By FXEmpire.com
Analysis and Recommendations:
Silver is simply following the piper, marching behind gold today, tracking its every move. Silver is trading at 31.325 up 0.049. Gold is up in today’s session trading at 1665.35. Both metals were slightly up in early trading, but once the US GDP was released well under forecast, investors quickly moved from the US to the metals.
Economic Data for April 27, 2012 actual. v. forecast
|
JPY |
Unemployment Rate |
4.5% |
4.5% |
4.5% |
|
JPY |
Tokyo Core CPI (YoY) |
-0.5% |
-0.4% |
-0.3% |
|
JPY |
Industrial Production (MoM) |
1.0% |
2.4% |
-1.6% |
|
JPY |
Retail Sales (YoY) |
10.3% |
9.8% |
3.4% |
|
JPY |
Interest Rate Decision |
0.10% |
0.10% |
0.10% |
|
EUR |
GfK German Consumer Climate |
5.6 |
5.9 |
5.8 |
|
EUR |
French Consumer Spending (MoM) |
-2.9% |
-1.9% |
2.9% |
|
CHF |
KOF Leading Indicators |
0.40 |
0.26 |
0.09 |
|
EUR |
Italian 10-Year BTP Auction |
5.84% |
5.57% |
|
|
USD |
Employment Cost Index (QoQ) |
0.4% |
0.5% |
0.5% |
|
USD |
GDP Price Index (QoQ) |
1.5% |
2.0% |
0.8% |
|
USD |
GDP (QoQ) |
2.2% |
2.5% |
3.0% |
Economic Events for April 30, 2012 for the European and US Markets
13:30 USD Core PCE Price Index 0.2% 0.1%
The Core Personal Consumption spending (PCE) Price Index measures the changes in the price of goods and services purchased by consumers for the purpose of consumption, excluding food and energy. Prices are weighted according to total expenditure per item. It measures price change from the perspective of the consumer. It is a key way to measure changes in purchasing trends and inflation.
14:45 USD Chicago PMI 61.8 62.2
The Chicago Purchasing Managers’ Index (PMI) determines the economic health of the manufacturing sector in Chicago region. A reading above 50 indicates expansion of the manufacturing sector; a reading below indicates contraction. The Chicago PMI can be of some help in forecasting the ISM manufacturing PMI.
Government Bond Auctions (this week)
May 01 09:30 UK Auctions 4.5% 2042 Conventional Gilt
May 02 09:10 Sweden Nominal bond auction
May 02 09:30 Portugal Eur 1.25-1.5bn new Nov 2012 & new May 2013 T-bills
May 02 13:00 3Y Notes on May 08, 10Y Notes on May 09 & 30Y Bonds on May 10
May 02 14:30 Sweden Details T-bill auction on May 09
May 03 08:30 Spain Bono auction
May 03 08:50 France OAT auction
Click here to read Silver Technical Analysis.
Originally posted here
