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Silver Fundamental Analysis December 28, 2012, Forecast

By:
Barry Norman
Updated: Aug 21, 2015, 02:00 UTC

Analysis and Recommendations: Silver is trading at 30.368 adding 0.033 today moving against gold. Industrial metals saw a small gain in today’s trading

Silver Fundamental Analysis December 28, 2012, Forecast

Analysis and Recommendations:

Silver is trading at 30.368 adding 0.033 today moving against gold. Industrial metals saw a small gain in today’s trading after more stimulus is expected from Japan, which is supporting higher metals price. Overall precious metals remain weak ahead of US fiscal negotiations. Lawmakers have returned to Washington and are meeting in intensive sessions to try to avoid fiscal deadlines just 5 days from now.

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 27, 2012 actual v. forecast

Date

 

Currency

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Dec. 27

 

GBP

 

 

BBA Mortgage Approvals 

33.6K

 

34.6K 

 

33.1K 

   

 

 

USD

 

 

Initial Jobless Claims 

350K

 

360K 

 

362K 

   

 

 

USD

 

 

Continuing Jobless Claims 

3206K

 

3200K 

 

3238K 

   

 

 

MXN

 

 

Mexican Trade Balance 

-1.273B

 

-0.700B 

 

-1.647B 

 

 

 

 

USD

 

 

CB Consumer Confidence 

65.1

 

70.0 

 

71.5 

   

 

 

USD

 

 

New Home Sales 

377K

 

378K 

 

361K 

   

 

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

Date

Time

 

Currency

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Dec. 28

07:45

 

EUR

 

 

French Consumer Spending (MoM) 

 

 

0.1% 

 

-0.2% 

 

 

 

07:45

 

EUR

 

 

French GDP (QoQ) 

 

 

0.2% 

 

0.2% 

 

 

 

08:30

 

SEK

 

 

Swedish Retail Sales (MoM) 

 

 

0.20% 

 

-1.70% 

 

 

 

10:10

 

EUR

 

 

Italian 10-Year BTP Auction 

 

 

 

 

4.45% 

 

 

 

14:45

 

USD

 

 

Chicago PMI 

 

 

51.0 

 

50.4 

 

 

 

15:00

 

USD

 

 

Pending Home Sales (MoM) 

 

 

1.0% 

 

5.2% 

 

 

 

Upcoming Economic Events that affect the CAD and USD

Government Bond Auction

Date Time Country

None Scheduled Until 2013 

 

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