By FXEmpire.com

Analysis and Recommendations:

Crude Oil post Bernanke, today, all prices have to be quoted post or pre Bernanke, in early trading crude remained strong, on the geopolitical tension from Iran with Syria and Turkey pushing up the worries, but as markets positioned themselves for the Fed, oil moved upwards trading in the mid 89 level.

After Mr. Bernanke disappointed investors, holding to the comments included in the prior FOMC minutes, markets relaxed and oil dipped below the high for the day and returned to trade at 88.83

Ahead of inventory on Thursday, U.S. commercial crude oil stockpiles were projected down for last week due to higher refinery utilization, and increases in petroleum products according to Reuter’s poll.

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

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 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

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)

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Originally posted here