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Financial market predictions for 2025 by global broker Octa
‘If you were to ask me what will be the key driving theme of 2025, I would say it will be the after-effects of the U.S. presidential elections’, says Kar Yong Ang, a financial market analyst at Octa broker, adding that Donald Trump’s proposed policies provide more uncertainties than opportunities. Indeed, it is the risk of rising inflation induced by new trade tariffs and immigration policies that separates an optimistic 2025 scenario from a pessimistic one. Before we start analysing the likely scenarios for 2025, let’s first look at the current economic conditions.
Current situation
Interest rates in most industrialised economies are currently 75-100 basis points (bps) below their recent peaks. However, real interest rates (adjusted for inflation) are still positive. As Kar Yong Ang explains: ‘If history is any guidance, interest rates are still relatively high. In fact, I think they are more restrictive than stimulative and will most likely continue to go down in 2025’. In fact, at the time of writing, the fixed income market (interest rate swaps) was implying a further 50 bps of cuts from the Federal Reserve (Fed), 100 bps from the European Central Bank (ECB), 50 bps from the Bank of Canada (BoC) and 50 bps from the Bank of England (BoE). As a result, the monetary policy divergence between the Fed and the rest of the world has pulled the U.S. Dollar Index (DXY) to a multi-month high.
U.S. stocks have performed very well over the past two years. However, the bullish trend in the S&P 500 and NASDAQ is beginning to show signs of exhaustion, especially after the Fed indicated that it intends to slow the pace of future rate cuts.
Gold (XAU) was moving in a very well-defined bullish trend for most of 2024 and set a new all-time high at the end of October. However, the volatility in gold started to increase after the U.S. presidential election brought policy uncertainty. Currently, XAUUSD finds itself in a sideways market, trading range-bound between 2,550 and 2,720, indicating a lack of a clear trend.
Bitcoin (BTC) made headlines in 2024 when its price jumped above $100,000 per coin. A major impulse came in November after Donald Trump’s victory in the U.S. presidential election fuelled hopes of crypto industry deregulation. However, these hopes have not yet been fulfilled, leaving Bitcoin and other crypto coins at risk of a sharp downward correction.
2025 outlook
Macro and the U.S. dollar
Declining interest rates mean that returns on cash (bank deposits) in most industrialised economies will continue to go down, prompting investors and traders to put their money into riskier assets like equities and cryptocurrencies. ‘Another important feature of the current monetary policy outlook is that the Fed’s easing cycle will slow relative to the rest of the world. It means that the U.S. Dollar Index [DXY] will likely remain well-supported in 2025’, argues Kar Yong Ang. However, a lot of bullish factors for the U.S. dollar are already priced in, and the greenback has actually started to look somewhat overvalued. ‘I’m sceptical about further dollar gains’, says Kar Yong Ang, adding that dollar bulls should be very cautious.
If the U.S. plays hardball and implements blanket tariffs, inflation and even recession risks will rise. In this scenario, investors will rush into safe-haven assets like the U.S. dollar, the Japanese yen, and gold and sell stocks and crypto assets.
Equities
Betting on broad-based growth in U.S. equities is dangerous. Instead, traders should focus on specific industries and sectors. The main theme here is the adoption and commercialisation of Artificial Intelligence (AI). Companies that integrate AI into their core operations and invest in AI talent and infrastructure will gain a competitive edge. Therefore, tech companies are likely to perform well in 2025. By the same token, the increased use of AI and data centres is boosting energy demand, so energy companies and utilities are also likely to shine in 2025.
Gold
‘I expect gold to set a new all-time high in 2025. $3,000 per ounce is not impossible. There are too many risks heading our way in 2025, so there will be plenty of demand for safe-haven assets’, says Kar Yong Ang, a financial market analyst at Octa broker. Indeed, gold will continue to remain an effective hedge against key political concerns, including government debt levels, inflation, and geopolitical tensions. Furthermore, central banks’ demand for gold has already supported gold prices in 2024, and there are no reasons to expect this trend to reverse.
Crypto
The latest rally in crypto looks overextended. It has been driven by sentiment and embedded in forward-looking hopes. ‘There is just too much optimism in Bitcoin right now. I think there is a risk of a significant pullback in 2025. But rather than betting on a bearish correction, I would advise using it as a buying opportunity’, says Kar Yong Ang.
Wrap-up
Overall, 2025 will be a year of reckoning as the impact of the U.S. presidential elections unfolds, determining the course of future policy. In the worst-case scenario of an all-out trade war, global supply chains would be severely disrupted, leading to significant price increases for consumers, decreased business investment, and a sharp contraction in international trade. Under this scenario, U.S. equities and most other commodity prices would drop. However, should we avoid the worst-case scenario, global central banks will likely continue to cut interest rates, pulling stocks and crypto assets higher.
Our base case scenario is somewhere in the middle. We expect to see a lot of volatility and uncertainty enter the marketplace, but we also expect key players to sort out their differences and find common ground. The AI transformation trend is likely to continue benefiting tech and energy companies. It is highly probable that XAUUSD will establish a new all-time high in 2025, given the likely continued gold purchases by investors and central banks in response to low interest rates, geopolitical risks, and dollar diversification efforts. The greenback will likely reach a major mid-term peak in 2025, so betting on its continuing appreciation is risky.
In case the regulatory outlook for the crypto industry starts to brighten (as seems likely) and the reshuffling of the Securities and Exchange Commission (SEC) yields productive results, Bitcoin, Ethereum, and Solana will probably hit new all-time highs—particularly in the second half of the year. Kar Yong Ang, a financial market analyst at Octa broker, concludes: ‘Fundamentally, the outlook for the global economy is actually positive, but it’s rife with uncertainties and riddled with challenges. I bet Forex volatility in 2025 will be higher than it was in 2024, so there will be plenty of short-term trade opportunities for swing and intraday traders alike’.
Hashtag: #Octa
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Octa
Octa is an international broker that has been providing online trading services worldwide since 2011. It offers commission-free access to financial markets and various services used by clients from 180 countries who have opened more than 52 million trading accounts. To help its clients reach their investment goals, Octa offers free educational webinars, articles, and analytical tools.
The company is involved in a comprehensive network of charitable and humanitarian initiatives, including the improvement of educational infrastructure and short-notice relief projects supporting local communities.
In the APAC region, Octa received the ‘Best Trading Platform Malaysia 2024’ and the ‘Most Reliable Broker Asia 2023’ awards from Brands and Business Magazine and International Global Forex Awards, respectively.
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SkinLab The Medical Spa Recognised at the 2026 Singapore Retailers Association Awards (SRA) for Excellence in Beauty and Cosmetics
For SkinLab, this reflects two decades of building a holistic beauty ecosystem spanning medical aesthetics, skin health, and wellness, under Dr Kelvin Chua, Senior Medical Director and Founder of SL Aesthetic Group. Treatments are personally developed by Dr Chua to address different skin concerns, such as acne, pigmentation, sensitivity, rosacea, dryness, and ageing. The medical spa also offers a range of skincare products formulated for Singapore’s humid climate and to support long-term skin health.
With 10 outlets islandwide, SkinLab has cared for more than 100,000 customers through this model of doctor-designed care. As no two skin conditions present the same way, each treatment can be customised to individual needs and preferences.
SkinLab has also been recognised by Harper’s BAZAAR, HerWorld, and Singapore Women’s Weekly for treatments targeting deep hydration, rejuvenation, and complexion correction. Behind these treatment outcomes are medical-grade technologies, including the LDM Triple, a triple-frequency ultrasound that targets multiple skin depths simultaneously; FDA-approved Lumenis M22 IPL system for photorejuvenation and pigmentation; Onda Pro with Coolwaves™ technology for body contouring; and the globally-recognised HydraFacial.
The medical spa continuously invests in technology that improves the customer experience, including using AI-assisted skin analysis to support consultations alongside chatbot-based scheduling to reduce waiting time and streamline appointment bookings.
SkinLab’s commitment to holistic care extends beyond treatment sessions, promoting skin health literacy educational content and workshops with doctors from sister brand SL Aesthetic Clinic.
“This award is a valuable milestone that reflects how far SkinLab The Medical Spa has grown as a brand,” says Dr Chua. “From the very start, our brand was designed with the customer at the centre, and that principle continues to guide every treatment developed and every experience delivered moving forward. The brand remains committed to advancing medical-led facial treatments that address a wide range of skin concerns more effectively.”
Looking ahead, SkinLab The Medical Spa remains committed to advancing its medical-led approach to skin health, continuing to explore and adopt clinically validated technologies to deliver more individualised care while reinforcing its commitment to clinical excellence across all its outlets.
To learn more, visit: www.skinlabmedspa.com
Hashtag: #SkinLabTheMedicalSpa #SLAestheticGroup #SingaporeRetailersAssociation
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About SkinLab The Medical Spa
SkinLab The Medical Spa brings together the attentive, understated service of a world-class spa with medically grounded aesthetic science. As the dedicated medical spa brand of SL Aesthetic Group, SkinLab focuses on non-invasive facial treatments for acne, pigmentation, sensitive skin, and overall skin rejuvenation, delivering evidence-based care that supports long-term skin health.
Founded in the 2000s, SL Aesthetic Group is a healthcare and aesthetics group specialising in skin and hair health, women’s wellness, and holistic medicine. Its portfolio includes SL Aesthetic Clinic, a doctor-led medical aesthetics practice; SkinLab The Medical Spa; TrichoLab, a specialist hair and scalp centre; PROLOGUE, a women’s wellness and lifestyle medical clinic; and Euphie Skin Solutions in Malaysia. Across its network of clinics and outlets, the Group offers a comprehensive range of FDA-approved aesthetic and medical treatments, all supervised by trained and certified healthcare professionals holding Certificates of Competency (COC) recognised by the Aesthetic Practice Oversight Committee (APOC).
SkinLab The Medical Spa operates 10 locations across Singapore, including its flagship medical spa at Wheelock Place, while SL Aesthetic Group has a network of more than 20 clinics and outlets across Singapore and Malaysia.
The launch ceremony was attended by Mr. Do Quang Thai, First Secretary of the Embassy of the Socialist Republic of Vietnam in the Kingdom of Denmark, together with representatives from leading Danish organizations, including 3F, Dansk Erhverv, DPT and Carnegie Investment Bank, alongside strategic partners and industry stakeholders from the transport, technology, energy, finance and infrastructure sectors.
As one of the world’s leading cities in sustainable urban mobility, Copenhagen was chosen as Green SM’s first European market. Here, the company aims to complement the city’s existing transport network by offering another reliable, fully electric mobility option for residents and visitors alike.
In Denmark, the company operates a fully electric fleet of VinFast VF 6 and VF 8 vehicles, serving a wide range of everyday urban travel needs. Unlike many ride-hailing platforms that primarily connect passengers with independent drivers, Green SM directly owns and manages its fleet and oversees driver operations to help ensure consistent service quality and customer experience. During the initial phase of operations, Green SM will focus on establishing a reliable local operation, ensuring full compliance with Danish regulations, and continuously improving its service based on feedback from customers, drivers, and other stakeholders.
Delivering a safe, professional, and consistent customer experience begins with Green SM’s drivers. Before serving customers, every driver completes comprehensive training in road safety, customer service, operating procedures, and electric vehicle operation. Together with ongoing training and a robust local operations system, this helps ensure every journey reflects the high standards Green SM is committed to delivering.
Customers can book rides through the Green SM app, available on the App Store and Google Play. Fares are displayed before each trip is confirmed, and electronic receipts are issued automatically at the end of every journey. To mark its launch in Copenhagen, Green SM is offering new customers five (5) vouchers worth 25% off each trip, up to a maximum discount of 100 DKK per ride throughout the Grand Launch period from July 30 to September 30, 2026.
Richard Nabil Chahine, CEO of Green SM Europe, said: “Cities shape the future of mobility long before companies do. Copenhagen is one of those cities. That is why beginning our European journey here carries special meaning for Green SM. We come with deep respect for the standards already established here, drawing on what we have learned from serving millions of journeys across Asia. Our ambition is simple: to become a trusted mobility partner by delivering safe, professional and fully electric journeys that people can rely on every day. If we earn that trust, growth will naturally follow.”
Green SM’s expansion into Europe reflects the company’s long-term approach to international growth. Rather than prioritising rapid expansion, Green SM focuses on building well-structured local operations, adapting its services to local market needs, and earning trust through consistently reliable service.
With its fully electric fleet and low-emission operating model, Green SM hopes to contribute to Denmark’s long-standing ambitions for more sustainable mobility while providing another practical transport choice for everyday journeys.
Founded in Vietnam in 2023, Green SM currently operates in Vietnam, Laos, Indonesia, the Philippines, India and Kazakhstan. Through its fully electric fleet, technology platform and consistent operating standards, the company is steadily expanding internationally while adapting its services to local market needs.
Hashtag: #GreenSM
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The collaboration marks a significant moment for Taiwan’s international media presence, as the completion of Gaudí’s vision draws global attention to one of the world’s most visited cultural landmarks. NHK has documented the construction of the Sagrada Família for decades, building a relationship of trust with the basilica’s team that enabled joint coverage.
TVBS crews filmed in areas rarely accessible to media, including the crypt where Gaudí is buried, architectural workshops, and key structural sections of the basilica. The team conducted interviews with architects and experts involved in the project during preparations for the inauguration ceremony. Construction on the church began in 1882, one year before Gaudí took over as chief architect.
Taiwanese actress Lin Chi-ling joined the reporting team in Barcelona as a cultural ambassador for the project. Lin met with architects and experts to explore the basilica through the perspectives of architecture, aesthetics, and cultural heritage. Her involvement added a cultural dimension to the coverage beyond conventional architectural reporting.
The coverage brought together partners from Taiwan’s technology and financial sectors. HTC, through its VIVE Arts initiative, contributed its immersive experience “Gaudí, the Atelier of the Divine.” The virtual reality program allows audiences to explore Gaudí’s architectural world in new ways, transcending geographical and physical boundaries.
TS Financial Holding Co., Ltd., which has long supported arts and cultural exchange, sponsored the live broadcast. The company cited values of integrity, innovation, and sustainability in joining the project. The cross-sector collaboration extended Taiwan’s cultural advocacy onto the international stage, connecting the 144-year architectural endeavor to audiences in Taiwan and Chinese-speaking communities worldwide.
TVBS integrated AI-powered real-time translation technology throughout the live coverage, facilitating multilingual communication across international production teams. The project showcased Taiwan’s ability to connect industries and communities across borders. TVBS, NHK, HTC, and TS Financial Holding Co., Ltd., together documented a defining milestone in the Sagrada Família’s history.
Hashtag: #TVBS
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