Silver Fundamental Analysis July 11, 2012, Forecast

Analysis and Recommendations:

Silver declined today, to trade at 27.22. Precious metals edged down today, pressured by a higher dollar as investors nervous about global economic growth piled into the greenback for safety. Industrial metals edged down today as Chinese imports of the metal fell 17.5 percent in June from a month earlier, with traders cautious ahead of China GDP data this week. The drop in imports reported as part of the trade balance surprised the markets and weighed heavily on the metals pack. Gold spent the day moving between small losses and gains, without much direction.

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 July 10, 2012 actual v. forecast

Date

 

Currency

 

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Jul. 10

 

GBP

 

 

 

RICS House Price Balance 

-22%

 

-16% 

 

-17% 

   

 

 

AUD

 

 

 

NAB Business Confidence 

-3

 

 

 

-2 

 

 

 

 

CNY

 

 

 

Chinese Trade Balance 

31.73B

 

21.00B 

 

18.70B 

 

 

 

 

DKK

 

 

 

Danish CPI (YoY) 

2.20%

 

2.20% 

 

2.10% 

 

 

 

 

NOK

 

 

 

Norwegian Core Inflation (MoM) 

-0.30%

 

0.10% 

 

0.40% 

 

 

 

 

NOK

 

 

 

Norwegian CPI (MoM) 

-0.50%

 

-0.10% 

 

0.00% 

 

 

 

 

GBP

 

 

 

Industrial Production (MoM) 

1.0%

 

-0.2% 

 

-0.4% 

   

 

 

GBP

 

 

 

Manufacturing Production (MoM) 

1.2%

 

0.1% 

 

-0.8% 

   

 

 

GBP

 

 

 

Trade Balance 

-8.4B

 

-9.0B 

 

-9.7B 

   

 

 

GBP

 

 

 

Industrial Production (YoY) 

-1.6%

 

-2.1% 

 

-2.0% 

   

 

 

CAD

 

 

 

Housing Starts 

222.7K

 

205.0K 

 

217.4K 

   

 

 

GBP

 

 

 

NIESR GDP Estimate 

-0.2%

 

 

 

0.1% 

   

 

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

Date

Time

Currency

 Event

Previous

Jul 11

12:30

USD

Trade Balance

-50.1B

14:30

USD

Crude Oil Inventories

-4.3M

Jul 12

9:00

EUR

Industrial Production m/m

-0.8%

12:30

USD

Unemployment Claims

 

12:30

USD

Import Prices m/m

-1.0%

18:00

USD

Federal Budget Balance

-124.6B

7:15

CHF

PPI m/m

-0.2%

Jul 13

12:30

USD

PPI m/m

-1.0%

13:55

USD

Prelim UoM Consumer Sentiment

73.2

 

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