Market Outlook

Market Outlook | Daily Forex Technical Analysis & Forecast | ZFX
ZFX: Covid-19 vaccine hopes drove the markets!
A big positive news drove the market move on Monday. Moderna, a Biotech company in the US, reported that the result of the phase 1 human trial for its coronavirus vaccine candidate was positive, which lifted the market sentiment. The Wall Street three major indexes soared, of which the Dow jumped nearly 4%, closed 911 points higher.   On the other hand, investors are now looking forward to the reopening of the global economies, further boosting risk appetite.   ZFX analyst
19-05-2020 06:34
Market Outlook | Daily Forex Technical Analysis & Forecast | ZFX
ZFX: China-US tensions boosted safe haven demand! Precious metal is testing higher
Friday (May 15) Review     Market sentiment turned to positive on Friday, supporting the three major Wall Street indexes regained the lost made in the early session. Investors were cautious but they are still looking forward to the reopening of the global economy.   Although the bearish factors seem to be more obvious, investors now are expecting more stimulus policies ahead, especially after the bleak economic figures like retail sales of US in April, which falling
18-05-2020 04:20
Market Outlook | Daily Forex Technical Analysis & Forecast | ZFX
ZFX: Merger speculation overshadowed those negative factors
Thursday (May 14) news review     There was a rumor about the investment bank Goldman Sachs may merge with Wells Fargo to enhance its competitiveness. The rally of bank stocks boosted the Wall Street sentiment.   The initial jobless claims in the US totaled 2.98 million, which was a drop for six consecutive weeks, but still higher than expectations of 2.5-2.7 million.   The June contract for WTI crude futures surged 9%, breakthrough $27 level. The hopes
15-05-2020 04:39
Market Outlook | Daily Forex Technical Analysis & Forecast | ZFX
ZFX: Powell’s remarks turned the sentiment bearish
Wednesday (May 13) Review     Fed Chairman Powell said that the economic outlook of US was highly uncertain and subject to significant downside risks. He believed that more stimulus measures are needed to ease the economic downturn from the global pandemic. His pessimistic speech hit the market sentiment. In addition, he pointed out that the Fed was not considering negative interest rates as one of the tools.   US President Trump said he disagrees with Powell about
14-05-2020 05:04
Market Outlook | Daily Forex Technical Analysis & Forecast | ZFX
ZFX: Market remained cautious ahead of Powell’s speech
Tuesday (May 12) Review   Market sentiment became cautious on Tuesday. The Volatility Index (VIX) bounced back and all three Wall Street indexes dropped, of which the Dow lost more than 450 points. Investors are worried the second wave of coronavirus infections, especially after the reopening of the US economy. White House health advisor Fauci warned that the outbreak in the US has not yet under controlled, and the situation may deteriorate if the economy restarts too soon. The
13-05-2020 04:23
Market Outlook | Daily Forex Technical Analysis & Forecast | ZFX
ZFX: Dollar gained while risk aversion recovered
Monday (May 11) news review     The market is concerning the rising tension between China and the US, triggering risk aversion. Earlier, US President Trump said that he is having “a very hard time with China”. He also said that he hasn’t decided how to deal with the trade relationship, showing doubt of the implementation of the phase 1 trade agreement. On the other hand on Monday, Global Times quoted source from Chinese officials, saying that “more hawkish voices have
12-05-2020 03:20
Market Outlook | Daily Forex Technical Analysis & Forecast | ZFX
ZFX: Optimism move? Investors start to bet on future
Friday (May 8) Review     The Nonfarm Payrolls last Friday showed 20.5 million job cuts in April, the biggest drop in history since 1939. However, the figures are still better than the expectations of 21.5 million job cuts. The unemployment rate skyrocketed to 14.7%, the highest level since the Great Depression, which was still lower than market expectations of 16%.   Overall the NFP result was not as bad as expected, boosting the sentiment. Also, investors are now
11-05-2020 04:52
Market Outlook | Daily Forex Technical Analysis & Forecast | ZFX
ZFX: Negative interest rates by Fed? Another shock for the markets
Thursday (May 7) Review    Oil prices retreated all the gain in earlier session after the announcement of the poor US employment figures. The June contract of WTI crude futures edged lower finally, dropping from $26 level. Saudi Arabia has raised the crude oil price of its export to Asia for June, which was just bullish in a very short term.   The initial jobless claims fell to 3.169 million last week, a drop of five consecutive weeks, which was still more than the
08-05-2020 04:25
Market Outlook | Daily Forex Technical Analysis & Forecast | ZFX
ZFX: Horrible ADP! Risk off ready
Wednesday (May 6) news review     Oil prices finally closed lower, ended the rally of five consecutive days. The June contract for WTI crude futures was facing obvious bearish correction after jumping above the $26 mark. The inventory report of EIA showed that the distillate stockpiles surged over 9.5 million barrels, far exceeded market expectations, which dampened the rebound of oil prices.   President Trump said that he would review the Phase 1 trade deal signed in
07-05-2020 03:47
Market Outlook | Daily Forex Technical Analysis & Forecast | ZFX
ZFX: Oil prices remain in focus, propping up the market sentiment
Tuesday (May 5) Review     Oil prices continue the rebound “move”. The June contract of WTI crude futures surged over 20% again, a big rally of 5 consecutive days, which is supportive to the market sentiment. The market is still looking forward to the reopening of the global economy thus pushing the energy demand, boosting the oil prices. It is reported that President Trump is considering next economic stimulus package, which mainly involves tax cut. Fed Vice Chairman Clarida
06-05-2020 06:53