By FXEmpire.com
Silver Weekly Fundamental Analysis April 16-20, 2012, Forecast
Analysis and Recommendations:
Silver trailed gold most of the week, moving up and down on economic worries and not on supply and demand. Silver, closed the week, falling to 31.49. Mid week silver reached a high of 32.575.
Earlier in the week, base metals were weak on negative data from China this past weekend showing an overall slowdown in manufacturing. Midweek silver gained with gold as markets had their confidence boosted with a string of good data, only to get a triple blow on Friday. The day started out with negative data from China showing a drop in GDP, which was compounded during the European trading session as Spain once again took center stage, with bond yields rising and growing worries. The grande finale was a drop in consumer confidence and a rising in inflation in the US.
Investors finally made the move, away from metals, and commodities and to the safety of the greenback.
|
Date |
Open |
High |
Low |
Change % |
|
|
04/13/2012 |
31.497 |
32.355 |
32.428 |
31.307 |
-2.65% |
|
04/12/2012 |
32.350 |
31.598 |
32.575 |
31.425 |
2.38% |
|
04/11/2012 |
31.603 |
31.595 |
31.807 |
31.370 |
0.03% |
|
04/10/2012 |
31.590 |
31.618 |
31.928 |
31.165 |
-0.09% |
|
04/09/2012 |
31.613 |
31.875 |
31.910 |
31.313 |
-0.82% |
Major Economic Events for the past week actual v. forecast
|
Apr. 09 |
CNY |
Chinese CPI (YoY) |
3.6% |
3.3% |
3.2% |
|
Apr. 10 |
USD |
Fed Chairman Bernanke Speaks |
|||
|
JPY |
Interest Rate Decision |
0.10% |
0.10% |
0.10% |
|
|
JPY |
BoJ Press Conference |
||||
|
Apr. 12 |
Trade Balance |
0.3B |
2.0B |
2.0B |
|
|
USD |
Trade Balance |
-46.0B |
-52.0B |
-52.5B |
|
|
USD |
Initial Jobless Claims |
380K |
355K |
367K |
|
|
Apr. 13 |
CNY |
Chinese GDP (YoY) |
8.1% |
8.3% |
8.9% |
|
USD |
Core CPI (MoM) |
0.2% |
0.2% |
0.1% |
|
|
USD |
CPI (MoM) |
0.3% |
0.3% |
0.4% |
Economic Highlights of the coming week that affect the US Dollar
|
Apr. 16 |
13:30 |
USD |
Core Retail Sales (MoM) |
0.6% |
0.9% |
|
13:30 |
USD |
Retail Sales (MoM) |
0.4% |
1.1% |
|
|
13:30 |
USD |
NY Empire State Manufacturing Index |
21.1 |
20.2 |
|
|
14:00 |
USD |
TIC Net Long-Term Transactions |
101.0B |
||
|
Apr. 17 |
13:30 |
USD |
Building Permits |
0.71M |
0.71M |
|
13:30 |
USD |
Housing Starts |
0.70M |
0.70M |
|
|
14:15 |
USD |
Industrial Production (MoM) |
0.5% |
Originally posted here
