By FXEmpire.com
Analysis and Recommendations:
Silver followed gold on the tumble trading at 27.453 down 3.30% in today’s session.
In case of silver, the concerns are more than that in case of gold as on one hand, the global economy is witnessing a host of issues, due to which demand for industrial metals could take a hit; while on the other hand, its presence as a precious metal is not allowing further downside in prices. But net-net, its movement on either side is largely restricted and this barrier would only open up when uncertainties regarding the European economic crisis ease.
We are about to enter the second-half of the year and the status of the global financial markets is getting worse in terms of risk appetite. Investors are getting more cautious about entering into gold and are now opting for other investment options. News doing rounds also indicate that investor interest has emerged in case of platinum, as gold and silver witness an irregular performance against the current macroeconomic scenario.
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 June 21, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Jun. 21 |
CNY |
Chinese HSBC Manufacturing PMI |
48.10 |
48.40 |
|
|
EUR |
French Manufacturing PMI |
45.3 |
44.5 |
44.7 |
|
|
EUR |
German Manufacturing PMI |
44.7 |
45.2 |
45.2 |
|
|
EUR |
Manufacturing PMI |
44.8 |
44.9 |
45.1 |
|
|
GBP |
Retail Sales (MoM) |
1.4% |
1.2% |
-2.4% |
|
|
GBP |
Retail Sales (YoY) |
2.4% |
2.0% |
-1.1% |
|
|
GBP |
CBI Industrial Trends Orders |
-11 |
-20 |
-17 |
|
|
Core Retail Sales (MoM) |
-0.3% |
0.2% |
0.3% |
||
|
CAD |
Retail Sales (MoM) |
-0.5% |
0.3% |
0.4% |
|
|
USD |
Initial Jobless Claims |
387K |
380K |
389K |
|
|
USD |
Continuing Jobless Claims |
3299K |
3275K |
3299K |
Upcoming Economic Events that affect the CHF, EUR, GBP and USD
|
Date |
Time |
Currency |
Event |
Forecast |
Previous |
|
Jun 22 |
8:00 |
EUR |
106.9 |
||
|
All Day |
EUR |
||||
|
13:00 |
EUR |
-11.2 |
Upcoming Government Bond Auctions
Date Time Country
Jun 22 15:30 Italy
Jun 25 09:10 Norway
Jun 25 09:30 Germany
Jun 25 10:00 Belgium
Jun 25 15:30 Italy
Jun 26 00:30 Japan
Click here to read Silver Technical Analysis.
Originally posted here
