash Rate

AUD

RBA Rate Statement

JPY

BOJ Press Conference

CHF

Foreign Currency Reserves

GBP

Halifax HPI m/m

CHF

CPI m/m

CHF

Retail Sales y/y

GBP

Manufacturing Production m/m

GBP

BOE Credit Conditions Survey

CAD

Building Permits m/m

GBP

NIESR GDP Estimate

USD

JOLTS Job Openings

Government Bond Auction

Date Time Country Auction

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

 

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