By FXEmpire.com

Analysis and Recommendations:

Crude Oil is trading at 95.90 staying pretty close to the 96.00 price from Friday. There is little in the way of supportive data, news flow and political turmoil are quiet today after Friday’s Hezbollah and Iranian responses to Israel’s rhetoric.

Rumors of the release of strategic reserves had little effect on prices as traders remain hopefully of stimulus from China and on positive eco data from the US last week.

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 August 20, 2012 actual v. forecast

A very lite day

Aug. 16

NZD

PPI Input (QoQ)

0.6%

-0.2%

0.3%

Aug. 17

USD

Michigan Consumer Sentiment

73.6

72.4

72.3

Aug. 20

GBP

Rightmove House Price Index (MoM)

-2.4%

-1.7%

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

Aug 22

14:00

USD

Existing Home Sales

4.37M

14:30

USD

Crude Oil Inventories

-3.7M

18:00

USD

FOMC Meeting Minutes

Aug 23

6:00

CHF

Trade Balance

2.25B

7:00

EUR

French Flash Manufacturing PMI

43.4

7:00

EUR

French Flash Services PMI

50.0

7:30

EUR

German Flash Manufacturing PMI

43.0

7:30

EUR

German Flash Services PMI

50.3

8:00

EUR

Flash Manufacturing PMI

44.0

8:00

EUR

Flash Services PMI

47.9

8:30

GBP

BBA Mortgage Approvals

26.3K

10:00

GBP

CBI Realized Sales

11

12:30

USD

Unemployment Claims

366K

13:00

USD

Flash Manufacturing PMI

51.4

14:00

USD

New Home Sales

350K

Click here for updated Crude Oil News.

Originally posted here