Silver Fundamental Analysis July 18, 2012, Forecast

Analysis and Recommendations:

Silver is trading post Bernanke at 27.078 down 0.243. Industrial metals and precious metals were down after Bernanke and on global growth revisions from the IMF. Markets had pinned their hopes on additional stimulus from the central bank after growth was revised slightly downward yesterday.

With contractions in China, and lower demand, the metals pack fell today, dragging silver down with it.

Gold also fell after earlier gains.

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 Reported on July 17, 2012 actual v. forecast

Date

 

Currency

 

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Jul. 17

 

AUD

 

 

 

Monetary Policy Meeting Minutes 

 

 

 

 

 

 

 

 

 

GBP

 

 

 

Core CPI (YoY) 

2.1%

 

2.3% 

 

2.2% 

 

 

 

 

GBP

 

 

 

CPI (YoY) 

2.4%

 

2.8% 

 

2.8% 

 

 

 

 

GBP

 

 

 

CPI (MoM) 

-0.4%

 

-0.1% 

 

-0.1% 

 

 

 

 

EUR

 

 

 

German ZEW Economic Sentiment 

-19.6

 

-20.0 

 

-16.9 

 

 

 

 

EUR

 

 

 

ZEW Economic Sentiment 

-22.3

 

-28.0 

 

-20.1 

 

 

 

 

GBP

 

 

 

BoE Gov King Speaks 

 

 

 

 

 

 

 

 

 

USD

 

 

 

Core CPI (MoM) 

0.2%

 

0.2% 

 

0.2% 

 

 

 

 

USD

 

 

 

CPI (MoM) 

0.0%

 

-0.1% 

 

-0.3% 

 

 

 

 

CAD

 

 

 

Manufacturing Sales (MoM) 

-0.40%

 

1.00% 

 

-1.10% 

   

 

 

USD

 

 

 

CPI (YoY) 

1.7%

 

1.6% 

 

1.7% 

 

 

 

 

USD

 

 

 

Core CPI (YoY) 

2.2%

 

2.2% 

 

2.3% 

 

 

 

 

CAD

 

 

 

Interest Rate Decision 

1.00%

 

1.00% 

 

1.00% 

 

 

 

 

USD

 

 

 

TIC Net Long-Term Transactions 

55.0B

 

45.7B 

 

27.2B 

   

 

 

USD

 

 

 

Industrial Production (MoM) 

0.4%

 

0.3% 

 

-0.2% 

   

 

 

USD

 

 

 

Fed Chairman Bernanke Testifies 

             

 

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

Date

Time

Currency

 Event

Previous

Jul 18

8:30

GBP

Claimant Count Change

8.1K

8:30

GBP

Unemployment Rate

8.2%

9:00

CHF

ZEW Economic Expectations

-43.4

12:30

USD

Building Permits

0.78M

12:30

USD

Housing Starts

0.71M

14:30

USD

Crude Oil Inventories

-4.7M

Jul 19

6:00

CHF

Trade Balance

2.48B

8:00

EUR

Current Account

4.6B

8:30

GBP

Retail Sales m/m

1.4%

12:30

USD

Unemployment Claims

 

14:00

USD

Existing Home Sales

4.55M

14:00

USD

Philly Fed Manufacturing Index

-16.6

Jul 20

6:00

EUR

German PPI m/m

-0.3%

8:30

GBP

Public Sector Net Borrowing

15.6B

 

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