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Metals Pack Weekly Fundamental Analysis, October 13-17, 2014 Forecast – Silver & Copper

By:
Barry Norman
Updated: Aug 25, 2015, 00:00 UTC

Weekly Analysis and Recommendations: Silver spent most of the week bouncing around in a tight trading range near the 17.-17.50 price range under the

Metals Pack Weekly Fundamental Analysis, October 13-17, 2014 Forecast  – Silver & Copper

Metals Pack Weekly Fundamental Analysis 2014 Forecast – Silver & Copper
Metals Pack Weekly Fundamental Analysis 2014 Forecast – Silver & Copper
Weekly Analysis and Recommendations:

Silver spent most of the week bouncing around in a tight trading range near the 17.-17.50 price range under the influence of precious metals and base metals. Copper closed the week at 3.038 recovering from its fall below $3 after the IMF reduced global growth and predicted a recession in the eurozone. Copper trimmed its first weekly gain since August amid worry that European economies are slowing down and Germany is heading for recession.

Copper on the London Metal Exchange slipped as much as 1.2 percent, leading industrial metals lower. There are signs the euro area’s economic recovery is losing momentum, European Central Bank President Mario Draghi said yesterday. Exports from Germany, the third-largest metals consumer, slumped the most since January 2009, data showed yesterday, while a report by four economic institutes warned the nation’s economy is on the edge of recession.

The metal used in power and construction has lost 9 percent for the year, weighed down by the outlook for slack demand as more supplies enter the market.

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 and we provide daily updates and outlooks.

Historical: From 2011 to present

Highest: 44.188 on Aug 22, 2011

Average: 31.108 over this period

Lowest: 16.47 in September 2014

 

Silver(60 minutes)20141011102237

Upcoming Major Economic Events for the week of Oct 13-17, 2014

Time

Cur.

Imp.

Event

Actual

Forecast

Previous

Monday, October 13

 

 

Holiday

Japan – Health-Sports Day

 

 

Holiday

Canada – Thanksgiving Day

 

  CNY

 

Trade Balance (Sep)

 

41.00B

49.83B

 

Tuesday, October 14

 

  GBP

 

CPI (YoY) (Sep)

 

1.4%

1.5%

 

Wednesday, October 15

 

  CNY

 

CPI (YoY) (Sep)

 

1.7%

2.0%

 

 

  GBP

 

Average Earnings Index +Bonus (Aug)

 

0.7%

0.6%

 

 

  GBP

 

Claimant Count Change (Sep)

 

-35.0K

-37.2K

 

 

  USD

 

Core Retail Sales (MoM) (Sep)

 

0.3%

0.3%

 

 

  USD

 

PPI (MoM) (Sep)

 

0.1%

 

 

 

  USD

 

Retail Sales (MoM) (Sep)

 

-0.1%

0.6%

 

Thursday, October 16

 

  EUR

 

CPI (YoY) (Sep)

 

0.3%

0.3%

 

 

  USD

 

Philadelphia Fed Manufacturing Index (Oct)

 

19.9

22.5

 

Friday, October 17

 

  USD

 

Building Permits (Sep)

 

1.030M

1.003M

 

 

  CAD

 

Core CPI (MoM) (Sep)

 

 

0.5%

 

 

 

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