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Metals Pack Weekly Fundamental Analysis, October 20-24, 2014 Forecast – Silver & Copper

By:
Barry Norman
Updated: Aug 25, 2015, 02:00 UTC

Weekly Analysis and Recommendations: Silver continued to decline to trade at 17.256 slowly easing towards the $17.00 price weighed down by precious metals

Metals Pack Weekly Fundamental Analysis, October 20-24, 2014 Forecast – Silver & Copper

Metals Pack Weekly Fundamental Analysis, October 20-24, 2014 Forecast – Silver & Copper
Metals Pack Weekly Fundamental Analysis, October 20-24, 2014 Forecast – Silver & Copper
Weekly Analysis and Recommendations:

Silver continued to decline to trade at 17.256 slowly easing towards the $17.00 price weighed down by precious metals and a lack of demand for industrial metals. Copper ended the week at 3.005 moving a bit off the bottom of 2.97 this week although traders continue to monitor the Chinese economy for metal demands. Copper prices plunged to their lowest levels in six months on Friday, pressured by concerns about the outlook for global economic growth and caution about the implications of the approaching end of US stimulus measures. Industrial metals rebounded on Friday, taking a pause after heavy losses this week, but analysts cautioned that markets were still on edge and vulnerable to deeper losses.

Copper was the weakest metal, bouncing slightly after hitting six-month lows on concern about a surge of mine supply swamping the market.

The rise in other metals was stronger, along with other global financial markets, following signs of strength in the US economy and reassuring words from US and European policymakers.

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

Copper(60 minutes)20141018093333
 
Silver(60 minutes)20141018093326

Economic Highlights of the coming week:

Day

Cur.

Imp.

Event

Actual

Forecast

Previous

Tuesday, October 21

 

  CNY

 

GDP (QoQ) (Q3)

 

1.8%

2.0%

 

 

  CNY

 

GDP (YoY) (Q3)

 

7.2%

7.5%

 

 

  CNY

 

Industrial Production (YoY) (Sep)

 

7.5%

6.9%

 

 

  USD

 

Existing Home Sales (Sep)

 

5.10M

5.05M

 

Wednesday, October 22

 

  AUD

 

CPI (QoQ) (Q3)

 

0.4%

0.5%

 

 

  USD

 

Core CPI (MoM) (Sep)

 

0.1%

 

 

 

  CAD

 

Core Retail Sales (MoM) (Aug)

 

 

-0.6%

 

 

  CAD

 

Interest Rate Decision 

 

 

1.00%

 

Thursday, October 23

 

  CNY

 

HSBC Manufacturing PMI (Oct)

 

 

50.2

 

 

  EUR

 

German Manufacturing PMI (Sep)

 

49.5

49.9

 

 

  GBP

 

Retail Sales (MoM) (Sep)

 

-0.1%

0.4%

 

Friday, October 24

 

  GBP

 

GDP (YoY) (Q3)

 

3.0%

3.2%

 

 

  GBP

 

GDP (QoQ) (Q3)

 

0.7%

0.9%

 

 

  USD

 

New Home Sales (Sep)

 

470K

504K

 

Upcoming Government Bond Auctions

Date Time Country 

Oct 21 10:30 Spain 3 & 9M T-bill auction

Oct 21 11:00 Norway Bond auction

Oct 21 11:00 UK Auctions 2.75% 2024 Gilt

Oct 22 11:30 Germany Eur 2.0bn Aug 2046 Bund auction

Oct 23 11:03 Sweden I/L bond auction

Oct 23 17:00 US Announces 2/5/7Y Note & 2Y FRN auctions on Oct 28/29/30 & 29

Oct 23 17:30 Italy Announces details of BTPei/CTZ auctions on Oct 28

Oct 23 19:00 US 30Y TIPS auction

Oct 24 17:30 Italy Announces details of BOT auction on Oct 29

 

 

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