Gold

Gold Fundamental Analysis February 6, 2013, Forecast

Gold Fundamental Analysis February 6, 2013, Forecast
Gold Fundamental Analysis February 6, 2013, Forecast

Analysis and Recommendations:

Gold gained as traders moved from higher risk assets. Gold is up $5.65 trading at 1682.05 Gold prices are moderately higher in early U.S. trading, on some fresh technical buying, some bargain hunting and some short covering. Gold and silver traders and investors are looking for some fresh news to better drive their markets. Rumors and stories from the eurozone over the weekend have brought jitters back to the markets seeing gold climb from the 1650 range to 1682 since last week. Eurozone retail sales reported below forecast as the euro eased earlier in the day but are trading flat at this point. Overall markets have been directionless throughout the day.

Political turmoil in Spain raised worries amongst the market participants over the resolution of the debt crisis. Spanish Prime Minister faces corruption allegation which is raising worries over the continuation of the government’s policies and its leadership.  This increased the safe haven appeal of the gold.

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 up to the data analysis and information in our weekly reports.

Economic Data February 5, 2013 actual v. forecast

Date

Time

 

Currency

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Feb. 05

00:30

 

AUD

 

 

House Price Index (QoQ) 

1.60%

 

0.30% 

 

-0.10% 

   

 

00:30

 

AUD

 

 

Trade Balance 

-0.43B

 

-0.80B 

 

-2.79B 

   

 

03:30

 

AUD

 

 

Interest Rate Decision 

3.00%

 

3.00% 

 

3.00% 

 

 

 

03:30

 

AUD

 

 

RBA Rate Statement 

 

 

 

 

 

 

 

 

09:30

 

GBP

 

 

Services PMI 

51.5

 

49.8 

 

48.9 

 

 

 

10:00

 

EUR

 

 

Retail Sales (MoM) 

-0.8%

 

-0.5% 

 

-0.1% 

   

 

12:00

 

RUB

 

 

Russian CPI (MoM) 

1.0%

 

0.8% 

 

0.5% 

 

 

 

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

Date

Time

Currency

Event

Forecast

Previous

Feb. 06

11:00

EUR

German Factory Orders (MoM) 

0.9%

-1.8%

Feb. 07

06:45

CHF

SECO Consumer Climate 

-14

-17

 

09:30

GBP

Industrial Production (MoM) 

0.9%

0.3%

 

09:30

GBP

Manufacturing Production (MoM) 

0.8%

-0.3%

 

09:30

GBP

Trade Balance 

-8.9B

-9.2B

 

09:30

GBP

Industrial Production (YoY) 

-2.1%

-2.4%

 

11:00

EUR

German Industrial Production (MoM) 

0.2%

0.2%

 

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%

 

13:30

USD

Nonfarm Productivity (QoQ) 

-1.2%

2.9%

 

13:30

USD

Unit Labor Costs (QoQ) 

3.0%

-1.9%

Feb. 08

05:30

CNY

Chinese CPI (YoY) 

2.0%

2.5%

 

05:30

CNY

Chinese PPI (YoY) 

-1.6%

-1.9%

 

05:30

CNY

Chinese CPI (MoM) 

1.0%

0.8%

 

08:15

CHF

Retail Sales (YoY) 

2.0%

2.9%

 

13:30

USD

Trade Balance 

-46.0B

-48.7B

Upcoming Government Bond

Date Time Country 

Feb 06 10:10 Sweden 

Feb 06 10:30 Germany 

Feb 06 14:00 US 

Feb 07 09:30 Spain 

Feb 07 12:00 Norway 

Feb 07 15:30 Sweden 

Feb 07 09:50 France 

Feb 07 16:30 Italy  

Feb 08 11:30 Belgium 

Feb 08 16:30 Italy  

Feb 11 10:30 Germany 

Feb 12 09:10 Holland 

Feb 12 09:30 Spain 

Feb 12 10:10 Italy  

Feb 12 10:10 Norway 

Feb 12 10:30 Belgium 

Feb 12 15:30 UK 

Feb 12 18:00 US 

Feb 13 01:30 Japan 

Feb 13 10:10 Italy  

Feb 13 10:30 Germany 

Feb 13 15:30 Sweden 

Feb 13 18:00 US 

Feb 14 10:10 Sweden 

Feb 14 10:30 UK 

Feb 14 16:00 US 

Feb 14 18:00 US

Leave a Reply

Your email address will not be published. Required fields are marked *