By FXEmpire.com
Analysis and Recommendations:
Silver will close out the week at 28.29 having a strong day, adding 0.133. Silver continued to trade in gold’s shadow but was also influenced by the overall metal pack, which did well today.
The base metals complex traded on a positive note on the back of weakness in the DX coupled with decline in early trading on miss-statements from Italian Prime Minister Monti, who was quickly and harshly corrected by Chancellor Merkel. The euro gained on the statements and saw the DX drop as markets were buoyed by Monti’s statements, but the USD quickly regained its strength when the statements were rejected.
The overall markets were quiet with a lack of eco data and a slow day for news flow as US investors prepared for the long holiday weekend which will see US markets closed on Monday
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 May 25, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
May 25 |
JPY |
Tokyo Core CPI (YoY) |
-0.8% |
-0.6% |
-0.5% |
|
EUR |
GfK German Consumer Climate |
5.7 |
5.6 |
5.7 |
|
|
CHF |
Employment Level |
4.05M |
4.02M |
4.04M |
|
|
PLN |
Polish Unemployment Rate |
12.90% |
12.80% |
13.30% |
|
|
MXN |
Mexican Unemployment Rate |
4.9% |
4.9% |
4.6% |
|
|
MXN |
Mexican Trade Balance |
0.560B |
1.000B |
1.575B |
Upcoming Economic Events that affect the CHF, EUR, GBP and USD
|
Date |
Time |
Currency |
Previous |
|
|
May 28 |
28th-31st |
GBP |
-0.2% |
|
|
May 29 |
All Day |
EUR |
0.2% |
|
|
10:00 |
GBP |
-6 |
||
|
13:00 |
USD |
-3.5% |
||
|
14:00 |
USD |
69.2 |
||
|
May 30 |
7:00 |
CHF |
0.40 |
|
|
8:00 |
EUR |
3.2% |
Click here a current Silver Chart.
Originally posted here
