Market Outlook

Market Outlook | Daily Forex Technical Analysis & Forecast | ZFX
USDCHF subdued, waiting for Powell testimony.
“Powell testimony will bring significant impact upon US dollar’s long-term perspective.” Greenback remains subdued on Tuesday as market participants wait for testimony by Federal Reserve Chair Jerome Powell. Investors will focus on further signal from Powell with regards to Fed’s potential policy guidance in combating high inflation in the US. Although several Fed officials has voiced out their concern on inflation and calls for more rate hikes, investors will require a confirmation
07-03-2023 07:43
Market Outlook | Daily Forex Technical Analysis & Forecast | ZFX
Gold prices extend its rebound while market waits for testimony.
“Greenback down slightly as market waits for testimony, safe haven flourishes.” US dollar remain subdued on Monday while investors wait for testimony from Federal Reserve Chair Jerome Powell for more signal with regards to future policy. Last week, investors poured into the US dollar after meeting minutes shows Fed officials in favour of prolonging rate hike period in order to curb stubbornly high inflation. On the other hand, investors will also place their focus upon February
06-03-2023 08:31
Market Outlook | Daily Forex Technical Analysis & Forecast | ZFX
XAUUSD rejoice as market waits for more signal.
“Safe haven stages a rebound while market participants wait for Powell’s testimony.” Gold prices regain its upside momentum as US dollar begins to experience pullback due to depreciating Treasury bond yield. While market participants anticipates Federal Reserve to prolong its interest rate hike, they are currently waiting for more confirmation from other Fed officials especially Chairman Jerome Powell who is more tilted towards dovish. For the time being, investors will pay attention
03-03-2023 07:06
Market Outlook | Daily Forex Technical Analysis & Forecast | ZFX
NASDAQ tumbles as rate hike expectation rises.
“The financial market remains optimistic towards Fed in initiating more rate hikes ahead.” US equities finished lower on Wednesday after key manufacturing data from US offered mixed results. According to ISM, Manufacturing PMI rose to 47.7 for the month of February, albeit lower than expected reading of 48.0. While the data came in less than expected, it provides expectation for further improvement in manufacturing sector, which would reflect towards progressive economic growth. This
02-03-2023 08:23
Market Outlook | Daily Forex Technical Analysis & Forecast | ZFX
USDJPY on track to extend its gains?
“High expectations towards prolonged interest rate hike push US dollar upwards.” US dollar edges higher against other major currencies following high expectations for more interest rate hike due to stubbornly high inflation. Last week, Federal Reserve meeting minutes revealed that officials are concerned on inflation level which remains high. They conclude that a prolonged interest rate hike may be required to bring inflation down to their 2% target for the long-run. On the other hand,
01-03-2023 08:05
Market Outlook | Daily Forex Technical Analysis & Forecast | ZFX
GBPUSD stages a rebound after new trade deal was reached.
“New trade deal for Northern Ireland skims out impasses which lasted for several years between UK and EU.” Pound sterling rebounds from prior low levels after UK and EU struck a new trade deal with European Union post Brexit. The new trade deal is known as Windsor Framework, which encompasses new trade rules for Northern Ireland. The deal was monumental as both parties were in dispute with regards to trade arrangement for Northern Ireland which started since Brexit was announced soon
28-02-2023 07:18
Market Outlook | Daily Forex Technical Analysis & Forecast | ZFX
AUDUSD falters as recent came in favour for prolonged rate hikes.
“Fed preferred inflation data stoked higher expectation for prolonged rate hike in the long run.” US dollar held on to its gains near seven-week high as Fed preferred inflation data reinforced the expectations for more rate hikes. According to reports, Personal Consumption Expenditure (PCE) price index rose 0.6% last month, significantly higher than previous month of 0.2%. The uptick in prices were stoked by higher consumer spending, which jumped around 1.8% in January. Moreover, the
27-02-2023 09:19
Market Outlook | Daily Forex Technical Analysis & Forecast | ZFX
USDJPY may extend its gains after Fed minutes spur high expectations.
“Investors expects Federal Reserve to raise interest rates until inflation achieved the target of 2%.” US dollar cling onto its gains, spurred by Federal Reserve’s latest meeting minutes and strong employment data from the United States. In terms of meeting minutes, Fed officials suggests to prolong the period of rate hikes as US inflation remains stubbornly high. They also noted that recent data did not suggest the case for an extended depreciation in terms of inflation and it may
24-02-2023 06:59
Market Outlook | Daily Forex Technical Analysis & Forecast | ZFX
Did Fed finally showed off their hawkish cards?
“Fed officials are seeking controlled rate hike for an extended period in order to achieve their inflation target.” US dollar climbed further up on Wednesday after Federal Reserve latest meeting minutes shows possibility for a longer period of rate hikes. From the minutes, several officials suggested that it would be wise to raise interest rates at a restrictive manner to assess the economy’s progress in bringing inflation target down to 2%. Likewise, some officials also noted that
23-02-2023 08:19
Market Outlook | Daily Forex Technical Analysis & Forecast | ZFX
Will gold price stage a comeback if Fed minutes disappoints?
“The bullion stuck in a tight range while the market waits for more signals from Fed meeting minutes.” Gold prices remain pressured at six-week low on Wednesday while market participants remain cautious ahead of Federal Reserve’s meeting minutes. The safe-haven asset trades in a sideways fashion since last week as investors assess the possibility of Fed in changing their policy guidance over a slew of strong economic data. At the same time, doubts were present as recent speech from
22-02-2023 03:59