By FXEmpire.com
Analysis and Recommendations:
Crude Oil is trading down at 82.91. It should be noted that there is one important event still to come, but not until late in the day and that is the FOMC announcement and address by Chairman Bernanke.
The EIA inventory, surprised markets today as investors thought that we would see higher consumption and a drop in supply. The release today stated:
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 2.9 million barrels from the previous week. At 387.3 million barrels, U.S. crude oil inventories are above the upper limit of the average range for this time of year. Total motor gasoline inventories increased by 0.9 million barrels last week and are in the lower limit of the average range. Both finished gasoline inventories and blending components inventories increased last week. Total commercial petroleum inventories increased by 11.1 million barrels 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 for June 20, 2012 actual. v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
JPY |
Trade Balance |
-0.66T |
-0.36T |
-0.51T |
|
|
GBP |
Average Earnings Index +Bonus |
1.4% |
0.8% |
0.9% |
|
|
GBP |
Claimant Count Change |
8.1K |
-3.0K |
-12.8K |
|
|
USD |
Interest Rate Decision |
0.25% |
0.25% |
||
|
USD |
FOMC Statement |
||||
|
USD |
Fed Chairman Bernanke Speaks |
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 |
Forecast |
Previous |
|
Jun 21 |
6:00 |
CHF |
1.33B |
||
|
7:00 |
EUR |
44.7 |
|||
|
7:00 |
EUR |
45.1 |
|||
|
7:15 |
CHF |
7.9% |
|||
|
7:30 |
EUR |
45.2 |
|||
|
7:30 |
EUR |
51.8 |
|||
|
8:00 |
EUR |
9.1B |
|||
|
8:00 |
EUR |
45.1 |
|||
|
8:00 |
EUR |
46.7 |
|||
|
8:30 |
GBP |
-2.3% |
|||
|
10:00 |
GBP |
-17 |
|||
|
12:30 |
USD |
386K |
|||
|
13:00 |
USD |
54.0 |
|||
|
14:00 |
USD |
4.62M |
|||
|
14:00 |
USD |
-5.8 |
|||
|
Jun 22 |
8:00 |
EUR |
106.9 |
||
|
All Day |
EUR |
||||
|
13:00 |
EUR |
-11.2 |
Upcoming Government Bond Auctions
Date Time Country
Jun 21 08:30 Spain
Jun 21 08:50 France
Jun 21 09:30 UK
Jun 21 09:50 France
Jun 21 15:00 US
Jun 21 17:00 US
Jun 22 15:30 Italy
Jun 25 09:10 Norway
Jun 25 09:30 Germany
Jun 25 10:00 Belgium
Jun 25 15:30 Italy
Jun 26 00:30 Japan
Jun 26 08:30 Holland
Jun 26 08:30 Spain
Jun 26 09:10 Italy
Jun 26 09:30 UK
Jun 26 14:30 UK
Jun 26 17:00 US
Click here to read Crude Oil Technical Analysis.
Originally posted here
