XAU/USD: A Trend-Follower’s Market
- Daily Analysis, Daily Report, Recent Posts, Technical Analysis, Trending Now
- April 25, 2024
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USD/JPY On the Verge of Hitting Multi-Decade Highs
- April 6, 2024
You will recall that the Bank of Japan (BoJ) increased its Policy Rate to +0.00%/0.10% in March, pulling the rate out of negative territory. While many, including the Research Team at FP Markets, expected the Japanese yen (JPY) to rally on the back of this, we instead witnessed a fall in the currency, consequently drawing
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Is There Any Stopping Gold?
- April 6, 2024
The spot price of gold (XAU/USD) concluded another week in positive territory, adding +4.3% and refreshing record pinnacles at $2,330/ounce amid expectations of lower rates this year, geopolitical tensions and speculative buying. 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
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ECB and US CPI in the Headlights This Week
- April 6, 2024
Last week ended with the US Employment Situation Report. Markets witnessed a monster beat for employment growth; the US economy added more than 300,000 jobs in the month of March versus a median estimate of 210,000 (prior data: small downward revision from +275,000 to +270,000). This marked the largest one-month gain in nearly 12 months.
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The Pattern Pulse—4 April 2024
- April 4, 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: Dollar Index Testing Support Daily Timeframe – Following Fed Chair Powell’s comments yesterday, in which he emphasised a wait-and-see vibe, the US Dollar Index pulled lower from resistance at
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Dollar Index Slammed Lower on Powell’s Comments
- April 3, 2024
Dollar Index Slammed Lower on Powell’s Comments Fed Chair Jerome Powell recently made the airwaves, delivering remarks on the economic outlook at Stanford Business School. Key Takeaways from the Speech: The Fed Chief does not envisage easing policy until there is more confidence regarding the inflation picture but still believes it will be ‘appropriate’ to
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EUR/USD Ahead of Euro Area Inflation Release
- April 2, 2024
ECB Dovish Stance Recently, the ECB adopted more of a dovish stance. ECB President Christine Lagarde noted that the eurozone’s economy is in a disinflationary process and added that inflation is ‘making good progress’. Lagarde added that they are confident but ‘not sufficiently confident’ and commented that additional data is needed; more will be known
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EUR/CHF Leaning in Favour of Bulls
- March 26, 2024
Year-to-Date (YTD) Outperformance Weekly timeframe – The technical landscape of longer-term flow on the EUR/CHF paints an interesting picture at the moment, poised to end the week higher for an eighth successive weekly session. Interestingly, the currency pair is up +5.4% (YTD), following the record low printed in late 2023 at CHF0.9254. You will also
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XAU/USD: $2,147 Support in a Vulnerable Position
- March 23, 2024
Following another all-time high for the yellow metal last week at $2,223, the tail end of the week witnessed a moderate correction. 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. Knowing we have a clear uptrend in
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Macro/Technical Picture Suggests Shorting Rallies in GBP/USD
- March 23, 2024
Dovish Shift It was another disappointing week for the pound, pencilling in its worst-performing week of the year (-1.1%). March is poised to end the month considerably off best levels, fuelled by the recent shift in MPC votes with the Bank of England (BoE) now edging ever closer towards easing policy (this was a surprise
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Quiet Week Ahead in the Markets
- March 23, 2024
Compared to last week’s bumper slate of event risk, this week will be considerably more subdued, influenced not only by limited global asset drivers but also by liquidity thinning ahead of the long Easter weekend. Core PCE Data The headline event for the week will be the US Core PCE data (the Fed’s preferred measure
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Oil Bears to Make a Show?
- March 23, 2024
Last week, the price of WTI oil settled considerably off its best levels, consequently delivering a Japanese shooting star candlestick formation on the weekly chart (bearish). Despite bottoming in late 2023 and printing a series of higher highs and higher lows on the daily timeframe, daily technical resistance also made a show last week. The
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BTC/USD Update: Correction Territory
- March 23, 2024
A Correction Was Inevitable at Some Point Against the US dollar (USD), the price of Bitcoin (BTC) has been on a tear in recent weeks, refreshing all-time highs of $73,845. The recent correction, however, has some traders questioning how low the market can drop. Based on the current uptrend, in place since bottoming at $15,581
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