Silver Fundamental Analysis June 5, 2012, Forecast

By FXEmpire.com

Analysis and Recommendations:

Silver marched to its own drummer today, moving up to 28.313 or +0.199. Silver futures prices climbed slightly at the early session pressurized drop in the USD, tracing cues from the shattered US and European equities and a disastrous jobs data from the US. As discussed in gold’s outlook, market will be waiting for the meeting between EU commission president and the German chancellor for bank recapitalization amid Spain’s urge for a joint effort to safeguard the banking sector.

The euro rebounded a bit and hence silver was able to climb. But, as proved earlier, silver too to follow the gold’s rally following from the haven demand and we therefore expect silver to revive during the week. The eurozone investor confidence remained weak while the producer price reduced a bit.

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 DATE, 2012 actual v. forecast (virtually no eco data in Europe or the US today)

Date	Currency	Event	Actual	Forecast	Previous
Jun. 04	JPY	Monetary Base (YoY)	2.4%	0.2%	-0.3%
AUD	MI Inflation Gauge (MoM)	0.0%	0.3%
AUD	Company Gross Profits (QoQ)	-4.0%	-2.0%	-6.5%
AUD	ANZ Job Advertisements (MoM)	-2.40%	-0.80%

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

Date	Time	Currency	Forecast	Previous
Jun 5	9:00	EUR	Retail Sales m/m	0.3%
	10:00	EUR	German Factory Orders m/m	2.2%
	14:00	USD	ISM Non-Manufacturing PMI	53.5
Jun 6	6th-8th	GBP	Halifax HPI m/m
	8:30	GBP	Construction PMI	55.8
	10:00	EUR	German Industrial Production m/m	2.8%
	11:45	EUR	Minimum Bid Rate	1.00%	1.00%
	12:30	EUR	ECB Press Conference
	12:30	USD	Revised Nonfarm Productivity q/q	-0.5%
	14:30	USD	Crude Oil Inventories
	18:00	USD	Beige Book
	23:01	GBP	BRC Retail Sales Monitor y/y	-3.3%
Jun 7	7:00	CHF	Foreign Currency Reserves	235.6B
	7:15	CHF	CPI m/m	0.1%
	8:30	GBP	Services PMI	53.3
	TBD	EUR	French 10-y Bond Auction
	11:00	GBP	Asset Purchase Facility	325B
	11:00	GBP	Official Bank Rate	0.50%	0.50%
	TBD	GBP	MPC Rate Statement
	12:30	USD	Unemployment Claims	383K
	14:00	USD	Fed Chairman Bernanke Testifies
Jun 8	8:30	GBP	PPI Input m/m	-1.5%
	8:30	GBP	Consumer Inflation Expectations	3.5%
	TBD	GBP	10-y Bond Auction
	12:30	USD	Trade Balance	-51.8B
	14:00	USD	Fed Chairman Bernanke Testifies

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Originally posted here