By FXEmpire.com
Analysis and Recommendations:
Silver added 0.293 to trade at 27.388 following on the heels of gold as industrial metals and precious metals witnessed gain on more positive attitudes. Base metals rose in LME as well as in Shanghai. LME copper gained the most in the base metal complex, rising around one per cent. Apart from an upbeat economic indicator from the US, expectation of aggressive monetary easing from China lifted prices. However, persisting worries over Euro Zone debt crisis capped gains.
Comments by the German Chancellor that the solution to the bloc’s problem was not yet in sight made investors to remain at guard. Tracking gains in the international market, base metal complex in MCX too edged higher.
With the US dollar weakened on poor eco data and negative comments from Fed Chairman Bernanke, silver was able to enjoy a weakness.
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 July 19, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Jul. 19 |
AUD |
NAB Quarterly Business Confidence |
-2.00 |
-1.00 |
|
|
GBP |
Retail Sales (MoM) |
0.1% |
0.6% |
1.5% |
|
|
GBP |
Retail Sales (YoY) |
1.6% |
2.4% |
2.1% |
|
|
USD |
Initial Jobless Claims |
386K |
365K |
352K |
|
|
Wholesale Sales (MoM) |
0.9% |
0.2% |
1.2% |
||
|
USD |
Continuing Jobless Claims |
3314K |
3299K |
3313K |
Upcoming Economic Events that affect the CHF, EUR, GBP and USD
|
Date |
Time |
Currency |
Event |
Previous |
|
Jul 20 |
6:00 |
EUR |
-0.3% |
|
|
8:30 |
GBP |
15.6B |
Government Bond Auctions
Date Time Country
Jul 23- n/a UK
Jul 23 09:30 Germany
Jul 24 08:30 Netherlands
Jul 24 08:30 Spain
Jul 24 15:30 Italy
Jul 24 17:00 US
Jul 25 09:30 Germany
Jul 25 15:30 Italy
Jul 25 17:00 US
Jul 26 00:30 Japan
Jul 26 09:10 Italy
Jul 27 09:10 Italy
Jul 27 17:00 US
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Originally posted here
