By FXEmpire.com
Analysis and Recommendations:
Silver surprised investors today, moving out of sync with gold, to trade higher at 31.133 up 0.117.
US ISM surprised the markets today, with a better than expected report, the gauge of manufacturing in the U.S. climbed to 54.8% last month from 53.4% in March, the Institute for Supply Management said.
Gold was on a rollercoaster today moving up and down in small steps but holding pretty much to yesterdays prices.
Economic Reports for May 1, 2012 actual v. forecast
|
KRW |
South Korean CPI (YoY) |
2.5% |
2.8% |
2.6% |
|
KRW |
South Korean CPI (MoM) |
0.0% |
0.3% |
-0.1% |
|
CNY |
Chinese Manufacturing PMI |
53.30 |
53.60 |
53.10 |
|
AUD |
House Price Index (QoQ) |
-1.10% |
-0.50% |
-0.70% |
|
AUD |
Interest Rate Decision |
3.75% |
4.00% |
4.25% |
|
AUD |
RBA Rate Statement |
|||
|
INR |
Indian Trade Balance |
-13.9B |
-13.9B |
-15.2B |
|
DKK |
Danish Retail Sales (YoY) |
1.2% |
-0.2% |
-0.2% |
|
GBP |
Manufacturing PMI |
50.5 |
51.4 |
51.9 |
|
USD |
ISM Manufacturing Index |
54.8 |
53.0 |
53.4 |
Economic Events for May 2, 2012
12:15 USD ADP Employment Change
The Employment Change released by the Automatic Data Processing, Inc is a measure of the change in the number of employed people in the US Generally speaking; a rise in this indicator has positive implications for consumer spending which stimulates economic growth.
14:00 USD Factory Orders
The Factory orders released by the US Census Bureau is a measure of the total orders of durable and non durable goods such as shipments (sales), inventories and orders at the manufacturing level which can offer insight into inflation and growth in the manufacturing sector.
Click here to read Silver Technical Analysis.
Originally posted here
