Analytical reviews of the Forex market

19.04.2024 11:04

Weekly Summary: Israel Pushed Stocks into Correction

S&P 500 broad market index futures dropped by 3.0% to 4971 points this week. The benchmark went even lower to 4927 points, the lowest since February 13. This correction happened after Israel carried out a strike on Iran. Curiously, Iran said that there was no missile strike, but local air defense systems. Explosions were heard near Isfahan International Airport and an army base in Isfahan city. The initial market reaction was very strong. Brent crude prices jumped by 4.4% to $90.80 per barrel. Gold went up by 1.7% to $2417 per troy ounce. U.S. 10-year Treasuries yields dropped to 4.

17.04.2024 10:04

Crypto Week: BTC Drop before Halving and 90% Discount on Bored Apes

Anton Bykov

The recent week saw Bitcoin (BTC) experiencing a 0.7% decline to $63,300, following a significant 10% drop over the weekend. On March 13, the coin dipped even further, reaching $60,180, marking its lowest reading since March 5. This sharp decline was triggered by Iran's missile and drone attack on Israel. Although most targets were shut down and the damage to Israel was minimal, this event prompted a negative response in the crypto market. Altcoins, in particular, suffered disproportionately, losing twice as much value as Bitcoin.

15.04.2024 12:04

Weekly Focus: U.S. Retail Sales, Fed’s Powell and Banking Sector Reporting

Anton Bykov

It seems like the S&P 500 broad market index futures had a somewhat positive start to the week, rising by 0.5% to 2155 points. However, this gain follows a previous week of retracement where the benchmark lost 1.5%. The current situation remains tense, and corrections are still possible. The support level for the S&P 500 index has moved higher to 5130-5150 points, and the price has followed suit. This upward move has made the current disposition even more fragile.

12.04.2024 10:04

Weekly Summary: Hopes for Strong Corporate Profits Keep the Stock Market Afloat

Alexander Boltyan

The S&P 500 broad market index futures demonstrated resilience by only edging lower by 0.2% to 5191 points, despite facing higher-than-expected inflation and rising borrowing costs in the United States. Following a 1.4% decline on Wednesday and Thursday to the support level at 5110-5130, the benchmark managed to recover later in the week. March's Consumer Price Index (CPI) revealed a 3.5% year-on-year increase, surpassing expectations of 3.4% and marking the highest level since September 2023. This surge in inflation pushed U.S. 10-year Treasuries yields to 4.

10.04.2024 11:04

Crypto Week: Hayes Crypto Correction, Special Halving and Eisenberg Mango Fraud

Anton Bykov

Bitcoin (BTC) remained relatively stable at $68,780 on Wednesday, masking the significant volatility experienced in the preceding two days. On Monday, BTC surged by 5.5% to $72,880, nearing its all-time high at $73,864, only to plummet the following day to $68,825, showcasing a tumultuous ride akin to a rodeo. This volatility resulted in substantial losses for traders, with short positions incurring $124 million in losses on Monday, followed by long trades suffering $175 million in losses the next day.

08.04.2024 12:04

Weekly Focus: Inflation, FOMC Minutes, ECB and Corporate Reporting Season in the U.S.

Anton Bykov

S&P 500 broad market index futures showed a modest increase of 0.1% to 5214 points this week, rebounding from a 2.0% decline observed last Friday when it dropped to 5147 points. Despite expectations for a continued downturn following the strong U.S. labor market report, the index managed to rebound by 1.1% and finish the week at 5208 points. The robust March Nonfarm Payrolls report, which exceeded expectations at 303,000, along with a surprising decrease in unemployment to 3.8% from February's 3.9%, and an acceleration in average hourly earnings to 0.3% MoM, led to a surge in U.S.

05.04.2024 11:04

Weekly Summary: Stock are Retreating amid Fears of Interest Rates Cuts Delays

Alexander Boltyan

The S&P 500 broad market index futures experienced a significant decline of 1.6% this week, dropping to 5165 points. This decline intensified on Thursday, with the benchmark hitting its lowest level since March 19 at 5147 points. Overall, this week marked the worst performance for the stock market since October 2023. Initially, the S&P 500 index showed stability in the first half of the week and even reached a new all-time high of 5286 points on Monday. However, a series of robust macroeconomic data releases in the United States led to a retreat.

03.04.2024 10:04

Crypto Week: UltraShort BTC amid Stagnating Market

Anton Bykov

Bitcoin (BTC) is experiencing a 7.0% retreat this week, with prices dropping to $66,000 per coin and hitting a low of $64,498, the lowest in the past 10 days. The deteriorating crypto market is attributed to rising yields on the American debt market, which have been spurred by higher-than-expected PMI and GDP estimates in the United States. Bets on interest rate cuts by the Federal Reserve (Fed) in June have decreased to 56.3% from 66.0%, while U.S. 10-year Treasuries yields have surged to 4.40%, the highest since November 28, 2023.

01.04.2024 10:04

Weekly Focus: New Quarter, Old Tricks

Alexander Boltyan

The S&P 500 broad index market futures surged by 0.5% to reach 5282 points this week, indicating a notably rapid pace of growth. Despite no trading sessions on Friday, investors had the opportunity to react to the release of important PCE index data for February, which was released prior to the market closure. Wall Street had anticipated the Core PCE, which excludes volatile food and energy prices, to remain steady at 2.8% year-on-year and decrease slightly to 0.3% on a monthly basis. The actual data aligned with these forecasts. However, the headline PCE index remained at 0.

29.03.2024 10:03

Weekly Summary: Another S&P 500 Record and Fed’s Favorite Inflation Gauge Release

Anton Bykov

The S&P 500 broad market index futures saw a modest increase of 0.3% to reach 5254 points this week, marking yet another all-time high at 5270 points on Thursday. With markets mostly resting on Good Friday, attention shifts to key economic data releases. The first quarter of 2024 closed on a notably positive note with a 10.15% rise, the best performance since 2019. March also saw a positive trend with a 3.3% upside, albeit less impressive compared to March 2023's 3.5% increase.