Markets
News
Analysis
User
24/7
Economic Calendar
Education
Data
- Names
- Latest
- Prev
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: --
A:--
F: --
A:--
F: --
A:--
F: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
A:--
F: --
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: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
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
The New York Fed's August Survey of Consumer Expectations showed that consumers' inflation expectations over the next three years rebounded slightly to 2.5% from July's 2.3%. Consumers' one- and five-year-ahead inflation expectations remained unchanged in August at 3.0% and 2.8%, respectively.
GBP/USD extends its losing streak for the third successive day, trading around 1.3060 during the Asian session on Tuesday. The downside of the pair could be attributed to the improved US Dollar (USD), which received support as recent US labor data raised uncertainty over the likelihood of an aggressive interest rate cut by the Federal Reserve (Fed) at its September meeting.
According to the CME FedWatch Tool, markets are fully anticipating at least a 25 basis point (bps) rate cut by the Federal Reserve at its September meeting. The likelihood of a 50 bps rate cut has slightly decreased to 29.0%, down from 30.0% a week ago.
USD net long positions have increased for the second week in a row. EUR net long positions have increased for the third consecutive week. GBP net long positions have increased for the third consecutive week, JPY net long positions have increased for the third consecutive week, Rabobank FX analysts note.
USD net long positions have increased for the second week in a row, driven by a decrease in short positions. Stronger-than-expected second estimates for US Q2 personal consumption (2.9% vs est. 2.2%) and GDP (2.0% vs est. 2.8%) on August 29th drove a 4.75bp increase in the 10yr. Traders are pricing in a 32bp cut at the Fed September meeting at the time of writing.
The GBP/USD begins the North American session down by over 0.30% on Monday as traders trim the chances of a 50-basis point Fed interest rate cut in ten days. At the time of writing, the pair trades at 1.3075 after reaching a high of 1.3143.
The GBP/USD has fallen below the 1.3100 mark, though the uptrend remains intact unless sellers grab the pair below the July 17 high of 1.3044, which could open the door for a deeper pullback.
Inflation is no longer the sole focus, as economic growth has gained equal importance, although central banks still prioritize maintaining symmetrical price stability around 2.0%.
The story lately was that a couple of disappointing US business and employment data raised speculation that the world’s largest economy might be at the brink of a recession and could drag the rest of the world down with it as US interest rates remain unchanged at restrictive levels.
The Eurozone economy exceeded analysts’ expectations in Q2, showing ongoing growth since Q3 2023, but the pace remained modest at 0.3% q/q and 0.6% y/y, falling short of the ECB’s 2024 forecast of 0.8% y/y.
Of course, a glance at member states shows a widening gap, with tourism-led economies such as France and Italy displaying stronger GDP numbers than the struggling industrial-led Germany. The latest S&P Global business PMI report revealed that the Olympic games in France and the tourism boost in Spain and Italy could support Q3 GDP numbers. However, with Germany’s growth engines in artificial intelligence and other technological areas falling behind those of the US and China, and given the presence of geopolitical risks, it is questionable whether the bloc will attract noteworthy investment in the coming years.
As regards the labor market, the unemployment rate has been steady near a record low of 6.4%, but spending appetite was cautious as reflected by a near-zero growth in the household consumption and the falling savings ratio. Although the dynamics on the wage front are mixed across member states, with Germany demanding more increases, the latest round of negotiations within the bloc averaged at a lower level of 3.6% y/y in Q2 from 4.7% y/y in Q1, easing the risk of a wage-price spiral.
Hence, a second cut of 25bps in the deposit facility rate to 3.50% may not face strong opposition this week. Analysts believe this is a done deal, especially after ECB board member Kazaks admitted that the sideways move in inflation is consistent with further rate cuts. A few days later, headline CPI inflation broke its range to hit a three-year low of 2.2% y/y, standing marginally above the ECB’s target of 2.0%, while the core measure also eased notably to 2.8% y/y.
Similar to the Fed, we must ask if there is a chance for a significant 50bps rate reduction in the eurozone this year. The ECB is scheduled to update its inflation and GDP forecasts along with its rate decision and therefore it could give fresh hints about its next policy steps. However, October’s gathering could be considered a better timing for guiding investors when September’s economic figures are out.
In the meantime, futures markets are pricing in a third 25bps rate cut later his year, though they are uncertain about whether this will happen in October or December. There is also ambiguity about whether a potential reduction in December could be a double one if nothing happens in October. Overall, investors see interest rates at 2.5% by March, which suggests a back-to-back easing or a 50bps base rate cut with a break in the coming meetings.
For the time being, policymakers might avoid any strongly dovish language and could show preference for a step-by-step policy monitoring, given the elevated prices in the services sector. If that proves to be the case, investors might translate it as a hawkish signal, helping EURUSD climb back towards its 20-day simple moving average (SMA) at 1.1084 and then up to the 1.1100 tough resistance.
From a technical perspective, today’s drop below the 20-day simple moving average shifted the attention to the 1.0990 area, while lower, the 1.0915-1.0940 zone might pause steeper declines. Yet for the bears to reach the latter, the central bank must discuss the potential for a 50bps rate cut and/or even signal a continuous easing policy into 2025.
Palantir stock jumped more than 13% on Monday.
The stock was soaring on the news that it was added to the S&P 500.
The stock is up nearly 100% YTD. Is it a buy?
This AI stock is soaring on the news that it has been added to the S&P 500. Is it a buy?
Palantir Technologies (NASDAQ: PLTR) stock was soaring on Monday, making it one of the top gainers on the day, up more than 13% as of mid-afternoon, Eastern time.
Palantir stock has been on fire this year, up roughly 100% year-to-date, and it got another jolt Monday on the news that it has been included in the S&P 500.
Is the newest member of the S&P 500 a buy? Let’s take a look.
Palantir is another stock that has benefitted from the AI boom. In a nutshell, the company makes software that allows customers, both commercial and government, to collect and analyze large amounts of data and develop generative AI models to improve decision making and facilitate other functions.
In the latest shareholder letter, Palantir CEO Alex Karp said the company’s AIP, or Artificial Intelligence Platform, has transformed its business. Its AIP has been a major contributor to the 55% revenue increase Palantir saw in its U.S. commercial business in the second quarter. Overall, revenue grew 27% year over year to $678 million.
On Monday, Palantir inked a five-year deal with BP, the oil and gas producer, for its AIP platform, the latest in a series of big wins.
“The persistent and unbridled demand for our software, for an effective enterprise platform that makes artificial intelligence capabilities useful to large institutions, shows no sign of relenting,” Karp said in the Q2 shareholder letter.
That growth has led to consistent profitability over the last two years, including record net income of $134 million, or 6 cents per share, in Q2.
It has also led to huge gains in its share price, as Palantir stock jumped 167% in 2023 and is up roughly 100% so far in 2024, trading at just over $34 per share.
With a market cap of about $76 billion, Palantir was added to the S&P 500 last week, along with Dell (NYSE: DELL) and Erie Indemnity (NASDAQ: ERIE). On September 23, they will replace American Airlines (NYSE: AAL), Etsy (NASDAQ: ETSY), and Bio-Rad Laboratories (NYSE: BIO). The changes ensure that the index is more representative of the requirements that make up the large-cap market space.
To be included in the S&P 500, a stock obviously must meet the market cap requirements, but there are other criteria to meet as well. One of them is profitability, as S&P 500 firms must be profitable for at least four quarters. So, it not only raises the profile of the stock; it also shows that the company is reliably profitable.
But perhaps the most important perk is that inclusion in the S&P 500 means the stock will now get assets from the many exchange-traded funds (ETFs) that invest in the S&P 500.
Investors were pouring into Palantir for the reasons outlined above — its revenue growth, profitability, the growth potential of AI, and the raised profile from inclusion in the S&P 500.
However, the rally also shoots up the share price of a stock that is already wildly overvalued, with a P/E ratio of 178 and a forward P/E of 78. It is hard to sustain that level of growth, even for a company as successful as Palantir.
That may be why Wall Street analysts have a median price target of $28 per share, which would be down from the current $34 per share price. That target may adjust after the S&P 500 news, but still, it suggests that the price will likely flatten out a bit.
Investors who have been on the Palantir express the past couple years have been thrilled with the results, but for new investors, it may not be the opportune time to get on board due to its high valuation. But Palantir stock, at the right entry price, does look like a good long term investment. But the price right now looks too high.
The forex markets have remained largely subdued in today’s Asian session, with most major currency pairs moving within a narrow range from yesterday. Investor sentiment stabilized overnight, with major US stock indexes closing higher. However, caution is still the prevailing mood as traders await tomorrow’s US CPI data, which will be pivotal in shaping Fed’s next move. The inflation data will likely be the key determinant in whether Fed opts for a modest 25bps rate cut or a more aggressive 50bps cut at its upcoming meeting.
Earlier today, Australian data had little impact on market sentiment. Consumer confidence in Australia continues to linger at low levels, a trend that has persisted for over two years. Business confidence, meanwhile, has turned negative, signaling rising concerns about the economic outlook. These concerns suggest that RBA’s restrictive policies are cooling the economy as intended, but there is little to suggest that the central bank will bring forward its policy easing cycle, which is supposed to begin next year.
Looking ahead, the spotlight is now on the UK, where employment data is due for release. BoE is expected to take a measured approach to rate cuts, with many analysts believing that next week’s BoE meeting may be too early for another rate reduction. However, this cautious stance depends heavily on no major negative surprises in today’s job data, tomorrow’s GDP figures, and next week’s CPI report.
For the week so far, Loonie is leading the pack as the strongest performer, followed by Aussie and then Dollar. At the other end, Swiss Franc is the weakest, with Yen and Kiwi also under pressure. Euro and Sterling are positioned in the middle.
Technically, GBP/AUD’s pullback from 2.0034 could have completed at 1.9276 already. Multiple support from 55 D EMA is a near term bullish sign too. Further rise is now expected to retest 2.0034 first. Firm break there will resume larger rally. However, break of 1.9536 will suggest that correction from 2.0034 is probably extending with another falling leg through 1.9276.
Australia’s Westpac Consumer Sentiment Index saw a marginal decline of -0.5% mom in September, falling from 85.0 to 84.6, reflecting the ongoing pessimism that has gripped Australian consumers for more than two years. According to Westpac, this persistent negativity shows “no real signs of lifting,” with key indicators pointing to growing anxiety about the country’s economic outlook.
Sentiment around economic conditions for the next 12 months dropped from 83.3 to 81.2, while unemployment expectations rose sharply from 133.5 to 138.4, signaling growing concerns about job security. However, the interest rate expectations index saw some relief, falling from 135.5 to 123.8, as consumers became less worried about further rate hikes.
Westpac noted that the focus among consumers appears to be shifting. “While cost-of-living pressures are becoming a little less intense and fears of further interest rate rises have eased, consumers are becoming more concerned about where the economy may be headed and what this could mean for jobs,” the report highlighted.
Australia’s NAB Business Confidence fell from 1 to -4 in August. Business Conditions also declined, dropping from 6 to 3. Trading conditions dipped by 2 points, while profitability slid by 1 point. Forward orders remained unchanged at -4.
NAB Chief Economist Alan Oster commented on the data, noting that “conditions are now fairly clearly below average compared to the history of the survey,” underscoring the broader weakness in the private sector as the economy slows.
The decline in the employment gauge is particularly notable, as it “suggests the period of very strong private sector labor demand seen throughout the post-Covid period may be coming to an end,” Oster added.
UK employment data is the key focus in European session today. The US calendar is empty.
Daily Pivots: (S1) 1.3046; (P) 1.3095; (R1) 1.3121;
Intraday bias in GBP/USD remains neutral and outlook is unchanged. Further rise is expected with 1.3043 resistance turned support intact. On the upside, firm break of 1.3265 will resume larger up trend to 100% projection of 1.2298 to 1.3043 from 1.2664 at 1.3409. However, firm break of 1.3043 will turn bias back to the downside for deeper pullback.
In the bigger picture, up trend from 1.0351 (2022 low) is in progress. Next target is 38.2% projection of 1.0351 to 1.3141 from 1.2298 at 1.3364. For now, outlook will stay bullish as long as 1.2664 support holds, even in case of deep pullback.
The USD/CAD pair attracts some buyers during the Asian session on Tuesday, albeit lacks follow-through and remains confined in the previous day's trading range. Spot prices currently hover around the 1.3565 region, up less than 0.10% for the day and below the 200-day Simple Moving Average (SMA) before placing fresh bets.
Crude Oil prices struggle to capitalize on the overnight bounce from the lowest level since June 2023 amid concerns about a slowdown in China – the world's largest importer. Apart from this, hopes for additional interest rate cuts by the Bank of Canada (BoC), bolstered by Friday's disappointing Canadian jobs data, undermine the commodity-linked Loonie and act as a tailwind for the USD/CAD pair.
The US Dollar (USD), on the other hand, continues to draw support from reduced bets for a larger 50 basis points (bps) interest rate cut by the Federal Reserve (Fed) in September following Friday's release of the mixed US Nonfarm Payrolls (NFP) report. This, in turn, is seen as another factor lending some support to the USD/CAD pair, though the lack of follow-through buying warrants some caution for bulls ahead of BoC Governor Tiff Macklem's speech later during the early North American session. Investors might also prefer to move to the sidelines ahead of the US inflation figures, which will play a key role in influencing the Greenback.
The crucial US Consumer Price Index (CPI) is due for release on Wednesday, followed by the Producer Price Index (PPI) on Thursday. The data will drive market expectations about the size of the Fed's interest rate cut later this month and the USD demand. This, along with Oil price dynamics, should provide some meaningful impetus to the USD/CAD pair and help in determining the next leg of a directional move.
At the recent Jackson Hole Symposium, Fed Chairman Powell indirectly pre-announced the September 18 rate cut and highlighted the importance of the labour market in the current decision process. As a result, last week’s mixed jobs market data sealed the rate cut. However, last Friday’s non-farm payrolls figure also increased the market’s concern about the magnitude of the expected economic slowdown, forcing a negative reaction in most stock indices.
Ahead of the usual blackout period, a number of Fed members were on the wires on Friday, essentially confirming the worst kept secret and offering their support for the first, and usually most difficult, decision in an interest rate cycle. But most refrained from openly stating their preference for a 50bps rate move.
The focus this week turns to inflation as the August report will be released on Wednesday. Powell was quite direct at Jackson Hole about his inflation assessment. He mentioned that inflation is now much closer to the Fed’s objective and that “upside risks to inflation have diminished”. As such, the importance of the inflation prints has dropped a bit, but this release still holds significant market-moving ability.
Interestingly, the recent inflation-related information is mixed. Last week’s prices paid sub-components for both the services and manufacturing ISM surveys managed to produce upside surprises, thus revealing renewed strength in inflation. Similarly, the mid-August University of Michigan consumer sentiment survey had 1-year expected inflation at 2.9%.
Economists are forecasting a slowdown in the headline figure to 2.6% from 2.9% recorded in July, with the core indicator, which excludes food and energy prices, expected to ease to 3.2%. These forecasts match the Cleveland Fed Nowcast models estimates.
However, there is considerable risk for a downside shift in the headline CPI figure when examining the performance of oil in both August 2023 and last month. In 2023, oil prices increased by 2.3% on a monthly basis, but a sizeable 7% drop was recorded last month. In layman terms, inflation could fall more aggressively and thus add to the Fed doves’ arguments for a more aggressive monetary policy decision next week.
The market is currently pricing in a 25% probability for a 50bps rate cut on September 18, and a downside inflation surprise would most likely prop-up these expectations. On the flip side, an unsurprising release, which confirms forecasts or even shows a small pick up in inflationary pressures, won’t impact the Fed rate move expectations but could, on the margin, curtail the dovish commentary accompanying the much-expected rate move.
The yen has been consistently outperforming the dollar since July. After stalling in August, the move lower in dollar/yen appears to have started again as the Fed is preparing for its first rate cut. A downside surprise to Wednesday’s inflation report could further fuel the ongoing dollar weakness and could help the dollar/yen bears to finally overcome the 142.49 level.
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.