By FXEmpire.com

Analysis and Recommendations:

Silver closed the week following gold’s lead today, as it moved up slightly to trade at 28.63 adding 0.615. Metals were the only group to show any strength today, as the day was void of eco data and thin on news and politics. It seems that investors took the time today to pick up gold and silver cheaply and there was a bit of a buying volume, otherwise the day had little volume and little excitement it was like a holiday.

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.

Eco Data for May 18, 2012 actual v. forecast

May 18

13:30

CAD

Core CPI (MoM)

0.4%

0.3%

0.3%

13:30

CAD

CPI (MoM)

0.4%

0.3%

0.4%

13:30

CAD

CPI (YoY)

2.0%

2.0%

1.9%

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

May 21

5:45

CHF

SECO Consumer Climate

-18

-19

May 22

8:30

GBP

CPI y/y

3.5%

8:30

GBP

Public Sector Net Borrowing

15.9B

8:30

GBP

RPI y/y

3.6%

TBD

GBP

BOE Inflation Letter

14:00

USD

Existing Home Sales

4.48M

May 23

8:00

EUR

Current Account

-1.3B

8:30

GBP

MPC Meeting Minutes

0-0-9

TBD

EUR

Industrial New Orders m/m

-1.2%

10:00

GBP

CBI Industrial Order Expectations

-8

TBD

GBP

Inflation Report Hearings

14:00

USD

New Home Sales

328K

14:30

USD

Crude Oil Inventories

May 24

6:00

CHF

Trade Balance

1.69B

7:00

EUR

French Flash Manufacturing PMI

46.9

7:00

EUR

French Flash Services PMI

45.2

7:30

EUR

German Flash Manufacturing PMI

46.2

7:30

EUR

German Flash Services PMI

52.2

8:00

EUR

German Ifo Business Climate

109.9

8:00

EUR

Flash Manufacturing PMI

45.9

8:00

EUR

Flash Services PMI

46.9

8:30

GBP

Retail Sales m/m

1.8%

8:30

GBP

Revised GDP q/q

-0.2%

8:30

GBP

BBA Mortgage Approvals

31.9K

8:30

GBP

Prelim Business Investment q/q

-3.3%

12:30

USD

Unemployment Claims

12:30

USD

Durable Goods Orders m/m

-4.0%

13:00

EUR

Belgium NBB Business Climate

-10.7

May 25

6:00

EUR

GfK German Consumer Climate

5.6

7:15

CHF

Employment Level

4.04M

TBD

ALL

G8 Meetings

13:55

USD

Revised UoM Consumer Sentiment

Government Bond Auctions (this week)

Date Time Country

May 21 09:10 Norway

May 21 09:30 Germany

May 21 10:00 Belgium

May 22 08:30 Holland

May 22 08:30 Spain

May 22 17:00 US

May 23 09:10 Sweden

May 23 09:30 Germany

May 23 14:30 Sweden

May 23 17:00 US

May 24 15:30 Italy

May 24 17:00 US

May 25 15:30 Italy

Click here for further Silver Forecast.

Originally posted here