Week Ahead: US CPI Inflation Takes Centre Stage
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- January 12, 2025
Upcoming Earnings American Express Company (ticker: AXP) is scheduled to report #earnings before the market opens on 18 October. The consensus Earnings Per Share (EPS) estimate for the fiscal quarter ending September 2024 is US$3.27. The reported EPS for the same quarter a year prior was US$3.30. Record Highs The stock jumped to record highs
READ MOREYour 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: GBP/USD Exploring Possibilities South of Breached Support Monthly/Daily Timeframes: Following yesterday’s UK CPI inflation report (Consumer Price Index), traders sold the British pound (GBP), propelling the currency lower by
READ MOREAccording to a report released by the Office for National Statistics (ONS) this morning, UK inflationary pressures in September eased across all key indicators. This, of course, will be welcomed news for the Chancellor of the Exchequer, Rachel Reeves, as she prepares to deliver her first Annual Budget at the end of the month. CPI
READ MOREUpcoming Earnings Morgan Stanley (ticker: MS) is scheduled to report earnings before the market opens on 17 October. The consensus earnings per share (EPS) estimate for the fiscal quarter ending September 2024 is US$1.57. The reported EPS for the same quarter a year prior was US$1.38. Fresh All-Time Highs The share price of Morgan Stanley
READ MOREAccording to the Office for National Statistics (ONS), UK unemployment fell to 4.0% (June to August 2024), down from 4.1% in the previous three months and hit levels not seen since the beginning of this year. Wage Growth Continues to Slow Both regular pay and pay that includes bonuses slowed again in the three months
READ MOREMonth to date, the USD/CAD currency pair (US dollar versus the Canadian dollar) is up 2.0% and testing monthly highs. Monthly Price Action Suggests Further Upside Ahead The monthly timeframe exhibits scope to explore higher terrain until reaching resistance at C$1.3945, following a rebound from a support zone around C$1.3534. Technically, the pair has been hampered
READ MOREThe Week That Was: RBNZ Slashed Rates by 50bps The week kicked off with the Reserve Bank of New Zealand (RBNZ) reducing its Official Cash Rate (OCR) by 50 basis points (bps) to 4.75%, a move that was widely expected and marked the central bank’s second consecutive rate cut this year. The RBNZ signalled that
READ MOREThis morning’s latest figures from the Office for National Statistics (ONS) revealed that UK real GDP (Gross Domestic Product) grew by 0.2% in August, matching the market’s median estimate and following zero growth in June and July. In the three months to August, real GDP also increased by 0.2%, marking a slowdown from the downwardly revised print
READ MOREAccording to a report released by the Bureau of Labor Statistics (BLS) earlier today, US CPI inflation (Consumer Price Index) was higher than median expectations on all key measures in September. In fact, all prints, both MoM and YoY, matched the market’s maximum estimates according to Refinitiv data. This will also be the last inflation
READ MOREThe euro (EUR) versus the British pound (GBP) has been entrenched in a steady downtrend since late 2022, using the 200-day simple moving average (SMA) as dynamic resistance on several occasions. Conversion/Base Lines Serving as Resistance Recent price action shows that the EUR/GBP currency pair printed a pullback from fresh year-to-date lows of £0.8311 and
READ MOREYour weekly outlook of technical patterns and structure delivered directly. The FP Markets Research Team scans the financial markets for you, highlighting clear and actionable technical structures. Forex: USD Powering Higher Monthly/Daily Timeframes: October has been impressive for the US dollar (USD) so far, up more than 2.0% month to date (as per the US
READ MOREWith the sell-off in US Treasuries, spot gold has taken a back seat versus the US dollar (XAU/USD) from recently printed record highs (US$2,685) and is establishing a picture-perfect AB=CD correction on the daily scale. Daily ‘Alternate’ AB=CD Support For any harmonic traders reading, you will likely note that the daily AB=CD in focus represents
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