Metals Pack Fundamental Analysis October 8, 2014 Forecast – Silver & Copper

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Updated: Aug 24, 2015, 23:00 UTC

Analysis and Recommendations: Silver gained 248 points outperforming the commodities market today. Silver is trading at 17.473 while Copper eased by 5

Metals Pack Fundamental Analysis October 8, 2014 Forecast – Silver & Copper

Analysis and Recommendations:

Silver gained 248 points outperforming the commodities market today. Silver is trading at 17.473 while Copper eased by 5 points offsetting early morning gains. China has been shuttered for the week long holiday and traders will return to the markets on Wednesday and we might see a jump in prices at that time. There has been little significant data to support metals this week. The dollar index has gained for the past 12 consecutive weeks and hit a more than four-year high on Friday after a strong U.S. jobs report. More robust economic data could boost the dollar and reiterate expectations that the Federal Reserve would raise U.S. interest rates in mid-2015, a move that would hurt non-interest-bearing assets such as gold.

The South African Department of Co-operative Governance and Traditional Affairs had its hands full on Monday in defending planned legislation to declare copper a precious metal in an attempt to curb rampant cable theft and ensure more convictions. At an intense debate with business in Johannesburg, Deputy Minister Andries Nel said the department was considering categorizing copper as a precious metal, which institutions including state-owned logistics giant Transnet have long been advocating.

Investors said apart from a firming trend in base metals, better demand from domestic industries at spot markets, influenced copper prices at futures trade here.

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
NZD	NZIER Business Confidence (Q3)	19%		32%
AUD	Interest Rate Decision (Oct)	2.50%	2.50%	2.50%
AUD	RBA Rate Statement
EUR	German Industrial Production	-4.0%	-1.5%	1.6%
JPY	BoJ Press Conference
GBP	Industrial Production (MoM)	0.0%	0.2%	0.4%
GBP	Manufacturing Production	0.1%	0.1%	0.3%
CAD	Building Permits (MoM) (Aug)		-13.0%	11.8%
USD	JOLTs Job Openings (Aug)		4.71M	4.67M

Upcoming Economic Events that you should be monitoring:

Cur.	Event	Actual	Forecast	Previous
JPY	Adjusted Current Acct.		0.19T	0.10T
JPY	Current Account n.s.a.		0.198T	0.417T
CNY	HSBC Services PMI (Sep)		53.8	54.1
JPY	BoJ Monthly Report
CAD	Housing Starts (Sep)		196.0K	192.4K
USD	FOMC Meeting Minutes