By FXEmpire.com

Analysis and Recommendations:

Crude Oil at this writing looks to be ending the day at where it started. Crude is trading for 97.06 without any momentum at all. Disappointing and overall negative data from China today reduced global demand for oil and energy, while OPEC reported on going production demands.

This compounded with global unease, recession fears and the strength of the USD, oil is most likely going to sit in this area for a few days to come. At least until some supportive data is issued or the political situation in Europe begins to calm down. Crude has fallen from the 105.00 price to trade below 96.00 in just a week as speculators pulled out of the markets.

The drop in crude prices helped a US consumer sentiment to report much higher than expected today. Lower prices at the pumps means happier consumers.

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, which cover the current week and are published by Sunday before the new week begins. Daily as the markets close we share any new events, forecasts or analysis that affect the current day. To achieve a full accurate understanding it is important that you study all of our data and analysis as a whole. Please click on the links to find the most recent reports for this asset.

Economic Data Released May 11, 2012 actual v. forecast

GBP

Nationwide Consumer Confidence

44

52

53

CNY

Chinese CPI (YoY)

3.4%

3.3%

3.6%

CNY

Chinese PPI (YoY)

-0.7%

-0.5%

-0.3%

CNY

Chinese CPI (MoM)

-0.1%

-0.2%

0.2%

CNY

Chinese Fixed Asset Investment (YoY)

20.2%

20.5%

20.9%

CNY

Chinese Industrial Production (YoY)

9.3%

12.0%

11.9%

CNY

Chinese Retail Sales (YoY)

14.1%

15.2%

15.2%

EUR

German CPI (MoM)

0.2%

0.1%

0.1%

EUR

German CPI (YoY)

2.1%

2.0%

2.0%

GBP

PPI Input (MoM)

-1.5%

-1.0%

1.7%

GBP

PPI Input (YoY)

1.2%

1.9%

5.6%

EUR

Portuguese CPI (MoM)

0.30%

1.20%

USD

Core PPI (MoM)

0.2%

0.2%

0.3%

CAD

Employment Change

58.2K

7.0K

82.3K

USD

PPI (MoM)

-0.2%

0.0%

0.0%

CAD

Unemployment Rate

7.3%

7.0%

7.2%

USD

PPI (YoY)

1.9%

2.1%

2.8%

USD

Core PPI (YoY)

2.7%

2.8%

2.9%

USD

Michigan Consumer Sentiment

77.8

76.2

76.4

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

May 14

07:00

EUR

Finnish CPI (YoY)

2.90%

08:15

CHF

PPI (MoM)

0.3%

08:30

EUR

Dutch Retail Sales (YoY)

0.90%

10:00

EUR

Industrial Production (MoM)

-0.2%

0.5%

May 15

06:30

EUR

French CPI (MoM)

0.8%

07:45

EUR

French Non-Farm Payrolls (QoQ)

-0.1%

09:30

GBP

Trade Balance

-8.8B

May 16

09:30

GBP

Average Earnings Index +Bonus

1.1%

09:30

GBP

Claimant Count Change

3.6K

10:00

EUR

CPI (YoY)

2.6%

2.6%

10:00

EUR

Core CPI (YoY)

1.6%

11:00

EUR

Portuguese Unemployment Rate

14.00%

Originally posted here