Analytical reviews of the Forex market

26.08.2024 11:08

Weekly Focus: GDP, PCE and Dovish Powell

The S&P 500 broad market index futures have risen by 0.15% to 5634 points, nearing last week’s highs and approaching the all-time high of 5670 points. This upward movement follows a robust buying spree on Friday, spurred by Federal Reserve (Fed) Chairman Jerome Powell’s clear indication of a potential interest rate cut cycle starting in September. Powell’s remark that "the time has come" signaled the Fed’s confidence in bringing inflation down to the 2.0% target, especially after inflation dropped to 2.9% YoY in July.

23.08.2024 11:08

Weekly Summary: Powell Could Sound Much Hawkish

Alexander Boltyan

The S&P 500 index futures are experiencing a mixed week, rising by 0.6% to 5596 points, but falling from Thursday's high of 5642 points. This brings the index closer to its all-time high of 5670 points. However, the ongoing retreat could potentially erase the gains made earlier in the week. The first half of the week was characterized by positive developments, such as a 5.0% drop in oil prices, which eased inflation concerns, and hints from U.S. policymakers about potential monetary easing.

21.08.2024 11:08

Crypto Week: TRX Rally, Musk is Probing for Crypto Rally amid Short Squeeze Fears

Anton Bykov

Bitcoin (BTC) is trading neutrally this week at $59,400, despite a brief rise of 3.3% to $61,377 on August 20. The market received a significant boost when New York federal judge Edgardo Ramos denied the U.S. Securities and Exchange Commission's (SEC) request for a pre-trial conference or an additional response in its ongoing securities fraud case against the Tron Foundation and its founder, Justin Sun. This legal reprieve allowed Tron (TRX) prices to surge by 23.0% to $0.1660, nearing six-year highs at $0.1779, set back in April 2021.

19.08.2024 12:08

Weekly Focus: FOMC Minutes, Harris, Labour Market Review, and Jackson Hole Meeting

Alexander Boltyan

On Monday, the S&P 500 broad market index futures slipped by 0.2% to 5,554 points, marking a minor technical correction following last week's impressive rally—the best since November 2023. Despite this pullback, the index reached an all-time high of 5,570 points on the same day. This resilience, coming after the U.S. labor market’s weakness in July, might suggest underlying strength in the market. owever, the lack of confirmed support from large investors raises concerns, as the SPDR S&P 500 ETF Trust (SPY) has yet to report its fund flows during this critical time.

16.08.2024 11:08

Weekly Summary: Inflation Is Down, S&P 500 Up Ahead of Jackson Hole Meeting

Anton Bykov

The S&P 500 broad market index futures have surged by 3.6% this week to 5,543 points, marking an impressive recovery. This rise has erased the losses incurred following the release of the U.S. July labor market report, bringing the benchmark close to entering the green zone above 5,564 points, which would mark a positive trend since the beginning of August. If the upward momentum continues, this week could set a record for S&P 500 index growth since October 2023. The index has already rebounded nearly 9.0% since hitting a low of 5,089 points on August 5.

14.08.2024 10:08

Crypto Week: Harris Lead Puts Pressure on Cryptos

Anton Bykov

Bitcoin (BTC) is showing a strong rebound, gaining 3.1% to reach $60,865, effectively erasing the 5.0% losses experienced on Sunday and Monday when the coin dipped to $57,613. This swift recovery highlights Bitcoin's volatility and potential for rapid gains. In the U.S. presidential race, Vice President Kamala Harris is gaining a lead over former President Donald Trump, according to various polls. Platforms like Polymarket show Harris’s “Yes” shares trading at $0.52 compared to Trump’s $0.45, and Predictit gives Harris a 59% chance of winning versus Trump’s 41%.

12.08.2024 11:08

Weekly Focus: U.S. Inflation and elevated Volatility Threats

Anton Bykov

The S&P 500 futures are showing a modest 0.2% increase to 5349 points this week, effectively recovering from the sharp 4% drop experienced last Monday. This recovery signals a potential upside, but market sentiment is clouded by uncertainty ahead of the U.S. July inflation data release. Investors are particularly on edge, anticipating either a significant positive surprise or a potentially market-shaking negative outcome. Last week’s small but positive change in initial jobless claims data led to a surprising 3.

09.08.2024 10:08

Weekly Summary: U.S. Recession Fears Are Waining

Alexander Boltyan

The S&P 500 broad market index futures are trading neutral early Friday, reflecting a period of stabilization after a volatile week. The index managed to erase its earlier 4% decline, a recovery that seemed improbable just a few days prior. This reversal was largely driven by positive macroeconomic data, particularly in the U.S. business activity and labor market. Key data that supported this recovery include the Service Sector PMI for July, which surged to 54.5 points, rebounding from 49.6 points that had previously signaled contraction.

07.08.2024 01:08

Crypto Week: BTC Failed to Become a Digital Gold

Anton Bykov

Bitcoin (BTC) is down 2.3% to $57,070 this week, recovering most of the early 16.0% losses after plunging to $49,035. The sell-off was triggered by a weak U.S. labor market report for July, which heightened recession fears. The S&P 500 broad market index fell by 6.0%, while the tech-heavy Nasdaq 100 index tumbled by 8.0% over just two trading days. Bitcoin's failure to act as a digital gold, a role often touted by crypto enthusiasts, was evident. It lost 24.0% in just two days, significantly underperforming the Nasdaq 100 and declining much more than gold.

05.08.2024 01:08

Weekly Focus: Recession Fears Amid Expected Iran Strike

Alexander Boltyan

The global financial markets are in a state of turmoil, driven by multiple factors pointing towards an impending recession. Key indicators such as a weak U.S. labor market report, yield curve inversion, and significant drops in major indices are painting a grim picture. The S&P 500 broad market index futures have dropped by 1.7% to 5233 points, a significant decline from the previous session's low of 5169 points. The primary driver for this drop is a weak U.S. labor market report for July, which saw the unemployment rate increase to 4.3% from 4.1% in June.