Metals Pack Weekly Fundamental Analysis, October 27-31, 2014, Forecast – Silver & Copper

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Updated: Aug 25, 2015, 03:00 GMT+00:00

Weekly Analysis and Recommendations: Silver ended the week at 17.197 close to its lowest this month taking cues from gold. Copper was flat on Friday but

Metals Pack Weekly Fundamental Analysis, October 27-31, 2014, Forecast - Silver & Copper

Weekly Analysis and Recommendations:

Silver ended the week at 17.197 close to its lowest this month taking cues from gold. Copper was flat on Friday but recovered from the weeks low at the 2.99 range to end at 3.039 on relief over Chinese data. Strong global economic data on Thursday calmed investor nerves after a recent sell-off, prompting many to pull out of precious metals and other assets perceived as safe.

The next main market focus will be on the Federal Reserve’s meeting on Tuesday and Wednesday. The consensus view is that the US central bank will decide to wrap up asset purchases under its third round of quantitative easing. Markets will be looking for any clues on the timing of its first interest rate increase. Precious metals has benefited in the years after the 2008 financial crisis from low interest rates and increased central bank liquidity.

Copper, aluminium and other base metals lost ground on Friday after Chinese house prices fell for a fifth straight month, highlighting concerns about economic growth in the world’s biggest metals consumer.

The fall in Chinese home prices in September wiped out gains scored in the past year, raising expectations the government will have to implement more economic support measures to cushion the blow.

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

Major Economic Events for the week of October 27-31st

Time	Cur.	Imp.	Event	Actual	Forecast	Previous
Monday, October 27
		Holiday	New Zealand – Labour Day
	EUR		German Ifo Business Climate Index (Oct)		104.3	104.7
	USD		Pending Home Sales (MoM) (Sep)		0.5%	-1.0%
Tuesday, October 28
	USD		Core Durable Goods Orders (MoM) (Sep)		0.5%	0.4%
	USD		CB Consumer Confidence (Oct)		87.0	86.0
Wednesday, October 29
	NZD		Interest Rate Decision		3.50%	3.50%
Thursday, October 30
	EUR		German Unemployment Change (Oct)		5K	13K
	USD		GDP (QoQ) (Q3)		3.0%	4.6%
Friday, October 31
	EUR		CPI (YoY) (Oct)		0.4%	0.3%
	CAD		GDP (MoM) (Aug)