Senior Market Strategist
Russell Shor is a Senior Market Strategist at FXCM, having been promoted to the role in 2025 in recognition of his depth of insight and consistent delivery of high-impact market analysis. He originally joined FXCM in October 2017 as a Senior Market Specialist.
Russell holds an Honours Degree in Economics from the University of South Africa, is a certified FMVA®, and a full member of the Society of Technical Analysts (UK). With over 20 years of experience in financial markets, his work is renowned for its clarity, precision, and strategic value across asset classes.
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The Swiss National Bank (SNB) cut its key interest rate by 25 basis points to 1.25%, amid mixed global monetary policy stances. Two-thirds of economists predicted this move, leading to a weakened Swiss franc, with the Euro up 0.5% and the US dollar rising 0.7%. The SNB forecasts inflation at 1.3% for 2024, 1.1% for 2025, and 1.0% for 2026, with economic growth projected at 1% this year and 1.5%…
UK inflation for May dropped to the Bank of England's target of 2.0%, as reported by the Office for National Statistics, marking a decrease from 2.3% in April. This figure matched economists' forecasts, causing a slight rise in the sterling to $1.2732. Services inflation, a crucial indicator for the BOE, decreased to 5.7% from 5.9% in April, while core inflation, excluding certain volatile items, fell to 3.5% from 3.9%.
Tesla stock surged yesterday, outpacing the Nasdaq Composite with a 5.3% rise to $187.44, while the S&P 500 and Nasdaq gained 0.8% and 1%, respectively. The main catalyst was the re-approval of CEO Elon Musk’s 2018 pay package, which grants him 300 million stock options. This revote was necessary after a court ruling invalidated the original approval due to disclosure issues. Announced on Musk’s social-media platform X, the renewed approval…
The Bank of Japan's latest move has left investors feeling perplexed. Despite hints at a shift in policy, the central bank's announcement lacked concrete details, leaving many questions unanswered.
Early Thursday, the cryptocurrency market displayed mixed reactions following the Federal Reserve's announcement, which diminished hopes for interest-rate cuts. Bitcoin notably dropped after the FOMC released its rate statement and during Fed Chair Powell’s press conference. Prior to this, Bitcoin had briefly climbed above $69,000, spurred by unexpectedly mild U.S. consumer inflation data, but these gains were subsequently erased.
The European Union announced higher tariffs on Chinese electric vehicle imports due to significant unfair subsidies, posing a threat to European EV manufacturers.
With it being just over 1.5 years since OpenAI introduced ChatGPT, Apple has unveiled its comprehensive AI strategy, Apple Intelligence. This technology will only be available on iPhone 15 Pro and Pro Max models, which make up about 5% of the current iPhone user base due to hardware requirements. This move aims to drive sales of the high-end models by offering unique AI capabilities, as detailed in Apple's presentation at…
The US Federal Reserve is anticipated to maintain interest rates within the 5.25-5.5% range this Wednesday, suggesting that September may mark the earliest consideration for a rate cut. Market attention will be directed towards the updated dot plot, providing insights into individual members' perspectives on interest rate trajectories. In March, the Fed indicated a predominant view of three rate reductions for the year, with an additional three cuts expected in…
Tomorrow the ECB is likely to deliver a 25-bps cut – the first major advanced economy central bank to begin its cutting cycle. The cut is expected, with markets having priced in the cut from 4% to 3.75% for a few weeks now. However, forward guidance will be key here, with market participants focusing on any clues provided regarding future policy direction.
The digital currency market experienced a surge, with Bitcoin reaching a one-week high above $70,000. This uptick coincided with renewed interest in GameStop shares, fueled by the Reddit account behind the meme-stock mania of 2021. A cryptocurrency linked to GameStop on the Solana blockchain also saw a significant rise, despite having no official connection to the company.
Inflation in April rose as expected, with markets anxious about potential interest rate cuts, according to a key measure released Friday closely watched by the Federal Reserve. The core personal consumption expenditures (PCE) price index, excluding food and energy, increased 0.2% monthly and 2.8% annually, matching estimates. Including food and energy, PCE inflation was 2.7% annually and 0.3% monthly, also in line with forecasts. Fed officials prefer the PCE over…
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