By FXEmpire.com
Analysis and Recommendations:
Crude Oil is holding at 80.89, staying at the 80.00 price level, where it will most likely remain for the short term. Oil remains over produced and the EIA inventory decline was under forecast. As growth continues to fall and as the EU debt crisis continues with no signs of significant progress, the future demand of oil remain negative.
Crude oil dripped down on worries over the Euro Zone debt contagion. Brent crude oil dropped for the first time in five days on concerns over the economic growth in the euro area. However fall in oil production owing to strike by oil workers in Norway, the eighth largest oil exporter, is likely to cushion the fall in 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 June 28, 2012 actual v. forecast… and you didn’t think it could get worse. The German workhorse breaks a leg…
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Jun. 28 |
JPY |
Retail Sales (YoY) |
3.6% |
3.0% |
5.7% |
|
AUD |
HIA New Home Sales (MoM) |
0.7% |
6.9% |
||
|
GBP |
Nationwide HPI (MoM) |
-0.6% |
0.1% |
0.2% |
|
|
EUR |
German Unemployment Rate |
6.8% |
6.7% |
6.8% |
|
|
EUR |
German Unemployment Change |
7K |
5K |
0K |
|
|
GBP |
Business Investment (QoQ) |
1.9% |
3.6% |
3.6% |
|
|
GBP |
Current Account |
-11.2B |
-9.0B |
-7.2B |
|
|
GBP |
GDP (QoQ) |
-0.3% |
-0.3% |
-0.3% |
|
|
GBP |
GDP (YoY) |
-0.2% |
-0.1% |
-0.1% |
|
|
EUR |
Italian 10-Year BTP Auction |
6.19% |
6.03% |
And the good news is or almost good news
|
USD |
Initial Jobless Claims |
386K |
385K |
392K |
|
USD |
GDP Price Index (QoQ) |
2.0% |
1.7% |
1.7% |
|
USD |
GDP (QoQ) |
1.9% |
1.9% |
1.9% |
|
USD |
Continuing Jobless Claims |
3296K |
3280K |
3311K |
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)
Click here to read Crude Oil Technical Analysis.
Originally posted here
