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The FXGT Blog
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Market Analysis
17 July 2024
GBPUSD Hits One-Year High as Strong Services Inflation Reduces BoE Rate Cut Expectations
The British pound surged to its highest level in nearly two years against the euro and around a one year high against the dollar.
17 July 2024
Dow Jones Surges to Record Highs as September Rate Cut Priced In
The Dow Jones Industrial Average (DJIA) soared by 1.80% on Tuesday, gaining over 700 points to set a new record-high above 40,900.
16 July 2024
US Oil Faces Key Support Retest at $81 Amid China Demand Concerns
The recent two-month oil rally encountered significant resistance at $85 in early July before retracing to find support at $81.
16 July 2024
Technical overview – Bitcoin Jumps 10% as Market Sentiment Shifts
Bitcoin has gained over 10% in the past week, with a rally starting over the weekend as the crypto community showed support for former President Donald Trump after an ass...
15 July 2024
Dollar Drops to Five-Week Low on September Rate Cut Bets
The US Dollar Index (DXY) recently dipped to five-week lows near 104.00, primarily due to declining US yields and an overall improvement in risk sentiment.
15 July 2024
The week ahead – All Eyes on Inflation Data
Critical inflation reports from the UK, Canada, and New Zealand will be closely watched.
15 July 2024
Weekly Market Recap – Wall Street Hits Record Highs on Soft CPI Data
The S&P 500, Nasdaq, and Dow Jones Industrial Average all reached record highs, driven by Federal Reserve Chair Jerome Powell's comments hinting at potential interest rat...
12 July 2024
Markets React to First Negative MoM Inflation Print Since 2020
This marks the third straight month with declining CPI inflation. This trend of declining CPI inflation, combined with a cooling labour market, puts pressure on the Fed t...
11 July 2024
AUD Holds Steady Amid Weaker Consumer Confidence and Strong Business Sentiment
The Australian Dollar remained rangebound around $0.674 as investors assessed the outlook for Reserve Bank of Australia (RBA) monetary policy amid a mix of economic repor...
11 July 2024
RBNZ Keeps Rates Unchanged at 5.50%, Shifts to Unexpectedly Dovish Tone
The Reserve Bank of New Zealand (RBNZ) has kept its Official Cash Rate (OCR) steady at 5.50%.
10 July 2024
Powell’s Cautious Rate Approach Keeps Markets Steady, Thursday’s CPI Data in Focus
Fed Chair Jerome Powell emphasized a cautious approach to interest rate adjustments, highlighting the risks of acting too soon or too late.
9 July 2024
NZD/USD Hits Three-Week High Ahead of RBNZ Meeting
The NZD/USD pair hit a new three-week high above 0.6150 during Monday morning, marking the fifth consecutive session of gains for the Kiwi.
9 July 2024
Oil Prices Slip Below Key Support After Five-Week Rally, Focus Turns to $80 Target Level
Monday's price action brought a significant development as crude oil broke below key 4-hour support level at $82.50, signaling the potential formation of a daily top.
9 July 2024
Technical overview – Bitcoin's Four-Week Losing Streak Continues
Bitcoin has seen substantial declines, falling 10% over the past week and 20% over the past month, extending its losing streak to four consecutive weeks.
8 July 2024
China's Pause on Gold Purchases and US Data Influence Gold Market
Official data released on Sunday showed that the People's Bank of China (PBoC) did not add to its gold reserves for the second consecutive month in June, keeping its hold...
8 July 2024
The week ahead – All Eyes US Inflation Data
Fed Chair Jerome Powell will testify before the Senate Banking Committee on Tuesday and Wednesday, likely adopting a dovish tone for 2025 rates due to recent soft PCE inf...