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Silver Fundamental Analysis December 24, 2012 Forecast
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Analysis and Recommendations: Silver gained 24 cents today to trade at 29.92 remaining well under the 30.00 price range where it had been trading for the
Silver gained 24 cents today to trade at 29.92 remaining well under the 30.00 price range where it had been trading for the last few weeks. Precious metals recovered a bit helping silver regain yesterday’s losses while the metals pack remained weak. . The House of Representatives Speaker John Boehner canceling a vote on tax bill after he failed to obtain enough support from the Republicans witnessed sharp sell-off in equities as well as commodities. Barring copper, base metals in LME were in negative territory. Lead lost the most, falling more than one per cent. LME copper rebounded from the previous session decline, but remained in the vicinity of a three week low it hit in the previous session. Growing uncertainty over the US budget deal punctured the risk appetite of the investors weighing on riskier assets. Meanwhile, precious metals are seen bouncing back following the previous session sharp declines.
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 21, 2012 actual v. forecast
|
Date |
|
Currency |
|
|
Event |
Actual |
|
Forecast |
|
Previous |
|
|
|
Dec. 21 |
|
JPY |
|
|
BoJ Monthly Report |
|
|
|
|
|
|
|
|
|
|
EUR |
|
|
GfK German Consumer Climate |
5.6 |
|
5.9 |
|
5.8 |
||
|
|
|
HUF |
|
|
Hungarian Retail Sales (YoY) |
-3.70% |
|
-2.60% |
|
-3.10% |
|
|
|
|
|
PLN |
|
|
Polish Unemployment Rate |
12.90% |
|
12.80% |
|
12.50% |
|
|
|
|
|
GBP |
|
|
Business Investment (QoQ) |
3.8% |
|
3.5% |
|
3.7% |
|
|
|
|
|
GBP |
|
|
Current Account |
-12.8B |
|
-14.0B |
|
-17.4B |
||
|
|
|
GBP |
|
|
GDP (QoQ) |
0.9% |
|
1.0% |
|
1.0% |
|
|
|
|
|
GBP |
|
|
GDP (YoY) |
0.0% |
|
-0.1% |
|
-0.1% |
|
|
|
|
|
BRL |
|
|
Brazilian Unemployment Rate |
4.9% |
|
5.1% |
|
5.3% |
|
|
|
|
|
CAD |
|
|
Core CPI (MoM) |
0.0% |
|
0.1% |
|
0.3% |
|
|
|
|
|
USD |
|
|
Core Durable Goods Orders |
1.6% |
|
-0.2% |
|
1.9% |
||
|
|
|
USD |
|
|
Core PCE Price Index (MoM) |
0.0% |
|
0.1% |
|
0.1% |
|
|
|
|
|
CAD |
|
|
CPI (MoM) |
-0.2% |
|
-0.1% |
|
0.2% |
|
|
|
|
|
USD |
|
|
Durable Goods Orders (MoM) |
0.7% |
|
0.2% |
|
1.1% |
||
|
|
|
CAD |
|
|
GDP (MoM) |
0.1% |
|
0.1% |
|
0.0% |
|
|
|
|
|
USD |
|
|
Personal Spending (MoM) |
0.4% |
|
0.3% |
|
-0.1% |
||
|
|
|
CAD |
|
|
CPI (YoY) |
0.8% |
|
1.0% |
|
1.2% |
Upcoming Economic Events that affect the CHF, EUR, GBP CAD and USD
There are no eco events on the calendar for Monday, December 24 and markets will be closed on Tuesday December 25th. Traders and politicians are expected to be out of their offices for the season with low volume and low volatility. The only global issue is the US fiscal deadline. I would like to wish all of my readers a safe and healthy holiday season and all the best in the new year.
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
About the Author
Barry Normanauthor
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