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.
Page 38 of 101
Tesla easily beat estimates regarding its deliveries for the second quarter.
FXCM's USDOLLAR basket is consolidating sideways in a symmetrical triangle pattern.
The Federal Reserve’s preferred inflation gauge, the PCE shows contrasting trends between its headline number and the core print, which excludes volatile items such as food and energy.
On Wednesday, the Federal Reserve released the results of their annual bank stress test. All 23 banks that were included passed the test, weathering a severe recession scenario, continuing to lend to consumers and corporations.
The USDOLLAR reacted to the general hawkish tone by moving from its neutral channel, between the blue bands, into its bullish channel between the upper blue and red bands. Its daily RSI is above 50 (green rectangle). This is the bullish side of the oscillator. The longer it maintains on this side of 50, the greater the likelihood of further USDOLLAR appreciation.
Nvidia has gapped down on its open today following a report that the Biden administration may be considering a new ban on AI chips to China. The stock closed at 418.70 yesterday and opened on the cash market today at 406.60.
XAUUSD charted a series of higher troughs followed by higher peaks from the end of October last year to the end of April this year. This put gold into a defined uptrend. However, from May, this pattern started to show cracks, and eventually a lower trough (LT) was charted. This, in effect ended the pattern of higher troughs followed by higher peaks, and as such ended the precious metal’s uptrend.
The 02-year yield is a good proxy for central bank monetary policy. This is because the short end of the curve adjusts quickly to changes in the cost of capital. As such, we can look at the spread between two regions’ 02-year notes to get an idea on how the market views their respective monetary policies.
Last week, Fed Chair Powell testified on Capitol Hill with a hawkish testimony, but it was the UK inflation print and BoE’s 50bps hike that got the markets attention. This week is the ECB Sintra Forum with Wednesday scheduling a key panel discussion. Inflation prints out of the US, Canda, Australia, and Eurozone will be keenly followed with final GDP numbers out of the US and UK towards the end…
The dollar has shown minimal response to the aborted Wagner mutiny in Russia over the weekend. The restrained reaction likely indicates the uncertainty surrounding the future course of action following the recent challenge to President Putin's authority.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interests arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed here.