By FXEmpire.com
Analysis and Recommendations:
Crude Oil continued to climb to trade at 91.23
Crude oil continued it’s up run. Nymex and Brent crude oil rose for the seventh consecutive day to its highest in seven weeks. Crude oil in Nymex was trading above $90 a barrel while Brent crude oil breached $106 a barrel. Brewing tensions in the Middle East, fall in crude oil and gasoline stockpiles and positive economic data augmented prices.
Yesterdays EIA inventory, showed a small decrease in stocks but not what investors were expecting.
Geopolitical tension has kept the prices strong.
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 19, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Jul. 19 |
AUD |
NAB Quarterly Business Confidence |
-2.00 |
-1.00 |
|
|
GBP |
Retail Sales (MoM) |
0.1% |
0.6% |
1.5% |
|
|
GBP |
Retail Sales (YoY) |
1.6% |
2.4% |
2.1% |
|
|
USD |
Initial Jobless Claims |
386K |
365K |
352K |
|
|
Wholesale Sales (MoM) |
0.9% |
0.2% |
1.2% |
||
|
USD |
Continuing Jobless Claims |
3314K |
3299K |
3313K |
WEEKLY
- This Week in Petroleum
Release Schedule: Wednesday @ 1:00 p.m. EST (schedule) - Gasoline and Diesel Fuel Update
Release Schedule: Monday between 4:00 and 5:00 p.m. EST (schedule) - Weekly Petroleum Status Report
Release Schedule: The wpsrsummary.pdf, overview.pdf, and Tables 1-14 in CSV and XLS formats, are released to the Web site after 10:30 a.m. (Eastern Time) on Wednesday. All other PDF and HTML files are released to the Web site after 1:00 p.m. (Eastern Time) on Wednesday. Appendix D is produced during the winter heating season, which extends from October through March of each year. For some weeks which include holidays, releases are delayed by one day. (schedule)
Upcoming Economic Events that affect the CHF, EUR, GBP and USD
|
Date |
Time |
Currency |
Event |
Previous |
|
Jul 20 |
6:00 |
EUR |
-0.3% |
|
|
8:30 |
GBP |
15.6B |
Government Bond Auctions
Date Time Country
Jul 23- n/a UK
Jul 23 09:30 Germany
Jul 24 08:30 Netherlands
Jul 24 08:30 Spain
Jul 24 15:30 Italy
Jul 24 17:00 US
Jul 25 09:30 Germany
Jul 25 15:30 Italy
Jul 25 17:00 US
Jul 26 00:30 Japan
Jul 26 09:10 Italy
Jul 27 09:10 Italy
Jul 27 17:00 US
Click here to read Crude Oil Technical Analysis.
Originally posted here
