• UK CPI Inflation Data Ahead: Sterling Hovering North of Key Support

    UK CPI Inflation Data Ahead: Sterling Hovering North of Key Support

    • April 16, 2024

    Following today’s mixed bag of employment and wages data, tomorrow’s attention is directed to the March UK CPI inflation release, scheduled to air at 7:00 am GMT+1. Estimates Suggest Further Disinflation Both headline and core (excludes food, energy, tobacco and alcohol) measures have surprised to the downside in the previous two releases and are expected

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  • USD/CAD Forecast: Retail Sales Boost US Dollar, Canada’s CPI in Focus

    USD/CAD Forecast: Retail Sales Boost US Dollar, Canada’s CPI in Focus

    • April 16, 2024

    Canada’s March inflation is expected to rise to 2.9%, potentially impacting a June rate cut. US retail sales beat forecasts, keeping the not-so-soon rate cut story. USD is buoyed by the Chinese authorities, allowing a lower yuan. Good morning to all our readers! Yesterday was dominated by US retail sales data; retail sales rose 0.7%

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  • Dollar’s Safe-Haven Status Could Hold Strong Amid Market Turmoil

    Dollar’s Safe-Haven Status Could Hold Strong Amid Market Turmoil

    • April 15, 2024

    Dollar’s Safe-Haven Status Could Hold Strong Amid Market Turmoil Iran’s attack on Israel had a limited impact on the Forex market. US retail sales data today follows a strong CPI, with little expected impact on Fed rate cut projections for 2024. The corrective upside in the Pound and Euro lacks firm conviction. Good morning to

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  • Index and Commodities Trading Week Beginning 15/04/2024

    Index and Commodities Trading Week Beginning 15/04/2024

    • April 14, 2024

    XJO WEEKLY Price structure: Rejection of the high The Fake Out (FO) discussed two weeks ago has continued to play out with a reversal in the form of an outside period (OPd) and, last week, a further rejection of the high with a low closing price in the overall range. With the price remaining within

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  • Deeper Correction Likely for XAU/USD This Week

    Deeper Correction Likely for XAU/USD This Week

    • April 13, 2024

    Another week, another record high for the precious metal. The spot price of gold (XAU/USD) refreshed all-time highs at $2,431 last week, strengthened by expectations of US rate cuts, safe-haven demand amid geopolitical tensions in the Middle East and central banks purchasing large stockpiles of gold. However, sentiment soured on Friday, casting gold -1.2% lower

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  • S&P 500 on Track to Snap Five-Month Bullish Phase

    S&P 500 on Track to Snap Five-Month Bullish Phase

    • April 13, 2024

    The S&P 500 finished another week in negative territory, shedding -1.6% (-2.5% MTD). While it is clear that this market remains the domain of buyers, 90% of the upside in March has been reclaimed, and evidence is building for a deeper correction. Deeper Correction Possible Kicking things off from the monthly chart, following last week’s

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  • GBP/USD on the Radar This Week

    GBP/USD on the Radar This Week

    • April 13, 2024

    Sterling ended the week considerably lower against the US dollar, recording its largest one-week decline since July 2023 (-1.5%). In light of the slew of UK economic data on the docket this week—wages, CPI inflation and retail sales—this will be a particularly key market to monitor. Monthly Resistance Holding Firm Price action on the monthly

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  • The Pattern Pulse—11 April 2024

    The Pattern Pulse—11 April 2024

    • April 11, 2024

    Your weekly outlook of technical patterns and structure. The FP Markets Research Team scans the financial markets for you, highlighting clear and actionable technical structures. Forex: EUR/USD Tentatively Tests Support Ahead of ECB Meeting Daily Timeframe – Following hotter-than-expected US CPI inflation numbers pulling the EUR/USD southbound yesterday, the currency pair is now testing the

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  • Hotter-Than-Expected US CPI Prompts Hawkish Repricing!

    Hotter-Than-Expected US CPI Prompts Hawkish Repricing!

    • April 10, 2024

    Data came in broadly higher than expected for the March US CPI inflation print. Higher-Than-Expected Reports on Three of the Four Major Prints Year-on-year headline CPI inflation for March rose +3.5%, up from +3.2% in February and a touch higher than economists’ estimates of +3.4%. Of note, this follows a rise of +3.4% in December

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  • BoC Preview: No-Change Expected; Forward Guidance Eyed

    BoC Preview: No-Change Expected; Forward Guidance Eyed

    • April 10, 2024

    Market Pricing – Unlikely to Adjust Rates The Bank of Canada (BoC) is poised to update policy later today at 2:45 pm GMT+1. Markets are currently pricing around a 16% probability of a 25bp cut at the upcoming meeting, with June pricing in -20bps of easing and July fully pricing in a -25bp cut. Recent

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  • Key Event Risk of the Week: Markets Eyeing US CPI Inflation

    Key Event Risk of the Week: Markets Eyeing US CPI Inflation

    • April 9, 2024

    Market Consensus: Year on year – Headline: Estimate: 3.4%; Previous: 3.2% (Estimate Range: 3.5% High; 3.1% Low) Core: Estimate: 3.7%; Previous: 3.8% (Estimate Range: 3.8% High; 3.5% Low) Month on month – Headline: Estimate: 0.3%; Previous: 0.4% (Estimate Range: 0.5% High; 0.2% Low) Core: Estimate: 0.3%; Previous: 0.4% (Estimate Range: 0.4% High; 0.2% Low) Bloomberg

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  • Index and Commodities Trading Week Beginning 08/04/2024

    Index and Commodities Trading Week Beginning 08/04/2024

    • April 7, 2024

    XJO WEEKLY Price structure: Fake out + OPd The Fake Out (FO) discussed last week has played out with a reversal in the form of an outside period (OPd), with the price remaining within the ascending wedge pattern. The potential flowing an OPd is for further follow-through lower in this chart to retest the 7632

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