By FXEmpire.com

Analysis and Recommendations:

Silver is trading at 28.358 adding 0.351. In today’s session, gold had little direction and clung close to its 1615-1620 range, while silver was able to break out and trade up almost 1.35% in a remarkable day of trading. Whereas gold only added 0.13%

Markets perked up after the release of the Institute for Supply Management’s non-manufacturing survey results for May the US dollar remained weak against its major opponents. The Institute for Supply Management’s index of nonmanufacturing businesses rose to 53.7% in May from 53.5% in April.

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 for June 5, 2012 actual v. forecast

Date

Currency

Event

Actual

Forecast

Previous

Jun. 05

AUD

Current Account

-14.9B

-14.8B

-9.6B

AUD

Interest Rate Decision

3.50%

3.75%

3.75%

EUR

Retail Sales (MoM)

-1.0%

-0.1%

0.3%

EUR

German Factory Orders (MoM)

-1.9%

-1.0%

3.2%

CAD

Building Permits (MoM)

-5.2%

-2.0%

4.9%

CAD

Interest Rate Decision

1.00%

1.00%

1.00%

USD

ISM Non-Manufacturing Index

53.7

53.5

53.5

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

Date

Time

Currency

Event

Forecast

Previous

Jun 6

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

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

11:00

GBP

Asset Purchase Facility

325B

11:00

GBP

Official Bank Rate

0.50%

0.50%

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%

12:30

USD

Trade Balance

-51.8B

14:00

USD

Fed Chairman Bernanke Testifies

Government Bond Auctions

Date Time Country

Jun 06 09:30 Germany

Jun 06 09:30 Portugal

Jun 06 14:30 UK

Jun 07 00:30 Japan

Jun 07 08:30 Spain

Jun 07 08:50 France

Jun 07 09:10 Sweden

Jun 07 15:00 US

Jun 08 10:00 Belgium

Jun 08 15:30 Italy

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Originally posted here