XAU/USD: A Trend-Follower’s Market
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- April 25, 2024
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Market Insight for the Week Ending 31 March
- March 25, 2023
Weekly Review A lot happened last week. Despite the recent banking turmoil, three central banks raised their benchmark interest rates last week as they continue to attempt to tackle elevated inflation. In fact, the month of March witnessed five central banks hike rates, including the US Federal Reserve recently increasing its Fed Funds rate by
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Reclaiming Position North of $2,000 Brewing on XAU/USD
- March 23, 2023
It is no secret that the price of gold and US government bonds are correlated. Among other factors, this is due to their safe-haven appeal (according to the 60-day rolling correlation coefficient, the correlation is nearly +0.90). Consequently, gold prices are also inversely correlated with US yields and the US dollar. With US Treasury yields
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US Dollar Echoes Weak Technical Tone Ahead of FOMC
- March 22, 2023
Month to date, versus a basket of six international currencies, the greenback is nearly 2.0% lower. Technically speaking, according to the latest Weekly Market Briefing, selling was likely on the table and should not really surprise. Monthly Chart: Room to Extend Losses You will likely recall from the weekly report that the buck has been
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Oil Rebounds from Major Support; Further Upside?
- March 21, 2023
West Texas Intermediate (WTI) oil has, so far, remained on the front foot on Tuesday, following Monday’s recovery from 15-month lows. Fears surrounding the banking sector witnessed the price of oil spiral south over the course of last week, shedding more than 13.0%, its largest one-week decline in months. Those who read my Weekly Market
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First Light News—Tuesday 21 March
- March 21, 2023
The FP Markets research team produce First Light News during the early hours of the European session, ensuring traders and investors have the news needed to begin their day. Good morning. US markets pencilled in gains across the board in the equity space on Monday amidst hopes of easing concerns in the banking sector.
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Market Insight for the Week Ending 24 March
- March 18, 2023
Weekly Review It has been a volatile week across the financial markets. Unless you have been hiding under a rock, you will recall that two US banking institutions recently collapsed: Silicon Valley Bank and Signature Bank, which sparked contagion fears. Also in the spotlight last week was Credit Suisse, falling to its knees and clocking
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EUR/USD Echoing a Technically Bearish Vibe Following ECB Hike
- March 16, 2023
The main highlight on the economic calendar on Thursday saw the European Central Bank (ECB) raise interest rates by another half-point (50 basis points) in an attempt to stem inflationary pressures. Euro area annual inflation for the month of February cooled to 8.5%, according to the flash estimate (the final CPI release is tomorrow at
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First Light News—Thursday 16 March
- March 16, 2023
The FP Markets research team produce First Light News during the early hours of the European session, ensuring traders and investors have the news needed to begin their day. Wednesday’s Highlights Good morning. US equity markets concluded Wednesday mixed after earlier losses were pared during the afternoon session. The Dow Jones Industrial Average and the
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S&P 500 Bottoming and VIX Topping?
- March 15, 2023
An interesting scenario is emerging between the S&P 500 equity index and the Chicago Board Options Exchange’s (Cboe) Volatility Index. What is the S&P 500? Serving as a basket of 500 of the largest publicly traded companies in the US—a little more than 500 actually—the S&P 500 is a widely followed stock market index comprising
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Global Equity Markets Plummet; Major Support in Focus
- March 15, 2023
It has been quite a day across global stock markets. As banking stocks gave up earlier upside, European equity indices tumbled on Wednesday, with the FTSE 100 dropping nearly 4.0% and Germany’s DAX falling 3.3%. US markets also slumped, weighed by banking giant Credit Suisse shedding more than 20% and clocking an all-time low, following
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BTC/USD Rebounding from $24k Support
- March 13, 2023
Monday observed a good old-fashioned flight to safety amidst US banking failures in recent days. Safe-haven currencies, such as the Japanese yen and the Swiss franc, benefitted, as did the price of spot gold, climbing 2.0%, and US Treasury bonds ended the London session higher across the curve. However, what has really caught my attention
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Market Insight for the Week Ending 24 February
- February 18, 2023
Weekly Review: The headline event in early trading last week was US inflation. According to the Bureau of Labour Statistics (BLS), annual inflation cooled to 6.4%. Although marking a seventh consecutive deceleration since the peak at 9.1% in June 2022, the release was marginally above the 6.2% consensus; the monthly measure, nonetheless, matched expectations at
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