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Silver Fundamental Analysis December 21, 2012, Forecast

By:
Barry Norman
Updated: Aug 21, 2015, 01:00 UTC

Analysis and Recommendations: Silver fell harder than gold dropping 3.86% today off by 1.201. Silver is trading at 29.915 falling under the all-important

Silver Fundamental Analysis December 21, 2012, Forecast

Analysis and Recommendations:

Silver fell harder than gold dropping 3.86% today off by 1.201. Silver is trading at 29.915 falling under the all-important 30 price level for the first time in recent months. Industrial metals tumbled today on easing in Japan and negative housing data in the US along with worries about the fiscal train wreck ahead for the US.

After the negotiations over averting the ‘fiscal cliff’ came to a standstill as the deadline approached nickel dropped the most falling over one per cent while copper declined 0.8 per cent. Even as worries over the US continued to hurt sentiments, optimistic outlook over the Chinese economic growth provided lower level support to prices. Also, investors were staying on the sidelines ahead of the year-end holidays

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 20, 2012 actual v. forecast

Date

 

Currency

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Dec. 20

 

JPY

 

 

Interest Rate Decision 

0.10%

 

0.10% 

 

0.10% 

 

 

 

 

JPY

 

 

BoJ Press Conference 

 

 

 

 

 

 

 

 

 

DKK

 

 

Danish Retail Sales (YoY) 

-0.5%

 

 

 

-1.8% 

   

 

 

HKD

 

 

Hong Kong CPI (YoY) 

3.70%

 

3.90% 

 

3.80% 

 

 

 

 

GBP

 

 

Retail Sales (MoM) 

0.0%

 

0.3% 

 

-0.7% 

   

 

 

GBP

 

 

Retail Sales (YoY) 

0.9%

 

1.5% 

 

0.8% 

   

 

 

CAD

 

 

Core Retail Sales (MoM) 

0.5%

 

0.2% 

 

0.1% 

   

 

 

CAD

 

 

Retail Sales (MoM) 

0.7%

 

0.1% 

 

0.2% 

   

 

 

USD

 

 

Initial Jobless Claims 

361K

 

357K 

 

344K 

   

 

 

USD

 

 

GDP (QoQ) 

3.1%

 

2.8% 

 

2.7% 

 

 

 

 

USD

 

 

Continuing Jobless Claims 

3225K

 

3199K 

 

3213K 

   

 

 

USD

 

 

Existing Home Sales 

 

 

4.87M 

 

4.79M 

 

 

 

 

USD

 

 

Philadelphia Fed Manufacturing Index 

 

 

-3.0 

 

-10.7 

 

 

 

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

Date

Time

Currency

Event

Forecast

Previous

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%

 

13:30

USD

Core Durable Goods Orders (MoM) 

-0.2%

1.8%

 

13:30

USD

Core PCE Price Index (MoM) 

0.1%

0.1%

 

13:30

USD

Durable Goods Orders (MoM) 

0.2%

0.5%

 

13:30

USD

Personal Spending (MoM) 

0.3%

-0.2%

 

14:55

USD

Michigan Consumer Sentiment 

74.7

74.5

Government Bond Auction

Date Time Country 

Dec 21 16:30 Italy  

Dec 26 01:30 Japan 

Dec 27 10:10 Italy  

Dec 28 10:10 Italy 

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