By FXEmpire.com
Analysis and Recommendations:
Crude Oil will end the month close to 80.44, Nymex crude oil prices gained by more than 3 percent today on the back of supply concerns from Iran as European Union will put embargo on imports of crude oil from 1st July coupled with expectations that European measures will increase demand for the crude oil. Additionally, a weaker DX also helped upside in the prices.
With embargo on Iranian crude oil approaching on July 1st, crude investor would be zealously following developments in this regard. With Chinese economic growth story fading in the midst of distress numbers, hard landing for the World’s second largest economy could become imminent in coming days.
But for today, speculators are hailing the statements released by the EU Finance Ministers on their comprehensive plan to deal with the EU Financial crisis immediately. The plan will be effective on July 9, 2012, showing that the EU Ministers realized just how dire the situation is and the need for immediate action.
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 29, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
JPY |
Unemployment Rate |
4.4% |
4.6% |
4.6% |
|
|
JPY |
Tokyo Core CPI (YoY) |
-0.6% |
-0.7% |
-0.8% |
|
|
JPY |
Industrial Production (MoM) |
-3.1% |
-2.8% |
-0.2% |
|
|
EUR |
French GDP (QoQ) |
0.0% |
0.0% |
0.0% |
|
|
EUR |
French Consumer Spending (MoM) |
0.4% |
-0.1% |
0.7% |
|
|
CHF |
KOF Leading Indicators |
1.16 |
0.85 |
0.80 |
|
|
NOK |
Norwegian Core Retail Sales (MoM) |
1.70% |
0.50% |
-0.20% |
|
|
EUR |
CPI (YoY) |
2.4% |
2.4% |
2.4% |
|
|
USD |
Core PCE Price Index (MoM) |
0.1% |
0.2% |
0.1% |
|
|
GDP (MoM) |
0.3% |
0.2% |
0.1% |
||
|
USD |
Personal Spending (MoM) |
0.0% |
0.1% |
0.1% |
|
|
USD |
Chicago PMI |
NR |
52.5 |
52.7 |
|
|
USD |
Michigan Consumer Sentiment |
NR |
74.1 |
74.1 |
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 for Monday July 2, 2012
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
JPY |
Tankan Large Manufacturers Index |
-4 |
-4 |
||
|
CHF |
Retail Sales (YoY) |
4.5% |
0.1% |
||
|
CHF |
SVME PMI |
45.0 |
45.4 |
||
|
EUR |
Unemployment Rate |
11.1% |
11.0% |
||
|
USD |
ISM Manufacturing Index |
52.5 |
53.5 |
Click here to read Crude Oil Technical Analysis.
Originally posted here
