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The FXGT Blog
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Market Analysis
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, ...
9 May 2024
Bank of England Holds Rates with Optimistic Outlook for Future Cuts
The Bank of England (BoE) maintains interest rates at 5.25%, yet the tone of their latest policy statement suggests a shift toward optimism. This aligns with Governor And...
9 May 2024
WTI Climbs Above $79 Following Inventory Decline
West Texas Intermediate crude oil prices rebounded above $79 per barrel on Thursday, following a significant decrease in U.S. crude inventories. Oil prices have faced sig...
30 April 2024
Eurozone Surpasses Growth Expectations: Implications for ECB Monetary Policy
According to the latest Eurostat data, inflation in Europe held steady at 2.4% in March, aligning with market expectations. More notably, the core inflation rate, which e...
30 April 2024
Bitcoin Technical overview – Sideways consolidation continues
Downward Momentum: Over the past week, Bitcoin has experienced a 5% decline, marking a structured downtrend on the hourly chart. Despite the short-term trend, the daily t...
29 April 2024
Japanese Yen Surges 500 Pips in Dramatic Reversal Amid Intervention Speculation
The Japanese Yen made a significant comeback after the USD/JPY pair reached the critical ¥160.00 level during Monday's Asian session, marking the yen's lowest point since...
29 April 2024
The week ahead – All Eyes on FED Meeting & Non-Farm Payrolls
With the Federal Reserve's next meeting scheduled for Tuesday and Wednesday, all eyes will be on any signals regarding future monetary policy adjustments. The focus will ...
29 April 2024
Weekly Market Recap – US Stocks Recover Driven by Strong Earnings from Technology Companies.
US Stocks experienced notable gains this week, ending a three-week losing streak, largely driven by strong earnings from technology companies. Tesla, Microsoft, and Alpha...