• ECB Rates Unchanged; Downside Revisions in Growth and Inflation

    ECB Rates Unchanged; Downside Revisions in Growth and Inflation

    • March 7, 2024

    Following the Bank of Canada (BoC), the European Central Bank (ECB) announced it would hold all three key benchmark rates unchanged today for a fourth consecutive meeting, as widely expected. Downward Revisions in Growth and Inflation The updated macroeconomic Staff Projections observed a more optimistic picture for inflation in the form of downward revisions, and,

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  • The Pattern Pulse—7 March 2024

    The Pattern Pulse—7 March 2024

    • March 7, 2024

    Your weekly outlook of technical patterns and structure. The Research Team scans the financial markets for you, highlighting clear and actionable technical structures. Forex: Dollar on the Ropes Daily Timeframe – Following the break of channel support (extended from the low of 100.62) and subsequent push through the 200-day and 50-day simple moving averages (SMA)

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  • XAU/USD Clocks All-Time Highs

    XAU/USD Clocks All-Time Highs

    • March 6, 2024

    Fuelled amid softer-than-expected US economic data—ADP non-farm employment change and JOLTs—and hopes of the Fed cutting rates in the summer, spot gold (XAU/USD) is on track to wrap up a sixth day in positive territory after refreshing all-time highs at $2,150. It has been quite the run for the precious metal, but with price now

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  • BoC Rate Decision: Dovish Policy Shift?

    BoC Rate Decision: Dovish Policy Shift?

    • March 6, 2024

    Today will see the release of the Bank of Canada (BoC) rate decision at 2:45 pm GMT. BoC to Hold the Line The BoC is widely expected to keep its Overnight Rate on hold at 5.0% for a fifth consecutive meeting—a 22-year peak. As per the OIS curve, there’s only a 6% chance that we

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  • Precious Metals Broadly Higher!

    Precious Metals Broadly Higher!

    • March 4, 2024

    Following the US cash open, we can see precious metals have been broadly bid today. The price of spot gold (XAU/USD) and spot silver (XAG/USD) are +1.7% and +2.8% higher, respectively, at the time of writing. Despite UST yields advancing and the Dollar Index offering very little, both gold and silver are outperforming! Resistance is

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  • Index and Commodities Trading Week Beginning 04/03/2024

    Index and Commodities Trading Week Beginning 04/03/2024

    • March 3, 2024

    XJO WEEKLY Price structure: Breakout New ATH The Index has closed at an all time high and entered into a Primary UP trend. With the majority of the underlying stocks still below their 200 day moving averages, continued sentiment may lift the Index considerably higher with 8000 point a strong target as Bullish sentiment improves. The #3

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  • Major US Equity Indices Refresh All-Time Highs

    Major US Equity Indices Refresh All-Time Highs

    • March 2, 2024

    It was another great week for the US equity space, concluding February with a fourth successive month of upside. Investors remain buoyed by earnings, AI and, of course, the resilience of the US economy. Equities were bolstered by not only on PCE inflation data on Thursday, but also Friday’s ISM manufacturing report. Nasdaq Refreshes All-Time

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  • XAU/USD Prints Largest One-Week Gain Since Nov 2023

    XAU/USD Prints Largest One-Week Gain Since Nov 2023

    • March 2, 2024

    Where We Were For those who read last week’s week-ahead post, you will recall the FP Markets Research Team pencilled in the following points about gold prices (italics): There’s no denying that the yellow metal is exhibiting an uptrend and has been since pencilling in a bottom around the $1,614 area in late 2022. We

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  • USD/CAD: H1 Support Calls For Attention

    USD/CAD: H1 Support Calls For Attention

    • March 2, 2024

    Ahead of this week’s BoC meeting—the central bank is widely expected to remain on hold at 5.0%—the technical picture for the USD/CAD leans in favour of buyers for the time being. Monthly, Daily and H1 Charts Echo Bullish Tone From the monthly timeframe, we can clearly see the currency pair has formed a long-term consolidation

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  • EUR/USD Technicals Suggest Bears Will Be at the Wheel This Week

    EUR/USD Technicals Suggest Bears Will Be at the Wheel This Week

    • March 2, 2024

    Europe’s single currency concluded February eking out marginal gains against its US counterpart, delivering what many technical analysts will acknowledge as an indecision candle. Overall, the EUR/USD has been (and remains) in a downtrend since 2008, sporting clear lower lows and lower highs on the monthly chart. Despite January’s engulfing candle (textbook engulfing candles focus

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  • Spot Gold (XAU/USD) Punches Higher on PCE Data; Resistance Breached!

    Spot Gold (XAU/USD) Punches Higher on PCE Data; Resistance Breached!

    • February 29, 2024

    PCE Data Eases in the Twelve Months to January Today’s PCE data—a preferred measure for the Fed and one of the primary indicators they use to set monetary policy—was in line with economists’ estimates across the board. Interestingly, though, for the year-over-year measures for January, both headline and core supported the disinflationary process, easing to

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  • The Pattern Pulse—29 February 2024

    The Pattern Pulse—29 February 2024

    • February 29, 2024

    Your weekly outlook of technical patterns and structure. The Research Team scans the financial markets for you, highlighting clear and actionable technical structures. Forex: AUD/NZD Offers Potentially Weak at Resistance Daily Timeframe – Following Aussie CPI data and the RBNZ holding the Official Cash Rate unchanged, the AUD/NZD cross has been well bid from support

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