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Weekly Analysis and Recommendations:
Silver ended the week on a down note as precious metals lost their appeal. Silver traded as low as 21.42 but rebounded to end at 22.243 while Copper closed at 3.205. The base metals pack traded on a negative note as positive employment data from the US in yesterday’s trade and estimates of positive data from US in evening session fuelled QE taper concerns that could be announced in the FOMC meet next week. Strength in the DX acted as a negative factor. Weak global market sentiments added to the downside pressure on prices.
This week prices will be closely associated to the upcoming FOMC meeting scheduled for Tuesday and Wednesday. Investors turned their attention away from Syria as the risk of a U.S. military strike receded. U.S. Secretary of State John Kerry and Russian Foreign Minister Sergei Lavrov were set to conclude the final day of talks in Geneva on Friday to study the proposal for Damascus to give up its chemical weapons. Instead, market participants focused more on the U.S. Federal Reserve meeting next week, waiting to see whether the central bank will start scaling back its $85-billion-a-month asset-purchase program. Analysts speculate that recent upbeat data will make for a strong enough case for the Fed to begin the tapering process at the meeting.
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 and we provide daily updates and outlooks.
Major Economic Events for the week of September 9-13 actual v. forecast for Euro, GPB, the Franc, and USD
Chinese Fixed Asset Investment (YoY)
Chinese Industrial Production (YoY)
French Non-Farm Payrolls (QoQ)
Historical: From 2011 to present
Highest: 44.188 on Aug 22, 2011
Average: 31.108 over this period.
Lowest: 18.183 on Jun 28, 2013
Economic Highlights of the coming week that affect the Euro, GBP, CHF and the 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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