Silver Fundamental Analysis July 4, 2012, Forecast

By FXEmpire.com

Analysis and Recommendations:

Silver is trading at 28.010 adding 0.51 today, benefiting from its precious metal status as well as part of the medals pack, which both moved up. Markets will close early today and US markets are closed on Wednesday for the 4th of July Independence Day celebrations. There will be very light volume for the rest of the week.

Anticipation regarding ECB reducing interest rate would be keeping the market sentiment buoyed. Even, shrinking in global manufacturing especially the US ISM number sinking below 50 indicated severe weaknesses for the economy. Once again that optimism for Fed easing has heightened. Silver therefore may be demanded as haven along with gold. Reports today may also indicate the Euro area PPI is cooling and thereby proving space to ECB to cut its mainframe interest rate which would be supportive for metals

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 Releases actual v. forecast July 3, 2012 ( today was almost void of eco data )

Jul. 03	AUD	Building Approvals (MoM)	27.3%	5.1%	-7.6%
AUD	Interest Rate Decision	3.50%	3.50%	3.50%

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

Date	Time	Currency	Event	Forecast	Previous
Jul 4 Jul 5	8:00	EUR	Final Services PMI	46.8	46.8
	8:30	GBP	Services PMI	53.0	53.3
	9:00	EUR	Retail Sales m/m	0.2%	-1.0%
	10:00	EUR	German Factory Orders m/m	0.2%	-1.9%
	11:00	GBP	Official Bank Rate	0.50%	0.50%
	11:45	EUR	Minimum Bid Rate	0.75%	1.00%
	12:15	USD	ADP Non-Farm Employment Change	101K	133K
	12:30	USD	Unemployment Claims	385K	386K
	14:00	USD	ISM Non-Manufacturing PMI	53.1	53.7
	15:00	USD	Crude Oil Inventories	-0.1M
Jul 6	7:00	CHF	Foreign Currency Reserves	303.8B
	7:15	CHF	CPI m/m	-0.3%	0.0%
	8:30	GBP	PPI Input m/m	-2.1%	-2.5%
	10:00	EUR	German Industrial Production m/m	0.3%	-2.2%
	12:30	USD	Non-Farm Employment Change	92K	69K
	12:30	USD	Unemployment Rate	8.2%	8.2%

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Originally posted here