Silver Fundamental Analysis December 4, 2012, Forecast

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Updated: Aug 20, 2015, 23:00 UTC

Analysis and Recommendations: Silver is trading at 33.695 on a positive note adding at 0.416. Silver climbed along with precious metals just a bit today,

Silver Fundamental Analysis December 4, 2012, Forecast

Analysis and Recommendations:

Silver is trading at 33.695 on a positive note adding at 0.416. Silver climbed along with precious metals just a bit today, but got the bump from the metals family after positive data from China, showed an increase in production and manufacturing, increasing demand for industrial metals. Base metals showcased a mixed trend in LME. While copper hit a six week high buoyed by an upbeat manufacturing data from China, Lead, zinc and aluminum were seen turning red. Nickel gained the most rising nearly one per cent. A similar trend was witnessed in the MCX base metal complex too, with nickel rising over one percent, while lead, zinc and aluminum were seen trimming earlier gains. As with crude oil, the surprise increase in ISM manufacturing helped increase manufacturing demands in late trading.

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 3, 2012 actual v. forecast

Date

Currency

Event

Actual

Forecast

Previous

Dec. 03

AUD

Company Gross Operating Profits (QoQ)

-2.9%

-2.5%

-0.3%

AUD

Retail Sales (MoM)

0.0%

0.4%

0.5%

CNY

Chinese HSBC Manufacturing PMI

50.50

50.40

JPY

BoJ Governor Shirakawa Speaks

TRY

Turkish CPI (MoM)

0.38%

0.91%

1.96%

CHF

Retail Sales (YoY)

2.7%

4.1%

5.4%

CHF

SVME PMI

48.5

47.0

46.1

EUR

Italian Manufacturing PMI

45.10

45.90

45.50

EUR

French Manufacturing PMI

44.5

44.7

EUR

German Manufacturing PMI

46.8

46.8

EUR

Manufacturing PMI

46.2

46.2

GBP

Manufacturing PMI

49.1

48.1

47.3

USD

ISM Manufacturing Index

52.80

51.3

51.7

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

Date	Time	Currency	Event	Forecast	Previous
Dec. 05	10:00	EUR	Retail Sales (MoM)	-0.1%	-0.2%
	13:15	USD	ADP Nonfarm Employment Change	125K	158K
	13:30	USD	Nonfarm Productivity (QoQ)	2.7%	1.9%
	13:30	USD	Unit Labor Costs (QoQ)	-0.9%	-0.1%
	15:00	USD	ISM Non-Manufacturing Index	53.5	54.2
Dec. 06	08:15	CHF	CPI (MoM)		0.1%
	09:30	GBP	Trade Balance	-8.8B	-8.4B
	10:00	EUR	GDP (QoQ)	-0.1%	-0.1%
	11:00	EUR	German Factory Orders (MoM)	0.9%	-3.3%
	12:00	GBP	Interest Rate Decision	0.50%	0.50%
	12:00	GBP	BOE QE Total	375B	375B
	12:45	EUR	Interest Rate Decision	0.75%	0.75%
Dec. 07	09:30	GBP	Industrial Production (MoM)	0.7%	-1.7%
	09:30	GBP	Manufacturing Production (MoM)	-0.2%	0.1%
	09:30	GBP	Industrial Production (YoY)	-0.6%	-2.6%
	11:00	EUR	German Industrial Production (MoM)	-0.5%	-1.8%