Market Outlook

“Soft CPI data from US may derail bulls as Fed might look into softer approach.” Greenback falls through with USDCHF tanking at eight months low after US releases softer than expected CPI data. According to US Department of Labor, Core Consumer Price Index for November came in at 0.2%, lower than expected reading of 0.3%. The data signifies the effect from aggressive Fed in raising

“The appeal for Japanese Yen dulls further with subsequent rebound in risky assets.” Risk appetite continues to improve in the market, apparent by recent selloffs in safe havens such as the Japanese Yen. The pair of CADJPY moves away from multi-months low with a prominent comeback, concurrent with a recovery in Canadian dollar that were spurred by a halt in oil price’s decline. For the

“Gold price stuck as the market waits for the next key data from the United States.” Gold price oscillates near key resistance level as market participants awaits the latest inflation report from the United States. Previously, US inflation showed some depreciation, a possible reflection of recent rate hike aggressiveness from the US Federal Reserve. The data will play significant role in

“Japanese yen in demand after Putin suggested the usage of nuclear weapon against Ukraine.” Risk aversion dominates the market, buoyed by bold claims from the Russian counterpart. According to reports, Russian President Vladimir Putin commented that Ukraine war may prolong due to current circumstances in the region. However, Putin warned that the usage of nuclear weapons has increased for

“World economics to determine the next move for safe-haven gold.” Gold price stabilizes below key resistance as investors await cues from major economies around the world. Pessimistic sentiment surrounds the market due to possible economic downturn as inflation remains high although central banks around the world initiated a series of policy tightening. At the same time, Fed members

“Market triggered by hawkish comment from RBA, sparking high demand on AUD.” Reserve Bank of Australia continues to itch the market as they left the door open for more speculation. Earlier this morning, the central bank raised interest rates by 25 basis points, matching economist’s forecast. At the same time, RBA members signalled to raise interest rates further in the coming period,

“Euro stood tall as ECB may gear up to address rising cost of living which is widespread across Europe." During European trading session, EURUSD uphold its previous ascend above 1.05 mark as market participants remains optimistic towards European Central Bank (ECB). Prior, ECB member Gabriel Makhlouf commented that the minimum rate hike for upcoming meeting will be 50 basis point as

“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

“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

“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