Silver Fundamental Analysis December 18, 2012, Forecast

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Updated: Aug 21, 2015, 01:00 UTC

Analysis and Recommendations: Silver continues to shine adding 0.061 to trade at 32.360. Money managers raised their bullish bets on U.S. gold futures and

Silver Fundamental Analysis December 18, 2012, Forecast

Analysis and Recommendations:

Silver continues to shine adding 0.061 to trade at 32.360. Money managers raised their bullish bets on U.S. gold futures and options to 129,865 contracts in the week ended Dec. 11, up from a more than three-month low of 126,073 lots in the previous week. But they cut net length in silver to 34,862 lots, the lowest since late November.

Industrial metals traded on a positive note as Chinese data continues to support the markets and the demand for metals. US recovery is underway, even though the pending fiscal problems could cause short term problems the overall economy is showing well. With the additional stimulus from the US Fed last week, metals buyers are seeing increased demands.

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 17, 2012 actual v. forecast

Date

Currency

Event

Actual

Forecast

Previous

Dec. 17

GBP

Rightmove House Price Index (MoM)

-3.3%

-2.6%

TRY

Turkish Quarterly Unemployment Rate

9.10%

9.00%

8.80%

CAD

Foreign Securities Purchases

13.26B

10.80B

14.12B

USD

NY Empire State Manufacturing Index

-8.1

-1.0

-5.2

USD

TIC Net Long-Term Transactions

1.3B

25.0B

3.2B

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

Date	Time	Currency	Event	Forecast	Previous
Dec. 18	09:30	GBP	CPI (YoY)	2.6%	2.7%
	09:30	GBP	PPI Input (MoM)	-0.1%	0.4%
	09:30	GBP	CPI (MoM)	0.2%	0.5%
	09:30	GBP	PPI Input (YoY)	-0.5%	0.1%
	13:30	USD	Current Account	-103.5B	-117.4B
Dec. 19	09:00	EUR	German Ifo Business Climate Index	102.0	101.4
	09:00	EUR	German Current Assessment	108.0	108.1
	09:00	EUR	German Business Expectations	96.3	95.2
	11:00	GBP	CBI Distributive Trades Survey	25	33
	13:30	USD	Building Permits	0.875M	0.868M
	13:30	USD	Housing Starts	0.870M	0.894M
Dec. 20	09:30	GBP	Retail Sales (MoM)	0.3%	-0.8%
	09:30	GBP	Retail Sales (YoY)	1.5%	0.6%
Dec. 21	07:00	EUR	GfK German Consumer Climate	5.9	5.9
	09:30	GBP	Current Account	-14.0B	-20.8B
	09:30	GBP	GDP (QoQ)	1.0%	1.0%
	09:30	GBP	GDP (YoY)	-0.1%	-0.1%