By FXEmpire.com
Analysis and Recommendations:
Silver did not fare as well as gold did in today’s trading, losing over 0.13 to trade at 28.33. In early trading silver followed cue from gold and moved up but the initial gains due to the news of the Spanish bailout, may not remain intact throughout the day as they still not mentioned the way to disburse the loan. In absence of any economic releases from the globe and doubt over the funds may keep market under pressure ahead of Greece re-election on June-17.
Taking cues from fall in gold prices coupled with mixed performance in base metals, Spot silver also declined by 0.6 percent in last week. However, weakness in the DX restricted further downside in the silver prices.
On a weekly basis, holdings in the iShares Silver Trust, the world’s largest silver-backed exchange-traded fund, increased around 0.3 percent to 9,643.17 tons on 1st June 2012 from the previous level of 9,669.08 tons on 8thJune 2012.
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 June 9-10-11, 2012 actual v. forecast ( today was very lite for all of Europe and the US. The Chinese Eco data, had the most effects on the markets )
|
Jun. 09 |
CNY |
Chinese CPI (YoY) |
3.0% |
3.2% |
3.4% |
|
|
CNY |
Chinese PPI (YoY) |
-1.4% |
-1.1% |
-0.7% |
||
|
CNY |
Chinese CPI (MoM) |
-0.3% |
-0.1% |
-0.1% |
||
|
CNY |
Chinese Fixed Asset Investment (YoY) |
20.1% |
20.0% |
20.2% |
||
|
CNY |
Chinese Industrial Production (YoY) |
9.6% |
9.9% |
9.3% |
||
|
CNY |
Chinese Retail Sales (YoY) |
13.8% |
14.3% |
14.1% |
||
|
Jun. 10 |
CNY |
Chinese Trade Balance |
18.70B |
16.30B |
18.40B |
|
|
Jun. 11 |
JPY |
BSI Large Manufacturing Conditions |
-5.7 |
-2.4 |
-7.3 |
|
Upcoming Economic Events that affect the CHF, EUR, GBP and USD
|
Date |
Time |
Currency |
Event |
Forecast |
Previous |
|
Jun 12 |
5:45 |
CHF |
|||
|
8:30 |
GBP |
0.9% |
|||
|
12:30 |
USD |
-0.5% |
|||
|
14:00 |
GBP |
0.1% |
|||
|
18:00 |
USD |
59.1B |
|||
|
Jun 13 |
7:15 |
CHF |
-0.1% |
||
|
9:00 |
EUR |
-0.3% |
|||
|
12:30 |
USD |
-0.2% |
|||
|
12:30 |
USD |
0.1% |
|||
|
14:00 |
USD |
0.3% |
|||
|
14:30 |
USD |
-0.1M |
|||
|
Jun 14 |
7:30 |
CHF |
|
|
|
|
7:30 |
CHF |
||||
|
7:30 |
CHF |
||||
|
8:00 |
CHF |
||||
|
8:00 |
EUR |
||||
|
9:00 |
EUR |
2.4% |
|||
|
12:30 |
USD |
377K |
|||
|
12:30 |
USD |
0.0% |
|||
|
12:30 |
USD |
-124B |
|||
|
Jun 15 |
8:30 |
GBP |
-8.6B |
||
|
12:30 |
USD |
17.1 |
|||
|
13:00 |
USD |
36.2B |
|||
|
13:15 |
USD |
79.2% |
|||
|
13:15 |
USD |
1.1% |
|||
|
13:55 |
USD |
79.3 |
Click here a current Silver Chart.
Originally posted here
