By FXEmpire.com
Analysis and Recommendations:
Silver once again followed in gold’s shadow. With the USD soaring and the dollar index close to 83.00 silver is suffering as investors cannot take advantage of the low prices with the USD being so costly.
Intensifying concerns over Spain’s debt dampened the market sentiments, sending commodities and equities down. Euro hit a 23 month low after Spanish bond yields increased, raising worries that it may spiral up to unsustainable levels. Spot gold hit a one week low earlier today stretching the previous session’s steep decline, tracking weakness in euro. In the MCX, however, gold was moving in the tight ranges. While, depreciating rupee provided lower level support, weakness seen in the international market capped gains. Market was waiting for fresh cues for further directional moves. Base metal complex in LME as well as in Shanghai were in red. Base metals in LME dropped more than one per cent except for nickel and aluminum. China indicating that it was unlikely to provide a massive stimulus measures to prop up economic growth weighed on the market too amid lingering concerns over euro zone debt crisis.
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.
Upcoming Economic Events that affect the CHF, EUR, GBP and USD
|
Date |
Time |
Currency |
Previous |
|
|
May 31 |
5:45 |
CHF |
GDP q/q |
0.1% |
|
31st-3rd |
EUR |
German Retail Sales m/m |
0.8% |
|
|
6:45 |
EUR |
French Consumer Spending m/m |
-2.9% |
|
|
7:55 |
EUR |
German Unemployment Change |
19K |
|
|
9:00 |
EUR |
CPI Flash Est?mate y/y |
2.6% |
|
|
12:15 |
USD |
ADP Non-Farm Employment Change |
119K |
|
|
12:30 |
USD |
Prelim GDP q/q |
2.2% |
|
|
12:30 |
USD |
Unemployment Claims |
370K |
|
|
13:45 |
USD |
Chicago PMI |
56.2 |
|
|
15:00 |
USD |
Crude Oil Inventories |
0.9M |
|
|
Jun 1 |
TBD |
GBP |
Halifax HPI m/m |
|
|
7:15 |
CHF |
Retail Sales y/y |
4.2% |
|
|
7:30 |
CHF |
SVME PMI |
46.9 |
|
|
7:45 |
EUR |
Italian Manufacturing PMI |
43.8 |
|
|
8:30 |
GBP |
Manufacturing PMI |
50.5 |
|
|
9:00 |
EUR |
Unemployment Rate |
10.9% |
|
|
12:30 |
USD |
Non-Farm Employment Change |
115K |
|
|
12:30 |
USD |
Unemployment Rate |
8.1% |
|
|
12:30 |
USD |
Core PCE Price Index m/m |
0.0% |
|
|
12:30 |
USD |
Personal Spending m/m |
0.2% |
|
|
12:30 |
USD |
ISM Manufacturing PMI |
0.3% |
|
|
14:00 |
USD |
S&P/CS Composite-20 HPI y/y |
54.8 |
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Originally posted here
