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Analysis and Recommendations:
Silver eased by 72 cents to trade at 21.423 as precious metals remained in the red after tensions in Syria continue to ease. Industrial metals are also trading in the red, with copper trading at 3.205 down 5 pips. Copper prices fell on Thursday as reduced risk appetite ahead of the Fed policy meet next week hurt base metals. Euro zone industrial production fell by 1.5% in July which raised demand concerns from the region and pushed prices further down. Weak Japanese machinery orders and lower US unemployment claims also put pressure on prices. Traders can expect Copper to remain in range to lower as investors would await US retail sales, PPI and consumer sentiment data to get more clarity about the economic recovery in US and Fed’s action. The Federal Open Market Committee will decide to reduce monthly purchases of Treasuries to $35 billion from $45 billion, according to the median of 34 responses in a Bloomberg survey of economists. Policy makers will maintain mortgage-bond buying at $40 billion, the survey shows.
Base Metals on LME traded on mixed note on the expectations among the market participants that the US Federal reserve may start reducing bond buying program soon coupled with mixed LME inventories. Further, rise in risk aversion in the global markets kept prices under pressure. However, strong economic data from globe along with the weakness in DX cushioned sharp fall in the prices. LME Copper decreased by 1.31 percent on weak global market sentiments along with unfavorable economic data from eurozone added downside pressure on the prices.
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 recent analysis and information in our weekly reports.
Economic Data September 13, 2013 actual v. forecast
Upcoming Economic Events that affect the CHF, EUR, GBP, CAD and USD
Government Bond Auction
Date Time Country
Sep 16 09:00 Slovakia
Sep 16 09:10 Norway
Sep 17 08:30 Spain
Sep 17 09:30 Belgium
Sep 18 09:10 Sweden
Sep 18 09:30 Germany
Sep 18 09:30 Portugal
Sep 19 08:30 Spain
Sep 19 08:50 France
Sep 19 09:30 UK
Sep 19 09:50 France
Sep 19 15:00 US
Sep 19 17:00 US
Sep 20 15:30 Italy
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