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The FXGT Blog
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Market Analysis
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...
8 July 2024
Weekly Market Recap – Third Quarter Kicks Off with New Highs
The NASDAQ 100 and S&P 500 hit new highs, gaining 3.2% and 1.6%, while the Dow rose 0.4%.
4 July 2024
GBP/USD Gains on Weak US Data and Strong UK Services Ahead of Election
The pound held at $1.2750, after gaining 0.46% on Wednesday and hitting a three-week high.
4 July 2024
US Dollar Under Pressure as Job Data and ISM Report Signal Economic Weakness
Both the ADP Employment report and weekly jobless claims data indicate easing labour market conditions. Private employers hired 150K individuals in June, below the expect...
3 July 2024
Powell’s Comments Trigger USD Decline, Market Eyes Fed Minutes and ISM PMI
The US Dollar Index saw minor losses during Wednesday’s European session, dropping below 105.60.
3 July 2024
Sales Push Australian Dollar Up RBA Minutes Raise Rate Hike Expectations
The Australian dollar edged up against the U.S. dollar on Wednesday morning, driven by unexpectedly strong domestic retail spending data.
2 July 2024
S&P 500 Bull Run Faces Key Support Test at 5,440 Ahead of Major Economic Data
The S&P 500 closed June with a 3.5% gain, continuing a significant bull run since the April low of 4,930.
2 July 2024
WTI Crude Oil Gains Over 5% in June Amid Geopolitical Tensions and Summer Driving Demand
West Texas Intermediate (WTI) added over 5% in June and continues to show gains in early July, reaching new two-month highs.
2 July 2024
Technical overview – Bitcoin Ends June Down 7%, Recovery Signals Emerge Above $62K
Bitcoin ended June with a 7% decline, facing bearish pressure and retesting the $60,000 level.
1 July 2024
French Election Boosts Euro: Eurozone CPI Estimates and Powell's ECB Forum Speech in Focus
The euro experienced an increase on Monday morning following the initial round of France's election, which resulted in the far-right party taking the lead, albeit by a sm...
1 July 2024
The week ahead – All Eyes on FOMC & Non-Farm Payrolls
With the July 4th US bank holiday on Thursday, key data releases include ISM PMI data from Manufacturing and Services, and FOMC minutes.
1 July 2024
Weekly Market Recap – US Stocks Close June Strong as Jobless Claims Increase
The major US stock indexes remained relatively unchanged over the week but closed June with notable gains. The S&P 500 increased by 3.50%, the Nasdaq 100 climbed by 6.60%...
28 June 2024
USD/JPY Surges to Historical Highs: Japanese Authorities Hint at Intervention
On Friday morning, the dollar surged to its highest level against the yen since 1986, prompting Japanese authorities to express concern about the yen's decline.
27 June 2024
WTI Crude Balances US Inventory Rise with Geopolitical Risk Factors
Crude oil future prices dropped to below $80.50 during the Asian session on Thursday, retreating from a two-month high of $81.90 reached on Tuesday. However, they rebound...