OctaFX Malaysia 2023 Outlook
KUCHING, MALAYSIA Media OutReach 13 January 2023 The events of 2022 profoundly changed the world and financial markets. Geopolitical tensions escalated worldwide while record inflation in many industrialized economies caused unprecedented rate hikes, energy crises, and drastic shifts in global trade flows.
OctaFX is a global broker providing online trading services since 2011. It offers commission-free access to financial markets and various other services, which have been utilized by clients from more than 150 countries.
1. Covid-19
On January 13th 2023, OctaFX’s financial experts believe the events of 2022 have set in motion a worldwide recession that may begin around 2023. Based on data from the S&P 500, Dow Jones Industrial Average 30, and some European exchanges, these indicators suggest this could be the beginning of something truly historic — an international economic downturn!
Covid-19 is a coronavirus that mutates, making it more difficult for the immune system to combat. Vaccination is the best way to protect yourself against Covid-19 and ensure you remain healthy.
According to CDC guidance, individuals who have never been vaccinated or tested negative for Covid-19 should avoid attending gatherings where they could be exposed to the virus and should self-isolate for five days after exposure.
The Union Cycliste Internationale (UCI) has released an updated health protocol for 2023 cycling events, which applies to all road races registered on the UCI International Calendar. You can find it in full detail on their website.
2. Malaysia’s 15th General Election
In November 2018, after three different prime ministers since 2018 and lockdowns due to the Covid-19 pandemic, Malaysia held its 15th General Election. No coalition secured enough votes for government formation but Datuk Seri Anwar Ibrahim’s reformist Pakatan Harapan (PH) was called upon by King of Malaysia to form a united government.
The PH coalition’s election message was simple: «Return PH to power» and affirm their dedication to multiracial politics. This election marked an important victory for the party, which had been struggling to make headway since losing control of its government in 2020.
The Barisan Nasional coalition, led by the dominant United Malays National Organisation (UMNO), is seeking a larger mandate after years of turmoil and political instability. They are campaigning on the promise of «stability and prosperity» despite numerous corruption scandals which have damaged their image and left them with just 30 seats in parliament.
3. Datuk Seri Anwar Ibrahim’s Swearing-In as Prime Minister
The events of 2022 shocked the world — from Russia’s war on Ukraine to rising food prices and higher interest rates. While some of these shocks have been absorbed by the global economy, others are hitting financial markets harder than ever before.
In Malaysia, Anwar Ibrahim was appointed prime minister after being conferred with other rulers at a special meeting of the Council of Rulers. Although Anwar Ibrahim had long been seen as an adversary by political elites, King Abdullah agreed to his appointment after consulting with other rulers during a rare hung parliament.
Anwar’s Pakatan Harapan coalition won the most seats in Malaysia’s 15th general election, and he will now be sworn-in as its tenth Prime Minister on Thursday at 5pm local time.
4. Unity Government
National unity governments are typically formed during times of war or other national emergencies. These coalitions can be made up of one party or multiple parties with a shared political and/or ideological platform, but usually lack the parliamentary majority needed for effective governance.
National unity governments are often preferred in multiethnic, religious states and consensus democracies, since it allows multiple political groups to work together on shared interests. Unfortunately, such governments are rarely seen in Western democracies because they typically have strong traditions of party competition and partisan rivalries.
Prof Weiss believes Malaysia’s government could potentially break through its current impasse by joining forces with Perikatan Nasional (PN) and Pakatan Harapan (PH) coalitions, but it will require several leaders to come together and work toward reaching consensus on a vision for the country’s future.
5. Foreign Exchange Market
Jan 13, 2023 KUALA LUMPUR, MALAYSIA Media OutReach 13 January The events of 2022 left a profound mark on the world and financial markets alike; particularly energy crises, record inflation in most industrialized economies, and major shifts in global trade flows. OctaFX asked its financial experts for their predictions for the upcoming year — but first what do they think about the current state of the economy?
The broker’s research is well-organized, from daily analysis posts to weekly forecast articles and economic calendars. It also features an interest rates tracker as well as automated technical analysis via MetaTrader’s Autochartist plugin.
6. Trade War Between China and the U.S.
On January 13th 2023 in Kuala Lumpur, Malaysia Media OutReach will discuss the events of 2022 that caused such global shockwaves, specifically regarding #6: Trade War Between China and U.S.
The US-China trade war has caused a global economic slowdown and is impacting every country, industry and market. President Trump has declared that «trade wars are beneficial and easy to win,» yet the costs are beginning to become apparent.
The tariffs on Chinese goods have had an adverse effect on US manufacturers who depend on inputs from China for production. As a result, they are experiencing sales declines both within the country and abroad due to higher input prices.
7. Global Inflation Rate
The events of 2022 had an immense impact, particularly on the financial markets, which are still talking specifically about 7.
Last year, global inflation reached record-high levels. This was primarily driven by food and energy prices; however, the IMF’s World Economic Outlook noted that core inflation — which excludes food, energy, housing prices and transport expenses — also played a significant role in driving up inflation rates.
Inflation pressures are expected to ease in the coming months due to stabilization in commodity prices, eased global supply chain constraints and improvements in global trade. Nonetheless, potential energy shocks, tight labor markets and further supply chain disruptions remain as potential risks that could impact global price pressures.
8. Brexit
2022 was a transformative year in many aspects; it saw Russia’s war against Ukraine, global energy crises and trade disputes between the EU and United States come to the fore. It will always remain an unforgettable year.
OctaFX is a global broker providing online trading services since 2011. It provides commission-free access to financial markets and an array of other services that have been utilized by clients from 150 countries.
OctaFX, licensed and registered in St. Vincent and the Grenadines as Octa Markets Incorporated, supports deposits/withdrawals to Malaysian bank accounts and provides 24 hour live chat and email support. Its website is available in Malaysian Melayu as well.
9. Eurozone Debt Crisis
The events of 2022 caused global shockwaves, especially in the financial markets. This crisis was caused by high sovereign debt levels and deficit spending combined with increasing borrowing costs.
Eurozone governments’ inability to meet repayment obligations on their debt caused a downward spiral, forcing some affected countries to seek bailouts.
Greece, Ireland, Portugal, Cyprus and Spain all sought emergency assistance to help them recover from their fiscal crises. The European Union (EU), along with international lenders like the International Monetary Fund and World Bank provided financial support.
In an effort to stabilize market volatility, the European Central Bank began purchasing government bonds on the secondary market. This commitment eventually resulted in lower borrowing costs for struggling eurozone countries.
10. OctaFX’s Annual Retrospective
On January 13th 2023 in Kuala Lumpur, Malaysia Media OutReach will reflect upon the events of 2022 that shaped our world and how financial markets responded. OctaFX’s Annual Retrospective takes a look back at all that transpired throughout the past year to provide an insightful reflection.
In 2022, OctaFX released its proprietary trading platform — OctaTrader — to assist traders in making informed decisions and mitigating potential risks. This platform is fully integrated with other apps and web services provided by the broker, creating a streamlined trading experience.
In 2022, OctaFX plans to further enhance its charitable initiatives with educational infrastructure improvements and short-term relief projects for local communities. These actions are in line with the broker’s core values and long-standing dedication to corporate social responsibility.