Market Outlook

“Gold price rose to its highest level in three weeks, buoyed by slacking dollar-bulls and downbeat data.” Greenback suffered a major loss for the week as recent economic data shows signs of diminishing labor market. Nonetheless, Fed officials came in to quell the market after Mary Daly commented that “there is still a lot of room to slow the labor market before entering into severe

“Greenback towed away by bears, leaving the way for euro’s brief ascension.” Euro resumes its recovery from lower boundary as greenback experienced intense sell-off towards fresh weekly low. Investors began to layoff some of their greenback holdings after ISM Manufacturing PMI came in lower than expected. This may show the after-effects of Fed raising interest rates

“Tesla latest earnings report posts significant growth albeit lower than consensus.” Tesla share price nosedived last week following the release of quarterly earnings report which worries investors. The Texas-based electric vehicle maker delivered 343,830 units in third quarter, which translates to 42% of growth. However, the company missed forecast of 359,000 units, which Tesla places

“Greenback took a breather as investors begin to cash in their profit while waiting for next market mover in the near future.” Greenback lost its bullish trajectory as investors continues to cash in their profits while waiting for upcoming data from the region. The currency suffered from slight loss as GDP contracts for the second quarter although employment market remains robust due to

“Promising inventories data raised investor’s sentiment, “temporarily”.” Oil prices stages a rebound from the downside as latest US inventories data shows a decline, sparking bulls to re-enter their position into the commodity. Latest report shows a significant drawdown as recent hurricane which ravage through Gulf of Mexico causes disruption in oil rig operations. Nonetheless,

“S&P500 spells trouble as optimism towards Fed aggressive mode hurts sentiment towards US equities.” S&P500 plunge to its lowest level in almost two years as investors worry that a super aggressive Fed in tightening monetary policy may jeopardize business earnings and growth. Equities in US came under pressure since last two months after several Fed officials raised their concern

“Greenback retraced slightly, but for how long?” Most non-US currencies took a breather as dollar-bulls paused its rally below 20-years high. Nonetheless, market expectations towards Federal Reserve remains optimistic as the central bank is expected to raise interest rates further. Moreover, rising concern over global recession has prop up the greenback due to its nature as one of the

“Gold price lost its footing as market prefers greenback due to hawkish tilt from Federal Reserve.” Safe-haven bullion loses its footing last week, tumbling down to 29 months low as the market shifts its limelight towards the greenback. Last Friday, Federal Reserve Chairman Jerome Powell reiterated that they are committed to “use their tools”. Following his remarks, Vice Chair Lael

“AUDUSD punished as market sentiment is geared towards the greenback following Fed’s policy meeting.” Australian dollar suffered losses despite slight improvement in both manufacturing and services sector. For the past week, greenback garnered higher bids across the board as the market expects more interest rates hike from the Federal Reserve. Nonetheless, investors will place their

“Federal Reserve’s decision and statement prompts major selloff on non-US currencies, further cementing greenback’s dominance in the FX market. Following Federal Reserve’s interest rates decision, Euro and other major currencies experienced major selloff during yesterday’s American trading session. In its statement, Fed officials acknowledged that recent economic data point towards