By FXEmpire.com
Analysis and Recommendations:
Silver is trading at 29.20 down for the day, silver did not follow gold today but the two bounced between small gains and small losses. The metal family along with most commodities did not fare well as the US was able to continue to maintain strength and risk aversion was the word of the day.
There are no independent fundamentals for silver and no reason that silver has diverged from gold and fallen more, but perhaps in the morning session it will rebound to catch up with gold.
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, which cover the current week and are published by Sunday before the new week begins. Daily as the markets close we share any new events, forecasts or analysis that affect the current day. To achieve a full accurate understanding it is important that you study all of our data and analysis as a whole. Please click on the links to find the most recent reports for this asset.
Economic Data for May 10, 2012 actual v. forecast
|
JPY |
Adjusted Current Account |
0.79T |
0.65T |
0.86T |
|
KRW |
South Korean Interest Rate Decision |
3.25% |
3.25% |
3.25% |
|
AUD |
Employment Change |
15.5K |
-5.5K |
44.0K |
|
AUD |
Unemployment Rate |
4.9% |
5.3% |
5.2% |
|
CNY |
Chinese Trade Balance |
18.40B |
8.50B |
5.35B |
|
GBP |
Industrial Production (MoM) |
-0.3% |
-0.3% |
0.4% |
|
GBP |
Manufacturing Production (MoM) |
0.9% |
0.5% |
-1.1% |
|
GBP |
Industrial Production (YoY) |
-2.6% |
-2.6% |
-2.3% |
|
GBP |
Interest Rate Decision |
0.50% |
0.50% |
0.50% |
|
GBP |
BOE QE Total |
325B |
325B |
325B |
|
USD |
Import Price Index (MoM) |
-0.5% |
-0.2% |
1.5% |
|
Trade Balance |
0.4B |
1.0B |
0.3B |
|
|
USD |
Trade Balance |
-51.8B |
-50.0B |
-45.4B |
|
USD |
Initial Jobless Claims |
367K |
369K |
368K |
|
USD |
Continuing Jobless Claims |
3229K |
3278K |
3290K |
|
GBP |
NIESR GDP Estimate |
0.1% |
-0.2% |
|
|
USD |
Federal Budget Balance |
30.0B |
-198.2B |
Upcoming Economic Events that affect the CHF,EUR, GBP and USD
|
May 11 |
00:01 |
GBP |
53 |
|
|
07:00 |
EUR |
0.1% |
0.1% |
|
|
09:30 |
GBP |
-1.0% |
1.9% |
|
|
10:00 |
EUR |
1.20% |
||
|
13:30 |
USD |
0.3% |
||
|
13:30 |
USD |
0.0% |
||
|
14:55 |
USD |
76.4 |
Click here for updated Silver News.
Originally posted here
