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The FXGT Blog
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Market Analysis
27 May 2024
AUD/USD Maintains Strength Above $0.66 Ahead of Upcoming Retail Sales and Inflation Data
The Australian dollar held steady above $0.66 amid low liquidity due to the U.S. holiday, as investors await key domestic retail sales and inflation data later this week....
27 May 2024
The week ahead – US GDP & PCE Price Index
In a holiday-shortened week due to Memorial Day, key updates include the second Q1 GDP estimate on Thursday and April's core PCE price index on Friday. A lower PCE and so...
27 May 2024
Weekly Market Recap – Fed’s Higher-for-Longer Policy
The major U.S. stock indexes had mixed results this week. The Dow fell over 2.40%, ending its five-week winning streak and dropping to 39,000 points. The Nasdaq rose 1.34...
24 May 2024
SEC Approves Ethereum ETFs, but ETH Fails to Breach $4,000
Price Movement Post-ETF Approval: Despite historic approvals by the SEC for eight Ethereum-based exchange-traded funds (ETFs), Ethereum’s price has not surpassed the $4,0...
23 May 2024
GBP/USD Holds Above $1.2700 Despite Weak UK PMI Data, Focus Shifts to UK Retail Sales
The GBP/USD pair remains strong as traders reduce bets on a BoE rate cut in June, following the slower-than-expected inflation decline. The Pound benefits from these adju...
23 May 2024
Cautious Fed Minutes Pressure EUR/USD, Focus Shifts to PMI Data
The EUR/USD was knocked lower on Wednesday after the Federal Reserve’s (Fed) latest Meeting Minutes revealed a cautious stance from the Federal Open Market Committee (FOM...
22 May 2024
Sterling Gains as April Inflation Exceeds Forecasts, Shifts BoE Rate Cut Hopes to November
The pound jumped after data showed UK inflation fell less than expected in April. The April print has emerged as a significant hurdle for the Bank of England’s potential ...
22 May 2024
EUR/USD Awaits FOMC Outcome, Key Support Level at $1.08 in Play
EUR/USD has been in an upward trajectory since mid-April, finding strong support above the $1.06 level. The rally has lifted the daily chart above a key moving average fo...
21 May 2024
Oil Prices Weaken Despite Geopolitical Risks, OPEC+ Meeting in Focus
The market has spent the last two weeks in a sideways range, finding resistance at $80 and support at $77. Oil prices retested the $80 level during yesterday's session bu...
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...