1️⃣ Asian stock markets closed lower, following Wall Street’s decline after the Fed said it would make a reduction in asset purchases this year.
1️⃣ USD surged as the Fed says it will do a reduction in asset purchases this year.
2️⃣ AUD declined amid concerns over the COVID-19 outbreak and despite better-than-expected employment data.
3️⃣ Safe-haven currencies (JPY & CHF) soared amid negative sentiment on market.
1️⃣ Crude oil prices fell below the $64 per barrel, following concerns about the rapid spread of COVID-19 around the world, forcing some countries to impose restrictions at the border.
2️⃣ Gold slipped below the $1,780 level, amid concerns of a COVID-19 spread and a surge in the US dollar.
Economic Data Focus On Today
1️⃣ FOMC Meeting Minutes for July (02:00 Malaysia Time) — No Prediction — No prediction from the central bank.
2️⃣ Australian Employment Data for July (09:30 Malaysia Time) — Bearish Prediction — The latest lockdowns in the country may hurt labor markets.
3️⃣ US Philly Fed Manufacturing Index for August (20:30 Malaysia Time) — Bearish Prediction — Empire State Index declined.