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The FXGT Blog
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Market Analysis
21 May 2024
Technical overview – Bitcoin's Bullish Reversal
Following the last couple of months of downward pressure, Bitcoin's price is now showing signs of recovery, increasing almost 10% over the past week. The $60,000 level, t...
20 May 2024
Gold Surges to Record Highs Amid Fed Rate Cut Hopes and Escalating Geopolitical Tensions
Gold prices surged on Monday, hitting a record high near $2,450 during the European session. The rise was driven by renewed hopes for interest rate cuts from the US Feder...
17 May 2024
Ethereum's Critical Week Ahead: Spotlight on ETF Decision and Key Support Zone
Critical Juncture: Ethereum is at a critical juncture, currently hovering above the psychological level of $3,000 and showing signs of support above the 200-day EMA chann...
16 May 2024
Stock Rally Stalls as Investors React to Jobless Claims and Economic Data
US main Stock indexes are mostly flat on Thursday, following record highs reached on Wednesday. The rally paused as investors digested US jobless claims, home constructio...
16 May 2024
Japan’s GDP Contraction Highlights Yen Weakness and Economic Challenges
USD/JPY is currently trading at ¥154.60, down 1.30% from this week's high. The pair experienced selling pressure following the release of softer US CPI data but managed t...
15 May 2024
US Inflation Meets Expectations While Retail Sales Stagnate
In April, US inflation as indicated by the Consumer Price Index (CPI) softened to 3.4% year-over-year, aligning with market forecasts, and marking a slight decrease from ...
15 May 2024
Focus Shifts to CPI Report Following Powell's Commentary on Mixed PPI Data
Major U.S. indexes advanced reaching very near to their all-time highs. This upward movement was fuelled by reassurance from Federal Reserve Chair Jerome Powell, who hint...
14 May 2024
Gold's Bullish Momentum Faces Test with Upcoming US Inflation Data
Gold has climbed 2.60% since the start of May and 13% since the beginning of the year, continuing its rally above key moving averages across various timeframes. However, ...
14 May 2024
Rising Unemployment and Persistent Wage Growth Complicate Bank of England Decisions
Unemployment Rate: The UK's unemployment rate slightly increased to 4.3% for the three months ending in March, aligning with market forecasts, and rising from the previou...
14 May 2024
Technical overview – Bitcoin’s Surge Faces Critical Test at $65,500 Resistance Level
Bitcoin’s Recent Performance: Bitcoin has seen a notable rebound this week, climbing 11% from the previous week's low of $56,700. Since the beginning of May, the cryptocu...
14 May 2024
Crypto News Catchup - Crypto Exchanges See First Decline in Trading Volume Since September
Spot trading volumes on centralized crypto exchanges fell to $1.6 trillion in April, the first month-to-month decline since September 2023. This drop coincided with a sig...
13 May 2024
Japanese Yen Under Pressure Ahead of GDP Report
Yen Weakness Continues: The Japanese yen continues to face downward pressure, nearing ¥156.00 against the US dollar, as the market anticipates the release of Japan's GDP ...
13 May 2024
The week ahead – All Eyes on US Inflation Data
U.S. inflation metrics take the spotlight for the upcoming week, with the Producer Price Index (PPI) due Tuesday and the Consumer Price Index (CPI) on Wednesday. A modera...
13 May 2024
Weekly Market Recap – U.S. Labor Market Shows Signs of Weakening as Unemployment Claims Hit 8-Month High
U.S. stock indexes continued their upward trend for the third consecutive week, with the Dow Jones Industrial Average increasing by approximately 2%, the S&P 500 by 1.6%,...
10 May 2024
USD/CHF at Crossroads: Long-Term Resistance Versus Ongoing Bullish Trend
The USD/CHF pair has experienced a significant uptrend since the start of 2024, appreciating by approximately 8%. However, this trend recently encountered significant lon...
10 May 2024
U.S. Stocks Surge as Jobless Claims Rise, Increasing Odds of Fed Rate Cuts
The Dow extended its gains for the seventh consecutive day, climbing by 0.90% on Thursday, to reach a new 5-week high. This rally is the most significant since December, ...