Market Outlook

Market Outlook | Daily Forex Technical Analysis & Forecast | ZFX

ZFX: Second wave of pandemic becomes key focus for investors again

The second wave of the coronavirus outbreak in the US is still deteriorating, turning the market back to a bit bearish condition. Stocks in Asia Pacific region generally fell on Tuesday, following the momentum of Monday’s drop of the US stocks, despite the hopes of vaccine.

Market Outlook | Daily Forex Technical Analysis & Forecast | ZFX

ZFX: Renewed fears of the pandemic? Still tech stocks?

On Friday Asian session, the stock markets are overall following the momentum of Thursday’s night. The performances of the three major indexes on Wall Street were mixed, which the Dow dropped more than 300 points, while investors continually chased tech stocks.

Market Outlook | Daily Forex Technical Analysis & Forecast | ZFX

ZFX: Bullish again? Dollar slips as optimism recovers

ISM figures showed that the US service industry resumed to the pre-pandemic level in June, rising to 57.1, beating the expectations around 50.2. It boosted the market confidence in “quick” economic recovery from the pandemic, supporting the buying interest.

Market Outlook | Daily Forex Technical Analysis & Forecast | ZFX

ZFX: Ranging market pattern maintains due to the “choppy” sentiment

On Tuesday, stock markets in Asia Pacific Region generally edged higher as the housing data in the US announced last night boosted new optimism. Even though the second wave of pandemic sparked bearish sentiment, investors once again betted on the “quick” economic recovery. The three major Wall Street indexes all rose more than 1%, of which the Dow jumped 580 points, up more than 2.3%.

Market Outlook | Daily Forex Technical Analysis & Forecast | ZFX

ZFX: Weak dollar propped up risk appetite

Risk-on sentiment continued on Tuesday, as the market expects the White House will soon launch another economic stimulus package to tackle the pandemic-driven recession. On the other hand, Trump and his administration clarified the trade deal with China is “fully intact”, assuring the whole market. All three Wall Street indexes rose on Tuesday, of which the Nasdaq advanced 0.74%.

Market Outlook | Daily Forex Technical Analysis & Forecast | ZFX

ZFX: 9 million confirmed cases! Risk-off sentiment dominate?

Market sentiment improved on Friday earlier session as the investors believed that the China-US tension eased after the closed-door meeting in Hawaii. It is reported that China will accelerate the purchases of the US agricultural products, which boosted the Wall Street. However, the risk of the second wave of coronavirus pandemic sparked the fears. Three major indexes lost all the gains in the late session.

Market Outlook | Daily Forex Technical Analysis & Forecast | ZFX

ZFX: Ranging pattern? No clear direction before big news

The rise in new coronavirus cases is now one of the key concerns again, with more than 8.4 million confirmed cases worldwide and more than 450000 deaths. The risk of reopening economic activities is going to be higher and higher, which may slow down the recovery unless the vaccine has been developed.