By FXEmpire.com

Analysis and Recommendations:

Silver had a strong day, adding 0.182 to trade at 28.045. Industrial metals were strong in today’s session.

Gold and silver were seen trading in thin ranges as attempts to inch higher in tandem with the international market were supported by the weakened greenback. Meanwhile, base metals were seen paring its earlier losses in LME as investors await the Chinese industrial numbers slated for release on Thursday for fresh leads to assess the economic condition in the top consumer. Hopes of ECB action lend support, limiting losses. Tracking the rebound in the international market, base metals moved to a greener turf following initial losses.

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 August 7, 2012 actual v. forecast

Date

Currency

Event

Actual

Forecast

Previous

Aug. 07

AUD

Interest Rate Decision

3.50%

3.50%

3.50%

AUD

RBA Rate Statement

CHF

Unemployment Rate

2.9%

2.9%

2.9%

CHF

CPI (MoM)

-0.5%

-0.6%

-0.3%

GBP

Industrial Production (MoM)

-2.5%

-3.4%

1.0%

GBP

Manufacturing Production (MoM)

-2.9%

-4.1%

1.2%

GBP

Industrial Production (YoY)

-4.3%

-5.0%

-1.8%

EUR

German Factory Orders (MoM)

-1.7%

-1.0%

0.7%

CAD

Building Permits (MoM)

-2.5%

-4.0%

7.1%

Upcoming Economic Events that affect the CHF, EUR, GBP and USD

Date

Time

Currency

Event

Previous

Aug 8

5:45

CHF

SECO Consumer Climate

-8

9:30

GBP

BOE Inflation Report

10:00

EUR

German Industrial Production m/m

1.6%

12:30

USD

Prelim Nonfarm Productivity q/q

-0.9%

12:30

USD

Prelim Unit Labor Costs q/q

1.3%

14:30

USD

Crude Oil Inventories

Aug 9

8:00

EUR

ECB Monthly Bulletin

8:30

GBP

Trade Balance

-8.4B

12:30

USD

Trade Balance

-48.7B

12:30

USD

Unemployment Claims

Aug 10

6:45

EUR

French Industrial Production m/m

-1.9%

8:30

GBP

PPI Input m/m

-2.2%

12:30

USD

Import Prices m/m

-2.7%

18:00

USD

Federal Budget Balance

-59.7B

Government Bond Auctions

Date Time Country

Aug 08 09:30 Germany

Aug 08 10:00 Norway

Aug 08 15:30 Italy

Aug 08 17:00 US

Aug 09 15:30 Italy

Aug 09 17:00 US

Aug 10 10:00 Belgium

Aug 13 09:10 Italy

Aug 13 09:10 Norway

Aug 13 09:30 Germany

Click here to read Silver Technical Analysis.

Originally posted here