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 Fed has moved towards aggressive tightening, with a balance sheet reduction from May and possibly two consecutive 50bps hikes. Elon Musk takes a 9% stake in Twitter but doesn't take a board seat. CPI is forecast to be higher than last month's print, and RBNZ, BoC, and ECB will release statements this week. Finally, this week kicks off Q1 earnings.
The Fed needs to anchor the inflation spiral before it gets out of control.
Bitcoin pulls back, as Treasury Secretary suggests regulation.
The Fed is looking to reverse the stimulus pumped into the economy during the pandemic. Quantitative easing is an unconventional monetary policy tool that may have unintended effects. The Fed's extreme may be partly to blame for the rampant inflation, as it played out in conjunction with a massive fiscal push. Unfortunately, quantitative tightening seems to be the other side of the same coin
The Fed minutes for the March meeting indicate that the Fed balance sheet reduction is likely to progress sooner than expected. Whilst no concrete plan had been finalised, the minutes note that the process could begin “as early as after the conclusion of its upcoming meeting in May.”
Nasdaq reacts of of key Fibonacci level.
Bitcoin accumulation casts doubt on Fed's ability to be aggressive.
FXCM's weekly DAX CFD, GER30, has pulled back to the 61.8% retracement (blue horizontal) of the previous impulse move.
If the index can maintain its area of strength, this may be a "buy the dip" opportunity.
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