Russell Shor

Russell Shor

Senior Market Specialist

Russell Shor joined FXCM in October 2017 as a Senior Market Specialist. He is a certified FMVA® and has an Honours Degree in Economics from the University of South Africa. Russell is a full member of the Society of Technical Analysts in the United Kingdom. With over 20 years of financial markets experience, his analysis is of a high standard and quality.

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  • GBPUSD declines as UK slips into technical recession

    The UK economy has dipped into a technical recession with two straight quarters of negative growth. The Office of National statistics said UK GDP printed at -0.3% for the fourth quarter of 2023. This, after the previous quarter came in at -0.1%. All three sectors – services, production, and construction output – showed contraction for the quarter.

  • Price target for Nvidia raised, but the stock is overbought in the near term

    Nvidia CEO Jensen Huang, at the World Government Summit in Dubai, said that shifts to accelerated computing are likely to continue and that countries need to build on their AI infrastructure. In an interview Huang said that “There’s about $1 trillion worth of installed base of data centres around the world. And over the course of the next four or five years we’ll have $2 trillion worth of data centres…

  • Bitcoin testing overhead resistance

    Bitcoin has appreciated into a resistance zone around the $49,000 area (red shaded horizontal). Moreover, the daily RSI has moved into overbought territory (green rectangle). It is unlikely that the indicator will stay overbought for long, suggesting that the overhead resistance level may be a key reaction level for the cryptocurrency.

  • SPX500 moves into overbought territory, introducing possibility of a near-term pullback

    The SPX500 weekly chart has moved into overbought territory with its RSI above 80 (green rectangle). This comes as the index nears the 5,000 level. Round numbers often prove to be psychological resistance areas, and this may be the case given the index’s frothy indications. I.e. a pullback over the coming weeks is a distinct possibility.

  • Palantir share’s jump over 30% on impressive revenue growth

    Palantir (PLTR.us), the maker of defensive software, surged close to 31% yesterday after the company beat Q4 earnings expectations, with the stock closing at $21.87. This is the company’s largest one day percentage gain on record. In the past the market had concerns about future deals with the government, but this has been overlooked with the market positively receiving the company’s success in its commercial deals for its analytics software.

  • CHN50 still in downtrend despite state fund’s vow to boost stock purchases

    FXCM’s China 50 basket gapped up on news that a state fund will boost stock purchases. China’s Central Huijin Investment, a sovereign fund that owns China’s state-run banks and other government enterprises, said it will step-up its purchases of stock index funds to support the market. The fund tends to buy big state banks and companies to counter the selling pressure in the Chinese market, largely due to China’s property…

  • Intel CEO buys into dip

    Intel Stock gapped down on 26 January following the chip makers outlook for Q1 2024, which lagged analysts’ forecasts. However, it is notable that the company’s stock price nearly doubled in 2023, surging by 91%.

  • Job numbers surprise massively to the upside

    The jobs data came in exceptionally hot today. The non-farm employment change printed at 353K, which is almost double the market expectation of 187K. The unemployment rate was 3.7%, lower than the 3.8% anticipated and monthly average hourly earnings is double expectations at 0.6%. Last month's non-farm employment change was also revised higher to 333K.

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