Important Note!
We use cookies to ensure you get the best experience on our website.
By clicking ‘Agree,’ you accept our use of cookies as outlined in our cookies policy
The FXGT Blog
Start your journey to financial empowerment with FXGT
Market Analysis
11 June 2024
China’s Gold Buying Pause and US Rate Speculation Hit Gold Prices
Gold saw a significant decline on Friday, closing 3.50% lower after the People’s Bank of China announced it did not add gold to its reserves in May, ending an 18-month st...
11 June 2024
Bitcoin's Price Action Stalls Amid Strong US Jobs Data and Fed Speculation
Bitcoin has dropped by 1.5% over the past week, but the sideways consolidation persists in the medium term.
10 June 2024
GBP/USD Gears Up for Volatile Week: Focus on UK Data and Fed Meeting
GBP/USD struggles to recover above $1.2720 in Monday’s early European session, starting off the week in negative territory.
10 June 2024
The week ahead – All eyes on FOMC Economic Projections
Traders will be closely monitoring the CPI data for signs of further softening, which could justify market expectations for a September rate cut.
7 June 2024
Euro Holds Gains After ECB Rate Cut, Attention turns to US Non-Farm Payrolls
The euro maintained its position above $1.0880 after the European Central Bank (ECB) delivered a well-anticipated rate cut of 25 basis points.
6 June 2024
USD/CAD Reacts to BoC Rate Cut and Strong US ISM Services PMI
The Bank of Canada (BoC) lowered its policy interest rate by 25 basis points to 4.75% at its June meeting, mentioning improved confidence that inflation is trending lower...
6 June 2024
Euro Strengthens Ahead of Anticipated ECB Rate Cut
The euro's recent strength against the dollar has been influenced by reduced expectations of further significant rate cuts by the ECB this year, alongside increased bets ...
5 June 2024
Australian Dollar Overcomes Weak GDP, Boosted by Strong China Data
The Australian dollar held steady, hovering around $0.665, as domestic economic data proved less disappointing than markets feared. Despite weaker-than-expected GDP growt...
5 June 2024
USD/CAD Consolidation Continues with BoC Rate Decision and US Data in Focus
Market Consolidation After Early 2024 Surge: The USD/CAD currency pair has had a dynamic journey in 2024. After climbing from a low of $1.3170 in January to near $1.38 in...
4 June 2024
Anticipation Builds for Bank of Canada Rate Cut
The USD/CAD pair is in focus after reversing a three-day decline. Despite trading in a consolidation pattern since May, the pair has strengthened to near $1.37 on Tuesday...
4 June 2024
EUR/USD Climbs to 6-week High as US Economy Shows Signs of Slowing
The EUR/USD pair climbed to its highest level since March, surpassing the $1.09 mark during the early hours on Tuesday. This follows a three-day winning streak for the eu...
4 June 2024
Bitcoin Gains 11.50% in May: Consolidation and Key Levels in Focus
Bitcoin gained 11.50% in May and is up 2% over the past week as it continues to consolidate sideways, remaining above the immediate support level of $66,300. The daily tr...
3 June 2024
Oil Prices Hold Steady as OPEC+ Extends Production Cuts into Next Year
Oil prices remained steady after OPEC+ decided to extend all production cuts into next year while outlining a gradual phase-out plan for some reductions. This move aims t...
3 June 2024
The week ahead – ECB Rate Decision & US Non-Farm Payrolls
The main event in the US will be the May job market report. Nonfarm payrolls are anticipated to have grown by 190k, a slight increase from April, with the unemployment ra...
3 June 2024
Weekly Market Recap – Major Indexes Post Monthly Gains
Major indexes ended the week lower but concluded May with strong gains. Over the week, the S&P 500 declined by 0.35%, the Nasdaq 100 fell 1.4%, and the Dow lost 0.8%. Des...
31 May 2024
EUR Recovers to $1.0850 as Eurozone Inflation Surpasses Expectations
The euro gained toward the $1.0850 mark, extending its rebound from the two-week low of $1.08 reached. This movement is driven by higher-than-expected inflation in the Eu...