By FXEmpire.com
Analysis and Recommendations:
Crude Oil is trading at 82.75, as commodities traded in narrow ranges as investors and traders chose to remain on the sidelines prior to key events including the election in Greece, FOMC rate decision and G20 meeting. Amidst simmering euro zone debt crisis, economic indicators from the US have been pointing towards softening economic growth in the world’s largest economy. Spain’s 10 year bond yields hit a euro-era record of seven per cent and rise in Italian bond yields fueled further worries over the worsening financial health in euro area sending Euro down. Spot gold traded mostly steady, sustaining previous session gains. Lingering economic woes attracted safe haven buying in the precious metal. However, euro turning red after some positive moves in early trades weighed on. Tracking the international market, bullion traded steady in MCX and weaker rupee supported the sentiments too. Base metals were up in LME and Shanghai though, bleak economic outlook capped gains. Investors remained guarded ahead of the elections in Greece on Sunday, which may probably determine whether the country will stay in Euro Zone. On the MCX, base metals followed a mixed trend. Nickel moved to negative territory during the afternoon trades while, the other metals clinched on to the greener side. Crude oil traded mostly steady with a mild negative bias ahead of the Organization of Petroleum Exporting Countries meeting in Vienna later today.
US eco data reported negative results today, also depressing the crude market, with worries about the US economic recovery.
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 June 14, 2012 actual v. forecast
|
Date |
Time |
Event |
Actual |
Forecast |
Previous |
|
Jun. 14 |
05:30 |
Industrial Production (MoM) |
-0.2% |
0.2% |
0.2% |
|
08:30 |
Interest Rate Decision |
0.00% |
0.00% |
0.00% |
|
|
08:30 |
SNB Chairman Thomas Jordan speaks |
||||
|
09:00 |
ECB Monthly Report |
||||
|
10:00 |
CPI (YoY) |
2.4% |
2.4% |
2.4% |
|
|
10:00 |
Core CPI (YoY) |
1.6% |
1.6% |
1.6% |
|
|
13:30 |
Core CPI (MoM) |
0.2% |
0.2% |
0.2% |
|
|
13:30 |
CPI (MoM) |
-0.3% |
-0.2% |
0.0% |
|
|
13:30 |
Current Account |
-137.3B |
-132.3B |
-118.7B |
|
|
13:30 |
Initial Jobless Claims |
386K |
375K |
380K |
|
|
13:30 |
Continuing Jobless Claims |
3278K |
3269K |
3311K |
|
|
13:30 |
CPI (YoY) |
1.7% |
1.8% |
2.3% |
|
|
13:30 |
Core CPI (YoY) |
2.3% |
2.2% |
2.3% |
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 |
|
Jun 15 |
8:30 |
GBP |
-8.6B |
|
|
12:30 |
USD |
17.1 |
||
|
13:00 |
USD |
36.2B |
||
|
13:15 |
USD |
79.2% |
||
|
13:15 |
USD |
1.1% |
||
|
13:55 |
USD |
79.3 |
Click here for further Crude Oil Forecast.
Originally posted here
