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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  • 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.

  • ARM price surges as it crushes forecast.

    The price of ARM Holdings shares jumped following its earnings release. For the December quarter, the company reported $824m in revenue, which crushed expectations of $726m. Adjusted EPS were 29 cents versus consensus of 25 cents.

  • 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.

  • BoE holds rates steady but its tone was more hawkish than expected

    The Bank of England held the official bank rate at 5.25%, with Catherine Mann and Jonathan Haskel being the only two hawks favouring a 25bps hike. This is more hawkish than expected as general thinking was that the three hawks that voted in December would relent. Moreover, the statement indicated that the central bank was still concerned over the persistence of inflation, with the forecast for inflation pushing back against…

  • Bitcoin climbs as risk-on sentiment maintains

    Bitcoin has appreciated as a general risk-on sentiment has grown and will react to the FOMC rate announcement tomorrow. In this regard, it is anticipated that yields will decline over the course of 2024, which should provide a tailwind to the risk market, including cryptocurrencies.

  • USDOLLAR charts bearish wedge pattern into Wednesday’s FOMC statement

    Core PCE has come in at 2.9% y/y, with a strong showing in disinflation towards the Federal Reserve’s target of 2%. The monthly number is 0.17%, which annualises to 2.01%. There is a general confidence that the Federal Reserve is well on its way to hitting its inflation target, with the market currently giving a 50-50 chance of a 25bps cut in March and a 90% chance in May.

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