Markets
News
Analysis
User
24/7
Economic Calendar
Education
Data
- Names
- Latest
- Prev
A:--
F: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
A:--
F: --
A:--
F: --
A:--
F: --
P: --
A:--
F: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
--
F: --
P: --
--
F: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
No matching data
Latest Views
Latest Views
Trending Topics
To quickly learn market dynamics and follow market focuses in 15 min.
In the world of mankind, there will not be a statement without any position, nor a remark without any purpose.
Inflation, exchange rates, and the economy shape the policy decisions of central banks; the attitudes and words of central bank officials also influence the actions of market traders.
Money makes the world go round and currency is a permanent commodity. The forex market is full of surprises and expectations.
Top Columnists
Enjoy exciting activities, right here at FastBull.
The latest breaking news and the global financial events.
I have 5 years of experience in financial analysis, especially in aspects of macro developments and medium and long-term trend judgment. My focus is maily on the developments of the Middle East, emerging markets, coal, wheat and other agricultural products.
BeingTrader chief Trading Coach & Speaker, 8+ years of experience in the forex market trading mainly XAUUSD, EUR/USD, GBP/USD, USD/JPY, and Crude Oil. A confident trader and analyst who aims to explore various opportunities and guide investors in the market. As an analyst I am looking to enhance the trader’s experience by supporting them with sufficient data and signals.
Latest Update
Risk Warning on Trading HK Stocks
Despite Hong Kong's robust legal and regulatory framework, its stock market still faces unique risks and challenges, such as currency fluctuations due to the Hong Kong dollar's peg to the US dollar and the impact of mainland China's policy changes and economic conditions on Hong Kong stocks.
HK Stock Trading Fees and Taxation
Trading costs in the Hong Kong stock market include transaction fees, stamp duty, settlement charges, and currency conversion fees for foreign investors. Additionally, taxes may apply based on local regulations.
HK Non-Essential Consumer Goods Industry
The Hong Kong stock market encompasses non-essential consumption sectors like automotive, education, tourism, catering, and apparel. Of the 643 listed companies, 35% are mainland Chinese, making up 65% of the total market capitalization. Thus, it's heavily influenced by the Chinese economy.
HK Real Estate Industry
In recent years, the real estate and construction sector's share in the Hong Kong stock index has notably decreased. Nevertheless, as of 2022, it retains around 10% market share, covering real estate development, construction engineering, investment, and property management.
Hongkong, China
Ho Chi Minh, Vietnam
Dubai, UAE
Lagos, Nigeria
Cairo, Egypt
White Label
Data API
Web Plug-ins
Affiliate Program
View All
No data
Not Logged In
Log in to access more features
FastBull Membership
Not yet
Purchase
Log In
Sign Up
Hongkong, China
Ho Chi Minh, Vietnam
Dubai, UAE
Lagos, Nigeria
Cairo, Egypt
White Label
Data API
Web Plug-ins
Affiliate Program
Sterling slumped yesterday on cool UK CPI figures, as the dollar continued to gain broadly, while stocks also rallied. Today, the ECB are set for a second straight 25bp cut, while a busy US data slate also awaits.
Core bonds eked out some gains yesterday ahead of the ECB meeting and US data including retail sales and jobless claims scheduled for release today. Bunds outperformed Treasuries with yields losing around 4 bps across the curve. US yields lost between -0.8 (2-yr) and -2.4 bps (30-yr).
Gilts rallied after September CPI decelerated more than expected. Even with underlying gauges still well above 2%, front-end yields in the UK tanked more than 11 bps as markets stacked up monetary easing bets. Sterling slipped but managed to claw back some of the losses against an overall weak euro as trading evolved. EUR/GBP rose from 0.833 to 0.836. Cable (GBP/USD) lost the 1.30 big figure (July interim high, September correction low & 38.2% retracement on the April-Sep 2024 rise). We don’t want to call it a formal technical break lower just yet. The pair may still rebound towards 1.32 to finish a developing head-and-shoulders pattern.
The US dollar held the upper hand against all peers but CAD. DXY took out 103.34 (50% recovery on the YtD high to low). EUR/USD dropped further below 1.09 and closed in on intermediate support around 1.0835. The bottom of the bearish August-October double top formation is located around 1.08.
The ECB is expected to cut rates by 25 bps to 3.25%. That’s a complete U-turn since ECB chair Lagarde basically ruled that out in September because of the short inter-meeting period. Ongoing disinflation and especially weak PMIs made many policymakers, led by Lagarde’s example, change tack. That’s data-dependency to the fullest – an argument we expect Lagarde to use to defend today’s decision.
For that same reason she’s unable to offer much guidance for December, given there are two PMI’s, two CPI’s and Q3 wage data. That’s a recipe for volatility: markets currently expect 100 bps of cuts over the next four meetings (today included). Meanwhile inflation numbers are all but certain to pick up again in the coming months. One less dire PMI outcome and things may shift drastically.
For the time being though, we hold on to our short-term target for EUR/USD around 1.08 amid ongoing (technical) USD strength. Front-end European yields discount enough rate cuts in our view, suggesting the recent October lows (around 2% for the German 2-yr, 2.2% for the swap equivalent) are a solid bottom.
Data published by the Australian Bureau of Statistics this morning showed that the labour market remains strong. The economy added a net 64.1 k of jobs in September, up from 42.6 k in August. The rise was mainly due to a jump in full-time employment (+51.6k compared to a small decline of -5.9k in August). Measured by the overall change in employment, it was the sixth straight month that employment growth beat expectations. The unemployment rate was unchanged at 4.1%.
According to the ABS, employment has risen by 3.1% in the past year, growing faster than the labour force. The participation rate also rose 0.1% to a record high 67.2%. “The record employment-to-population ratio and participation rate shows that there are still large numbers of people entering the labour force and finding work in a range of industries, as job vacancies continue to remain above pre-pandemic levels”
ABS said. After the release of the report, money markets further reduced the chance of a first RBA rate cut in December to 30% from about 50%. Inflation in August declined to 2.7% Y/Y, within the RBA 2-3% target range, but this was mainly due to support measures of the government to cap electricity prices for consumers.
The RBA probably will look through this decline and combined with an ongoing strong labour market, it won’t feel a rush to cut from the 4.35% currently. The Aussie dollar this morning rebounded modestly against a broadly strong dollar (AUD/USD 0.669).
The Supreme Court has rejected a challenge to the new emission reduction rule that the Environmental Protection Agency greenlit earlier this year.
The rule requires that both existing and future power plants emit a lot less carbon dioxide than before, meaning substantial additional costs for operators. The rule prompted 27 states to challenge the rule in court, claiming it would spell the death of many power generators that are vital for the grid.
After the lawsuits were filed, the plaintiffs approached the Supreme Court asking for the new EPA rule to be suspended while litigation was ongoing. The Supreme Court justices just denied that request, with one of them saying that the states “have shown a strong likelihood of success on the merits as to at least some of their challenges”.
However, they are “unlikely to suffer irreparable harm” while the lower court decides on the case because the new requirements only come into effect in June 2025, Justice Brett Kavanaugh wrote, as quoted by Reuters.
Earlier in the year, opponents of the new rule from Republican state administrations and industry associations scored an important victory: existing natural gas power plants were excluded from the requirement, which would saddle existing coal-fired power plants and new gas-fired plants with the requirement to reduce their emissions by as much as 90% through carbon capture. Yet this does not appear to be enough, according to the 27 states and their industry allies.
The new rule would make construction of new natural gas power plants more expensive at a time when demand for such plants is on the rise from Big Tech amid its continued AI push, which has seen demand for electricity in states with large data center numbers soar.
The federal government “has refused to account for irrefutable evidence that electricity demand is soaring, disregarded validated reliability warnings from grid experts related to coal plant closures, and ignored the basic fact that there is no adequate replacement ready to replace the sorely needed, dispatchable generating capacity coal provides once it is shuttered,” the president of the National Mining Association said earlier this year after the EPA announced its new rule.
NYMEX WTI hovered near $70/bbl while ICE Brent was trading just below $75/bbl this morning as market participants await fresh updates from the Middle East. Meanwhile, market outlooks released by OPEC and IEA this week suggested sluggish demand and a sizable supply surplus for the next year, which is keeping pressure on oil prices.
API numbers released overnight were somewhat constructive for the oil market. The institute reported that US crude oil inventories dropped by 1.6m barrels over the last week, in contrast to the market expectations of a build of 1.5m barrels. The API also reported large inventory draws for products, with gasoline and distillate stocks falling by 5.9m barrels and 2.7m barrels respectively. The more widely followed EIA report will be released later today.
Recent reports suggest Iran encountered an oil leak yesterday near its top export terminal in the Persian Gulf. The leak happened on subsea pipelines close to the Kharg Island export terminal. However, the cause of the incident and its impact on exports are still not clear, while authorities have already started efforts to contain the leak.
US natural gas prices continued the bearish trend yesterday. The front-month Henry Hub contract declined more than 5% to settle at US$2.37/MMBtu yesterday amid unfavourable weather conditions. The latest weather forecasts suggest that temperatures have shifted warmer for most of the US, signalling weakening demand for the power-plant fuel. The EIA will release its weekly US natural gas storage report today and expectations are that natural gas inventories increased by around 77.5Bcf over the last week. Total US storage stands at 3,629Bcf, 5.1% above the five-year average as of 4 October.
Meanwhile, European gas prices also came under pressure on reports of stronger LNG flows. Recent data from Bloomberg suggests that flows from terminals that import liquefied natural gas in northwest Europe rose to the highest level since April earlier this week. An unusually mild autumn across Europe could also weigh on the gas demand for heating purposes over the next few days. Meanwhile, European storage remains higher at 95% full as of 15 October, above the five-year average of 92%.
Industrial metals edged lower while iron ore fell towards a three-week low this morning despite China’s latest efforts to boost support for its struggling property sector. In its latest briefing, China announced it will expand the “white list” of housing projects eligible for bank financing and increase bank spending for such development to 4 trillion yuan. In January, China announced a plan for a "white list" of projects that can receive financing to ensure that developers can complete construction and deliver homes to buyers. In a briefing this morning, the Minister of Housing announced they will expand urban redevelopment to help absorb housing inventories. The housing minister also said that the property market has started to “bottom out”. However, the market was somewhat disappointed that no new stimulus measures were announced.
Spot gold prices hovered near record highs in the early trading session today as market participants await the release of US economic data points later today. Meanwhile, uncertainty over the US presidential elections, which are less than three weeks away, continues to support safe-haven demand.
France’s Agriculture Ministry estimated French soft wheat exports for the 2024/25 season at 10mt, slightly lower than the previous estimates of 10.1mt. The downward revision in export estimates could be largely attributed to a 61% decline in sales outside the EU nations. Soft wheat stockpiles are seen at 2.5mt, down from earlier estimates of 2.75mt. As for corn, export estimates were increased from 4.5mt to 4.7mt, while inventories were seen at 2.4mt (vs previous estimates of 2.6mt) for the period.
Recent estimates from the UK’s Agriculture Board show that wheat production in the nation is expected at 11.1mt in 2024, down from 14mt seen last season. This was also 21% below the five-year average. The decline in production will mean the country is more reliant on imports than usual this season.
EUR/USD exhibits weakness near 1.0850 on Thursday. The major currency pair faces sharp selling pressure ahead of the European Central Bank’s (ECB) interest rate decision, which will be announced at 12:15 GMT.
Traders expect the ECB to reduce its Rate on Deposit Facility further by 49 basis points (bps) in the remaining two meetings this year, according to a note from Citi on Tuesday, suggesting that there will be two rate cuts of 25 bps on Thursday and in December.
A quarter-to-a-percentage rate cut on Thursday will be the second in a row, pushing the deposit facility rate lower to 3.25%. A dovish decision from the ECB is widely anticipated as the Eurozone economy appears to be on the path of an economic slowdown, with price pressures seeming under control.
With high confidence in the ECB to reduce interest rates again, investors will pay close attention to the monetary policy statement and ECB President Christine Lagarde’s press conference to get fresh cues about the likely monetary policy action in December.
Christine Lagarde is expected to talk more about reviving economic growth as the Eurozone Harmonized Index of Consumer Prices (HICP) has decelerated to 1.8% in September, according to flash estimates. The latest economic projections from the German economic ministry showed that the nation is expected to conclude the year with a decline in the overall output by 0.2%.
EUR/USD extends its losing streak for the fourth trading day on Thursday. The major currency pair declines to a more than 10-week low near 1.0850 as the US Dollar (USD) has performed strongly in the past few weeks. The US Dollar Index (DXY), which gauges the Greenback’s value against six major currencies, jumps to near 103.60, the highest level seen in over two months.
The Greenback remains firm as traders have priced out expectations of the continuation of hefty rate cuts from the Federal Reserve (Fed) and growing speculation of former US President Donald Trump’s victory in presidential elections, scheduled on November 5.
Market participants expect the Fed to cut interest rates moderately in the remainder of the year as fears of a United States (US) economic slowdown have been subsided by robust growth in the Nonfarm Payrolls (NFP) and the Services Purchasing Managers’ Index (PMI) data for September.
Meanwhile, Trump’s victory over Democratic Vice President Kamala Harris is expected to result in higher tariffs on imports from Asian and European peers, tax cuts, and loosening financial conditions that will benefit the US Dollar.
On the economic front, investors will focus on the US monthly Retail Sales data for September, which will be published at 12:30 GMT. Economists expect Retail Sales to have grown by 0.3%.
Technical Analysis: EUR/USD weakens to 1.0850
EUR/USD slides further to near 1.0850 in European trading hours. The major currency pair extends its downfall after breaking below the 200-day Exponential Moving Average (EMA), which trades around 1.0900, earlier this week.
The downside move in the shared currency pair started after a breakdown of the Double Top formation on a daily timeframe near the September 11 low at around 1.1000, which resulted in a bearish reversal.
The 14-day Relative Strength Index (RSI) dives below 30.00, indicating a strong bearish momentum.
On the downside, the major could find support near the round-level figure of 1.0800 and upward-sloping trendline at 1.0750, which is plotted from the October 3 low around 1.0450. Meanwhile, the 200-day EMA and the psychological figure of 1.1000 will be the key resistances for the pair.
White Label
Data API
Web Plug-ins
Poster Maker
Affiliate Program
The risk of loss in trading financial instruments such as stocks, FX, commodities, futures, bonds, ETFs and crypto can be substantial. You may sustain a total loss of the funds that you deposit with your broker. Therefore, you should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources.
No decision to invest should be made without thoroughly conducting due diligence by yourself or consulting with your financial advisors. Our web content might not suit you since we don't know your financial conditions and investment needs. Our financial information might have latency or contain inaccuracy, so you should be fully responsible for any of your trading and investment decisions. The company will not be responsible for your capital loss.
Without getting permission from the website, you are not allowed to copy the website's graphics, texts, or trademarks. Intellectual property rights in the content or data incorporated into this website belong to its providers and exchange merchants.