Crude Oil Fundamental Analysis December 20, 2012, Forecast
Analysis and Recommendations:
Crude Oil is trading at 88.67 gaining 27 cents today. Nymex crude oil prices gained 0.4 percent taking cues from expectations of decline in US crude oil inventories. Additionally, weakness in the DX also pushed upside in the crude oil prices. The US Energy Department (EIA) is scheduled to release its weekly inventories shortly; ahead of the report crude oil remains positive. The EIA crude oil inventories is expected to show a decline by 1.1 million barrels for the week ending on 14th December 2012. Gasoline stocks are expected to gain by 1.8 million barrels whereas distillate inventories are also expected to increase by 1.0 million barrels for the same period.
Your capital is at risk
German Ifo Business Climate rose by 1 point to 102.4-mark in December as against a rise of 101.4-level in November. European Current Account was at a surplus of 3.9 billion euros in October from earlier surplus of 2.4 billion euros a month ago which is not expected to continue. US housing starts reported below forecast while building permits reported above. These two numbers balance off against each other giving a cancelling any market effects.
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 December 19, 2012 actual v. forecast
Date |
Time |
|
Currency |
|
Importance |
|
Event |
Actual |
|
Forecast |
|
Previous |
|
|
Dec. 19 |
09:00 |
|
EUR |
|
|
German Ifo Business Climate Index |
102.4 |
|
102.0 |
|
101.4 |
|
||
|
09:00 |
|
EUR |
|
|
German Current Assessment |
107.1 |
|
108.0 |
|
108.1 |
|
||
|
09:00 |
|
EUR |
|
|
German Business Expectations |
97.9 |
|
96.3 |
|
95.2 |
|
||
|
09:30 |
|
GBP |
|
|
MPC Meeting Minutes |
|
|
|
|
|
|
||
|
11:00 |
|
GBP |
|
|
CBI Distributive Trades Survey |
19 |
|
25 |
|
33 |
|
||
|
13:30 |
|
USD |
|
|
Building Permits |
0.899M |
|
0.875M |
|
0.868M |
|
||
|
13:30 |
|
USD |
|
|
Housing Starts |
0.861M |
|
0.873M |
|
0.888M |
|||
|
13:30 |
|
CAD |
|
|
Wholesale Sales (MoM) |
0.9% |
|
1.0% |
|
-1.5% |
WEEKLY
-
This Week in Petroleum
Release Schedule: Wednesday @ 1:00 p.m. EST (schedule) -
Gasoline and Diesel Fuel Update
Release Schedule: Monday between 4:00 and 5:00 p.m. EST (schedule) -
Weekly Petroleum Status Report
Release Schedule: The wpsrsummary.pdf, overview.pdf, and Tables 1-14 in CSV and XLS formats, are released to the Web site after 10:30 a.m. (Eastern Time) on Wednesday. All other PDF and HTML files are released to the Web site after 1:00 p.m. (Eastern Time) on Wednesday. Appendix D is produced during the winter heating season, which extends from October through March of each year. For some weeks which include holidays, releases are delayed by one day. (schedule)
Upcoming Economic Events that affect the CHF, EUR, GBP and USD
Date |
Time |
Currency |
Event |
Forecast |
Previous |
Dec. 20 |
09:30 |
GBP |
0.3% |
-0.8% |
|
|
09:30 |
GBP |
1.5% |
0.6% |
|
Dec. 21 |
07:00 |
EUR |
5.9 |
5.9 |
|
|
09:30 |
GBP |
-14.0B |
-20.8B |
|
|
09:30 |
GBP |
1.0% |
1.0% |
|
|
09:30 |
GBP |
-0.1% |
-0.1% |
Government Bond Auction
Date Time Country
Dec 20 10:30 UK
Dec 20 16:30 Italy
Dec 20 18:00 US
Dec 21 16:30 Italy