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Market Outlook

Market Outlook | Daily Forex Technical Analysis & Forecast | ZFX
US dollar tumbles as investors shift focus.
“Heat upon greenback cools, all eyes on future data.” US dollar loses its steam, trimming off further gains and recording its worst week since early February. Investors shifted their focus towards other risky assets as they may have fully digested the possibility for more aggressive rate hike from the Federal Reserve. Likewise, as Fed’s decision is solely dependent on future US data, investors shifted their focus for the time being before placing the limelight back upon
20-05-2022 09:53
Market Outlook | Daily Forex Technical Analysis & Forecast | ZFX
Market began to price-in aggressive approach from Fed.
“Greenback gave up as market participants turn away.” Greenback faces hurdle from the upside as it began to falter during European trading session. Last week, Federal Reserve Chair Jerome Powell signalled for an aggressive approach in monetary policy to curb stubbornly high inflation in the US. While his comment sparked a major appreciation on the greenback, investors began to price-in on that matter. Today, investors will place their attention upon meeting minutes from the European
19-05-2022 10:11
Market Outlook | Daily Forex Technical Analysis & Forecast | ZFX
WTI up as sentiment improves towards China.
“Shanghai lockdown restriction eases, spurring optimism among market participants.” Oil bulls extended their climb on Wednesday as market sentiment towards China improves. Yesterday, sources revealed that Shanghai local government has allowed financial institutions to resume their work in office. The decision was made after Shanghai recorded zero coronavirus cases for three consecutive days outside of quarantine area. The news raised optimism among traders as easing of restriction could
18-05-2022 10:15
Market Outlook | Daily Forex Technical Analysis & Forecast | ZFX
Greenback slipped, Fed speech in focus.
“Risk appetite increases due to lack of catalyst.” The US dollar slipped against other major currencies on Tuesday, trimming prior gains as investors continued to cash out their profits. Economists postulate that recent retracement is likely to be temporary as the market lack of new catalyst to push the currency higher. Nonetheless, US dollar is expected to find its support in the mid to long-term due to robust economic performance when compared with other countries. This week, traders
17-05-2022 09:27
Market Outlook | Daily Forex Technical Analysis & Forecast | ZFX
Greenback tops at 2 decades high.
“Federal Reserve is one of the most aggressive central banks in combating flaring inflation.” While greenback experienced slight depreciation, the currency remains hovered near 20-years high during European trading hours. Market sentiment shifted dramatically towards the currency after Federal Reserve Chair Jerome Powell cemented the course for further rate hikes. Although Powell refuted the idea for 75-basis point rate hike, he commented that it would be appropriate for additional
13-05-2022 09:55
Market Outlook | Daily Forex Technical Analysis & Forecast | ZFX
Euro sinks as risk aversion dominates the market.
“The pair losses its grip, its lowest level in 4 years.” Risk aversion continues to take the lead, pushing Euro to its lowest level since January 2018. Geopolitical tension remains at the forefront as European economy may suffer the most from Russia-Ukraine crisis. Recently, European Union has proposed a comprehensive embargo on Russia, hoping to stop importing oil from the country by the end of the year. However, economists fear the action may jeopardize Europe’s economy as the bloc
12-05-2022 10:32
Market Outlook | Daily Forex Technical Analysis & Forecast | ZFX
Pound sterling falters as central bank struck dovish tone.
“BoE dovish tilt continues to weigh upon pound sterling.” Bear market continued their agenda upon pound sterling despite recent rate hike from Bank of England last week. During the latest policy meeting, BoE maintained their forward guidance, deeming further policy tightening remains a “possibility”. However, the central bank cut its medium-term inflation forecasts due to ongoing risk and hurdles in the global market. BoE expects economic contraction of 0.25% in 2023 while inflation
11-05-2022 09:32
Market Outlook | Daily Forex Technical Analysis & Forecast | ZFX
Greenback Shines as Market Sentiment Shifts.
“China lockdown and economic tension in Europe threaten the market.” The financial market slumps into turmoil as equities slid further into oblivion while greenback touches a two-decade high. A series of hawkish signals delivered by the Federal Reserve switched investors’ perceptions, piloting their focus towards the greenback. Subsequently, China’s latest trade data for April came in with a single digit of 3.9%, its lowest since June 2020. The data raised concerns as negative
10-05-2022 06:51
Market Outlook | Daily Forex Technical Analysis & Forecast | ZFX
China slows, Aussie tumbles.
“China exports slowed; imports flatten in April.” Greenback soared to its highest level in two decades as traders seeks for safety due to global economic slowdown concerns. Earlier today, China latest data shows slower export growth since June 2020, coming in at single digit of 3.9% for April. The data has raised traders’ eyebrows as repercussions from recent lockdown began to slip into their economic momentum. Likewise, the data came in contrast as to recent data from the US. Last
09-05-2022 09:08
Market Outlook | Daily Forex Technical Analysis & Forecast | ZFX
China Covid woes spur risk aversion.
“No end in sight for coronavirus infection in Beijing – said locals.” Beijing local government began to shut down public transport and extended restrictions on public venue last Wednesday. The effort was taken to contain coronavirus infections while at the same time, avoiding the same fate bestowed upon Shanghai – lockdown which lasted more than a month. Dozens of new cases pop up each day, in which the local government hoped mass testing and contact tracing would help to minimize
06-05-2022 03:50