By FXEmpire.com

Analysis and Recommendations:

Silver is trading at 27.32, as precious metals traded little changed today, retaining gains from the previous session clocked up after China’s growth data came in on target and eased worries about worsening economic conditions, feeding risk appetite and boosting the euro.

Industrial metals edged down today after hitting a one-week high in the prior session as surging agricultural futures drew some buying power away from base metals, but expectations of further stimulus from China helped put a floor under prices.

Markets are also expecting the official release of the IMF global growth forecast which is weighing on industrial metals as the IMF is expected to adjust the 2012 growth rate downwards.

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 Releases for Monday, July 16, 2012 actual v. forecast

Date

Currency

Event

Actual

Forecast

Previous

Jul. 16

GBP

Rightmove House Price Index (MoM)

-1.7%

1.0%

EUR

CPI (YoY)

2.4%

2.4%

2.4%

EUR

Core CPI (YoY)

1.6%

1.6%

1.6%

USD

Core Retail Sales (MoM)

-0.4%

0.1%

-0.4%

CAD

Foreign Securities Purchases

26.11B

13.50B

10.16B

USD

Retail Sales (MoM)

-0.5%

0.2%

-0.2%

USD

NY Empire State Manufacturing Index

7.4

4.0

2.3

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

Date

Time

Currency

Event

Previous

Jul 17

8:30

GBP

CPI y/y

2.8%

9:00

EUR

German ZEW Economic Sentiment

-16.9

9:15

ALL

G7 Meetings

12:30

USD

CPI m/m

-0.3%

13:00

USD

TIC Long-Term Purchases

25.6B

13:15

USD

Industrial Production m/m

-0.1%

Jul 18

8:30

GBP

Claimant Count Change

8.1K

8:30

GBP

Unemployment Rate

8.2%

9:00

CHF

ZEW Economic Expectations

-43.4

12:30

USD

Building Permits

0.78M

12:30

USD

Housing Starts

0.71M

14:30

USD

Crude Oil Inventories

-4.7M

Jul 19

6:00

CHF

Trade Balance

2.48B

8:00

EUR

Current Account

4.6B

8:30

GBP

Retail Sales m/m

1.4%

12:30

USD

Unemployment Claims

14:00

USD

Existing Home Sales

4.55M

14:00

USD

Philly Fed Manufacturing Index

-16.6

Jul 20

6:00

EUR

German PPI m/m

-0.3%

8:30

GBP

Public Sector Net Borrowing

15.6B

Upcoming Government Bond Auctions

Date Time Country Auction

Jul 17 08:30 Spain Eur 2.5-3.5bn Jul 2013 (12M) & Dec 2013 (18M) T-bills

Jul 17 09:10 Greece Eur 1.25bn Oct 2012 (3M) T-bills

Jul 17 09:30 Belg Up to Eur 3.0bn Oct 2012 (3M) & Jul 2013 (12M) T-bills

Jul 17 10:00 EFSF Up to Eur 1.5bn Jan 2013 (6M) T-bills

Jul 18 09:30 Ger Eur 5.0bn 0.00% Jun 2014 Schatz

Jul 18 09:30 Port Eur 1.75-2.0bn new Jan 2013 (6M) & new Jul 2013 (12M)

Jul 19 00:30 Japan Auctions 5Y JGBs

Jul 19 08:30 Spain Eur 2.0-3.0bn 3.3% Oct 2014 Bono, 5.5% Jul 2017 &

Jul 19 08:50 France Eur 8.0-9.0bn 2.5% Jan 2015, 2.5% Jul 2016 & new 1.0%

Jul 19 09:30 UK GBP 1.75bn 3.75% Jul 2052 Gilt

Jul 19 09:50 France Eur 1.0-1.5bn 1.3% Jul 2019 OATi,

Jul 19 17:00 US USD 15.0bn 10Y Tips

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Originally posted here