Market Outlook

Market Outlook | Daily Forex Technical Analysis & Forecast | ZFX
Gold may rise further in the future.
“Fed sends out doves after inflation starts to retreat.” Gold bulls cheered as market participants speculate an imminent change in Federal Reserve future course of action in terms of policy setting. Recently, Fed Chair Jerome Powell signalled that “a slowing down may be relevant in order to balance the risks”. His latest comment suggests higher possibility of a less aggressive Fed in the upcoming policy meeting, coinciding with deceleration of inflation for October’s PCE Index.
02-12-2022 09:48
Market Outlook | Daily Forex Technical Analysis & Forecast | ZFX
Will USOIL survive its latest rebound?
“USOIL rejoice as OPEC+ and China provides positive sentiment towards exhausted market bulls.” USOIL stages its rebound during European trading session, celebrating over an array of positive news in the market. According to reports, OPEC+ may not alter their daily production level in the upcoming meeting, a sign of relief for oil bulls. On the other hand, China has recorded a downtrend in coronavirus cases, signaling possible loosening in lockdown restrictions. Quick recap on
30-11-2022 10:49
Market Outlook | Daily Forex Technical Analysis & Forecast | ZFX
USDCHF slumps downwards, but will it last?
“China recent lockdown and protest sparks risk-off sentiment, shining the limelight on safe-havens.” Swiss franc aims to thread lower as the market was spooked by civil unrest in China due to harsh anti-Covid restrictions. Last weekend, scuffle occurred in several cities in China after rising coronavirus cases prompted local government to enact total lockdown. Recent happenings have dialled down market expectation towards China economy and at the same time, raising the demand for
28-11-2022 09:15
Market Outlook | Daily Forex Technical Analysis & Forecast | ZFX
Just as it hits new high, NZDUSD backs off.
“Rising coronavirus cases in China triggers a shift in market sentiment that emphasize favor towards safe havens.” New Zealand dollar edged down slightly during European trading session as the market weighs on rising economic concern in China. Lately, China has recorded an upsurge in coronavirus cases which prompts the government to impose strict lockdown measure. The economy has suffered from several local lockdowns in the past, which jeopardizes market sentiment. Recent developments
25-11-2022 10:42
Market Outlook | Daily Forex Technical Analysis & Forecast | ZFX
USDJPY relinquished after Fed minutes shows dovish tilted signal.
“Fed minutes shows possible slowdown in policy tightening, pushing greenback downwards.” US dollar tumbled across the board soon after Federal Reserve released their latest minutes from November’s meeting. From the minutes, Federal Reserve raised its interest rates by 75 basis points last month to combat rising price of goods across the nation. The minute also shows that Fed officials are satisfied with the move and suggested to stop large increase and move towards smaller actions
24-11-2022 03:51
Market Outlook | Daily Forex Technical Analysis & Forecast | ZFX
EURUSD dejected after covid cases surge in China.
“Bears pushes euro downwards as China recorded a surge in coronavirus cases.” Euro struggled to make any substantial gains against the greenback as risk aversion sentiment dominates the financial market. According to reports, China has recorded a significant jump in daily coronaviruses cases with two virus-led death on Monday. The report sparks concern over the government’s action which may impose strict lockdown to contain its spread. Nonetheless, losses on the euro were cushioned by
22-11-2022 02:48
Market Outlook | Daily Forex Technical Analysis & Forecast | ZFX
USDCAD may plunge even further into the oblivion.
“US dollar tumbles as focus redirected back to risky assets, Canada data in view.” Greenback struggled against its major peers after US government downplayed the significance of missile strike that was launched towards one of Poland’s villages. Following the announcement, fear in the market recedes substantially, reducing the premium for holding greenback as safe-haven asset. On the other hand, investors are currently waiting for the release of CPI data from Canada to gauge Bank of
16-11-2022 10:50
Market Outlook | Daily Forex Technical Analysis & Forecast | ZFX
Strong footing seen, NZDUSD may extend it further.
“US dollar pullback eyed as no new signal was delivered by Fed official’s comment.” New Zealand dollar kickstart the day with substantial bullish momentum despite hawkish signal from Fed official. According to report, Fed Vice Chair Lael Brainard commented while they may reduce the pace of rate hikes, she still supports the case for a 50-basis points increase. She also emphasized that the Fed may not ease that easily and acknowledged that “many works are yet to be done” in terms
15-11-2022 10:05
Market Outlook | Daily Forex Technical Analysis & Forecast | ZFX
AUDUSD ascend halts after Fed reaffirms the market.
“Greenback climbs back up, while the market awaits more data from the United States.” US dollar nursed its losses earlier today as recent comments from Federal Reserve official revived bull’s quiver to thrust forward one more time. Recently, the release of October’s CPI from the US has tempered market’s expectation towards the greenback after showing slight retreat from the peak. Nonetheless, Fed Governor Christopher Waller commented that the market should not get carried away
14-11-2022 09:38
Market Outlook | Daily Forex Technical Analysis & Forecast | ZFX
GBPUSD thrust forward as BoE signaled more rate hikes.
“BoE flames up the market with more interest rates ahead, bulls cheer by pushing sterling higher.” Bulls thrust forward on GBP/USD, buoyed by hawkish signal from Bank of England. According to reports, Bank of England Governor Andrew Bailey commented that “more interest rates increase is likely for the coming months”. Bailey also emphasized that their efforts to bring inflation under control may likely take 18 months to two years.   Quick recap on GBPUSD The pair recovered
11-11-2022 10:43