• American Express: Corrections Likely to Be Faded at Support

    American Express: Corrections Likely to Be Faded at Support

    • October 17, 2024

    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

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  • The Pattern Pulse – 17 October 2024

    The Pattern Pulse – 17 October 2024

    • October 17, 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: 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

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  • UK Inflation Softens Across Key Metrics; GBP Falls

    UK Inflation Softens Across Key Metrics; GBP Falls

    • October 16, 2024

    According 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

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  • Morgan Stanley: Buyers Likely to Continue Fading Corrections

    Morgan Stanley: Buyers Likely to Continue Fading Corrections

    • October 15, 2024

    Upcoming 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

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  • UK Jobs Data; November Rate Cut Likely

    UK Jobs Data; November Rate Cut Likely

    • October 15, 2024

    According 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

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  • USD/CAD Powering Higher Ahead of Canadian CPI Numbers

    USD/CAD Powering Higher Ahead of Canadian CPI Numbers

    • October 14, 2024

    Month 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

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  • Week Ahead: What Are the Financial Markets Watching This Week

    Week Ahead: What Are the Financial Markets Watching This Week

    • October 13, 2024

    The 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

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  • UK Economic Activity Posts Modest Growth

    UK Economic Activity Posts Modest Growth

    • October 11, 2024

    This 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

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  • US Inflation Stalls in September

    US Inflation Stalls in September

    • October 10, 2024

    According 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

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  • EUR/GBP Eyeing Year-To-Date Lows

    EUR/GBP Eyeing Year-To-Date Lows

    • October 10, 2024

    The 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

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  • The Pattern Pulse – 10 October 2024

    The Pattern Pulse – 10 October 2024

    • October 10, 2024

    Your 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

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  • Mighty Gold Hovering Ahead of Key Support

    Mighty Gold Hovering Ahead of Key Support

    • October 9, 2024

    With 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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