Silver Fundamental Analysis November 8, 2012, Forecast

Silver Fundamental Analysis November 8, 2012, Forecast
Silver Fundamental Analysis November 8, 2012, Forecast
Analysis and Recommendations:

Silver followed the metals pack and gold’s lead to dip almost 46 cents today, to trade at 31.575. With the elections over and the initial reaction to the outcome passed the US dollar regained its momentum from earlier in the week and commodities declines once again with gold leading the pack. Precious metals and industrial metals tumbled in afternoon trading.

Precious metals and industrial metals prepared for the Chinese data dump due on Thursday..

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 November 7, 2012 actual v. forecast

Nov. 07

 

CHF

 

 

CPI (MoM) 

0.1%

 

0.3%

 

0.3%

 

 

EUR

 

 

Retail Sales (MoM) 

-0.2%

 

-0.1%

 

0.2%

 

 

EUR

 

 

German Industrial Production (MoM) 

-1.8%

 

-0.5%

 

-0.4%

 

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

Date

Time

Currency

Event

Forecast

Previous

Nov. 08

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%

Nov. 09

01:30

CNY

Chinese CPI (YoY) 

1.9%

1.9%

 

01:30

CNY

Chinese PPI (YoY) 

-2.7%

-3.6%

 

01:30

CNY

Chinese CPI (MoM) 

0.1%

0.3%

 

05:30

CNY

Chinese Fixed Asset Investment (YoY) 

20.6%

20.5%

 

05:30

CNY

Chinese Industrial Production (YoY) 

9.4%

9.2%

 

05:30

CNY

Chinese Retail Sales (YoY) 

14.1%

14.2%

 

07:00

EUR

German CPI (MoM) 

 

 

 

07:00

EUR

German CPI (YoY) 

2.0%

2.0%

 

09:30

GBP

Trade Balance 

-8.9B

-9.8B

Government Bond Auction

Date Time Country 

Nov 08 9:30 Spain 

Nov 08 10:10 Sweden 

Nov 08 16:30 Italy  

Nov 08 18:00 US 

Nov 09 11:00 Belgium 

Nov 09 16:30 Italy

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