By FXEmpire.com
Analysis and Recommendations:
Silver has been able to rise in today’s session adding 0.155 or 0.56% outpacing gold. Industrial metals traded on a more positive note as central banks around the globe are expected to act this week. The injection of additional stimulus, would help increase production and increase silver prices.
On a weekly basis, holdings in the iShares Silver Trust, the world’s largest silver-backed exchange-traded fund, declined by 0.6 percent to 9639.42 tons on 27th July 2012 from previous level at 9696.71 tonnes on 20th July 2012.
Expect Silver prices to trade sideways with upward bias on expectations of stimulus measures to be decided on August 1 by the US Federal Reserve policy makers coupled with weakness in the DX. Positive steps to be taken by the ECB President in the coming weeks will also act as supportive factor for the white metal prices.
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 for July 30, 2012 actual v. forecast
|
Date |
Time |
Currency |
Importance |
Event |
Actual |
Forecast |
Previous |
|
Jul. 30 |
00:50 |
JPY |
Industrial Production (MoM) |
-0.1% |
1.5% |
-3.4% |
|
|
02:00 |
AUD |
HIA New Home Sales (MoM) |
2.8% |
0.7% |
|||
|
10:20 |
EUR |
Italian 10-Year BTP Auction |
5.96% |
5.82% |
|||
|
11:00 |
GBP |
CBI Distributive Trades Survey |
11 |
15 |
42 |
Upcoming Economic Events that affect the CHF, EUR and GBP
|
Date |
Time |
Currency |
Event |
Forecast |
Previous |
|
Jul 31 |
6:45 |
EUR |
0.4% |
||
|
7:55 |
EUR |
7K |
|||
|
9:00 |
EUR |
2.4% |
|||
|
9:00 |
EUR |
11.1% |
|||
|
Aug 1 |
1st-8th |
GBP |
1.0% |
||
|
7:15 |
EUR |
41.1 |
|||
|
7:45 |
EUR |
44.6 |
|||
|
8:30 |
GBP |
48.6 |
|||
|
Aug 2 |
7:00 |
EUR |
-98.9K |
||
|
7:15 |
CHF |
6.2% |
|||
|
7:30 |
CHF |
48.1 |
|||
|
8:30 |
GBP |
48.2 |
|||
|
11:00 |
GBP |
375B |
|||
|
11:00 |
GBP |
0.50% |
0.50% |
||
|
11:45 |
EUR |
0.75% |
0.75% |
||
|
12:30 |
EUR |
||||
|
Aug 3 |
8:30 |
GBP |
51.3 |
||
|
9:00 |
EUR |
0.6% |
Government Bond Auctions
Date Time Country
Jul 31 00:30 Japan
Jul 31 09:30 Belgium
Aug 01 09:30 Germany
Aug 01 10:00 Norway
Aug 01 13:00 US
Aug 02 08:30 Spain
Click here a current Silver Chart.
Originally posted here
