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Silver Fundamental Analysis December 10, 2012, Forecast

By:
Barry Norman
Updated: Aug 21, 2015, 00:00 UTC

Analysis and Recommendations: Silver is trading at 33.173 up by 59pips as precious metals eased off today. Precious metals steadied following the sharp

Silver Fundamental Analysis December 10, 2012, Forecast

Silver Fundamental Analysis December 10, 2012, Forecast
Silver Fundamental Analysis December 10, 2012, Forecast
Analysis and Recommendations:

Silver is trading at 33.173 up by 59pips as precious metals eased off today. Precious metals steadied following the sharp movements in the earlier session. Base metals traded steady to negative in LME. Nickel and lead declined the most falling over 0.5 per cent while, copper, zinc and aluminum moved mostly steady as investors await economic indicators from China over the weekend. With growth downgraded in the UK and the eurozone the demand for metals has diminished. Traders will closely watch this week’s FOMC meet along with US lawmakers as the fiscal cliff comes closer.

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.

Economic Data December 7, 2012 actual v. forecast

Date

 

Currency

 

 

Event

Actual

 

Forecast

 

Previous

Dec. 07

 

AUD

 

 

Trade Balance 

-2.09B

 

-2.05B

 

-1.42B

 

 

GBP

 

 

Industrial Production (MoM) 

-0.8%

 

0.7%

 

-2.1%

 

 

GBP

 

 

Manufacturing Production (MoM) 

-1.3%

 

-0.2%

 

0.1%

 

 

GBP

 

 

Industrial Production (YoY) 

-3.0%

 

-0.6%

 

-3.2%

 

 

EUR

 

 

ECB President Draghi Speaks 

         

 

 

EUR

 

 

German Industrial Production (MoM) 

-2.6%

 

-0.5%

 

-1.3%

 

 

USD

 

 

Average Hourly Earnings (MoM) 

0.2%

 

0.2%

 

0.0%

 

 

CAD

 

 

Employment Change 

59.3K

 

10.0K

 

1.8K

 

 

CAD

 

 

Labor Productivity (QoQ) 

-0.5%

     

-0.6%

 

 

USD

 

 

Nonfarm Payrolls 

146K

 

93K

 

138K

 

 

USD

 

 

Unemployment Rate 

7.7%

 

7.9%

 

7.9%

 

 

CAD

 

 

Unemployment Rate 

7.2%

 

7.0%

 

7.4%

 

 

USD

 

 

Average Weekly Hours 

34.4

 

34.4

 

34.4

 

 

USD

 

 

Private Nonfarm Payrolls 

147K

 

95K

 

189K

 

 

USD

 

 

Michigan Consumer Sentiment 

   

82.4

 

82.7

 

Upcoming Economic Events that affect the CHF, EUR, GBP and USD

There are no top tier events schedule for Monday December 10, 2012 ahead of the FOMC two day meeting traders will be watching US lawmakers as the fiscal cliff comes closer.

Government Bond Auction

Date Time Country 

Dec 10 10:10 Norway 

Dec 10 10:10 Slovakia 

Dec 10 15:30 UK 

Dec 10 16:30 Italy  

Dec 11 09:30 Spain 

Dec 11 10:10 Greece 

Dec 11 10:15 Austria 

Dec 11 10:30 Belgium 

Dec 11 10:30 UK 

Dec 11 18:00 US 

Dec 12 10:10 Italy  

Dec 12 10:10 Sweden 

Dec 12 10:30 Swiss 

Dec 12 16:30 US 

Dec 13 01:30 Japan 

Dec 13 09:30 Spain 

Dec 13 10:10 Italy  

Dec 13 10:30 UK 

Dec 13 16:00 US 

Dec 13 18:00 US 

Dec 14 11:00 Belgium 

Dec 14 15:30 UK 

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