Markets
News
Analysis
User
24/7
Economic Calendar
Education
Data
- Names
- Latest
- Prev
A:--
F: --
P: --
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: --
A:--
F: --
P: --
A:--
F: --
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: --
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: --
--
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
OPEC revised down their forecast for global oil demand for 2024 and 2025.
In Germany, we get the ZEW index for October, which will give an update on how investors asses the economic situation in Germany. In September, the assessment of the current situation declined to the lowest level since Covid, and expectations declined in a sign of the weakness in the German economy.
In Sweden, the final inflation figures (08:00 CET) are likely to be in line with the preliminary estimates, that is, CPIF at 1.1% and CPIFxE at 2.0%. Instead, focus will be on the details behind the headline numbers. Separately, Public Employment Service releases labour market data for September this morning, where the trend has been one of a higher unemployment rate. Finally, the Riksbank board members testify before the Riksdag Finance Committee at 09:00 CET. Since the last forecast and monetary policy meeting, Swedish growth and inflation data has been in line with or slightly stronger than Riksbank forecasts. Hence, we expect that they will communicate that the baseline of 25bp in November still holds.
We get the UK labour market report for August/September, which is showing broad easing in the labour market and wage growth.
We also keep an eye on CPI data out of Canada and New Zealand.
What happened overnight
In China, a Caixin Global report said that China may raise USD 850bn over the next three years to finance its awaited fiscal stimulus package. The report comes after the Chinese finance minister Lan Fo’An announced on Saturday that China plans to significantly increase debt to stimulate the economy.
In the US, Fed’s Waller called for more caution on interest rate cuts going forward. Waller said that the US economy is in a sweet spot, and Fed’s job is to keep the economy there, as labour market remains healthy, and inflation is coming back to the 2% target. After cutting interest rates by 50bp at the last meeting Fed now needs to continue at a deliberate pace, Waller said. Fed’s Kashkari said that it would be appropriate to consider modest rate cuts going forward, while Fed is on the edge of the 2% inflation target.
What happened yesterday
OPEC revised down their forecast for global oil demand for 2024 and 2025. Now OPEC expects daily demand to increase by 1.93m barrels, which are 106,000 fewer than in their previous estimates, while for 2025 the demand forecast has been decreased by 100,000 barrels per day. In recent days markets have speculated in weak Chinese demand as a potential reason for lower oil demand. Later yesterday, Washington Post reported that Israeli prime minister Netanyahu had told the US government that an Israeli response to Iran’s 1 October attack would not target energy infrastructure such as oil but rather military targets. Oil prices ended last week at nearly 79 USD/barrel, and this morning it has dropped to around 75.3 USD/barrel.
In China, we received data on exports and credit growth. Export growth fell to 2.4% year- on-year from 8.7% in August, below the consensus forecast of 6.0%, and credit growth remained soft. Combined with the low core inflation in September the data highlights the need for further stimulus.
In the Middle East, Israel expanded its attack in Lebanon to the northern town of Aitou, where at least 21 were killed. Until now Israel has hit primarily southern cities and suburbs of Beirut.
FI: European rates traded in a very tight range yesterday (with a marginal upward trend of 2bp across the curve) with US out for Columbus Day, no key data releases and the ECB meeting on Thursday. Front-end pricing was steady at 23bp for the October meeting and a cumulative 150bp by year-end 2025. Bund-ASW hit new lows at 22.3bp (-2bp on the day).
FX: In a relatively slow start to the week the USD has been the clear outperformer among FX majors while ZAR and NOK have traded heavy. EUR/USD has moved just below 1.09 while EUR/NOK is back close to 11.80. USD/JPY continues to trade just below 150 while EUR/GBP is setting new weekly lows amid speculations of an aggressive cutting cycle from the BoE easing. Finally, the recent range trading from EUR/SEK continues with the cross still being stuck in the mid-11.30s.
Malaysia will likely raise spending in the federal budget for 2025, drawing comfort from robust economic growth that will help the government avoid stretching its finances further.
The expansionary policy will lift total fiscal expenditure above RM400 billion for the first time ever, a survey of economists by The Edge shows, as the government raises allocation for operations but reduces the budget for development.
Prime Minister Datuk Seri Anwar Ibrahim is widely expected to announce massive cash handouts, outlays for existing and new infrastructure projects, as well as a splurge on salaries for civil servants, when he presents Budget 2025 in Parliament this Friday (Oct 18).
The largesse, however, would mean that the government will undershoot its own target to shrink the gap in its finances.
Budget deficit, as a proportion of economic output, will likely come in at 3.8% in 2025, according to the median estimate of 11 economists in The Edge’s poll. That compares to the 3.0%-3.5% target set during the 12th Malaysia Plan’s mid-term review.
“The stakes are high,” said OCBC senior economist Lavanya Venkateswaran. “There is a need to balance the fiscal consolidation agenda with growth, development and social objectives.”
The same poll by The Edge shows that Malaysia’s economy may expand at a median 4.8% next year.
To finance the expenditures, tax experts and economists say Anwar is expected to expand the scope of existing taxes, such as raising the duty on sugary drinks, rather than introduce new levies.
Goods-and-services tax (GST) is also unlikely to make a comeback next year, even as economists have been calling for the return of the highly unpopular multi-tier consumption tax that would significantly widen its tax base.
Malaysia’s tax revenue stood at only 12.6% of gross domestic product (GDP) in 2023, one of the lowest in Southeast Asia.
“While we do not expect the reintroduction of the GST in the near term, we anticipate [that] the government will pivot towards alternative strategies that support revenue growth, without dampening consumer or business confidence,” said Kenanga Investment Bank.
Malaysia has been trying to lower a long-running fiscal deficit that stretches back to the 1998 Asian Financial Crisis. This year, the government is targeting to narrow its budget’s gap-to-GDP to 4.3%, from 5% last year.
Apart from expanding state coffers, a key plank to fixing government finances is cutting fuel subsidies deemed wasteful and channel the savings to other productive uses.
The government has withdrawn blanket subsidies for diesel this year, and economists have had high hopes that the rationalisation of the RON95 petrol that takes up a large chunk of its subsidy bill annually, would follow suit.
The current environment presents a good opportunity for the government to press ahead with the much needed fiscal and structural reforms in 2025, without burdening the low-income groups, said TA Securities.
“We believe the government will seize this newfound strength to find ways to increase revenue, boost productivity, invest in high yielding ventures, continue upgrading infrastructures, attract investments, cut subsidies and promote sustainable development, without neglecting the socio-economic aspects (of these ventures),” the house said.
On Monday (Oct 14), Economy Minister Rafizi Ramli said Malaysia’s better-than-expected economic growth and the strengthening of the ringgit has given more flexibility for the government to achieve its fiscal consolidation targets.
“With higher economic growth, we have slightly more room to navigate, to meet our fiscal glide target,” he said. “The strengthening of the ringgit also means less pressure on subsidy bills.”
Any cuts to subsidies would help lower the government’s operating expenditure currently financed by revenue. Under Malaysia’s fiscal rules, any government borrowings to cover the budget shortfall are only to finance development expenditure.
As finance minister, Anwar is also expected to continue to dish out cash generously to the lowest income groups, to help boost disposable income amid rising costs of living.
The government has trimmed subsidies — including on electricity and diesel, which could generate some RM8 billion in savings for the government annually — only to later announce an increase in civil servant salaries, totalling RM10 billion, starting next year.
That would swell the government’s allocation for operating expenditure to RM314 billion, The Edge’s poll showed. This is an additional RM10.2 billion compared to the RM303.8 billion allocated in Budget 2024.
Those rigid expenditures — emoluments, pensions payments, and debt service charges — will take up close to two-thirds of government revenue this year, and are only expected to continue growing.
The progressive wage policy also requires government support when it is fully implemented this month. The policy is expected to cover some four million people earning a monthly salary of between RM1,500 and RM4,999 in the formal sectors.
Development expenditure, meanwhile, will dip from RM90 billion allocated in Budget 2024 to RM87 billion, to keep a lid on government borrowings, according to economists surveyed. Under a law passed last year, annual development expenditure is capped under 3% of the GDP.
Still, several existing high-profile projects announced, require funding in 2025. The economic sector would likely remain the largest recipient of development allocation with a focus on the transportation sub-sector, said RHB Investment Bank.
The continuation of projects such as Central Spine Road, East Coast Rail Link, and the Rapid Transit System Link “will propel a surge in public investments and [the] construction sector for the upcoming years,” the house said.
Malaysia is also in the final year of its 12th Malaysia Plan (12MP), and the government had raised its total spending allocation to RM415 billion during the plan’s mid-term review in 2023, from RM400 billion when the plan was launched in 2021.
Total Industry Volume (TIV) in September came 15% lower at 58,032 units from 68,174 a year ago, the Malaysian Automotive Association (MAA) said on Tuesday.
Meanwhile, TIV for the year-to-date (YTD) period in September 2024 was 4% higher at 594,037 compared with 571,957 recorded in the corresponding period in 2023.
The shorter working month in September played a role in dampening sales figures.
Additionally, consumers adopting a wait-and-see approach, pending the announcement of the National Budget 2025, also contributed to the slowdown.
On a month-on-month basis, September's TIV was 20% lower than August's 72,367 units.
MAA forecasted sales in October 2024 to be higher than the September 2024 level, MAA said.
The number of passenger vehicles sold in September 2024 slipped 14% to 52,922 units from 61,548 units a year ago, while the number of commercial vehicles sold dropped 23% to 5,110 units from 6,626 units.
Similarly, there was a 6% increase in YTD passenger vehicles sold in 2024 to 543,903 units from 512,951 units. However, there was a 15% decline in commercial vehicles YTD to 50,134 units from 59,006 units.
Total production during the month under review fell 20% to 55,383 units from 69,133 a year ago. For the first nine months, production rose 5% to 593,050 from 566,442.
In July, MAA raised its vehicle sales forecast for this year by 3.38% following strong sales in the first half of the year. TIV is expected to come in at 765,000 units for 2024 compared with the 740,000 units projected at the start of the year.
Based on the total vehicles sold so far this year of 533,301 units, at least another 231,699 units will have to be sold within the next four months to achieve MAA's target.
The rise of the private credit market may lead to less systemic risk in the US financial system, despite a lack of political appetite for increasing bank capital requirements, Federal Reserve Bank of Minneapolis president Neel Kashkari said.
“It’s scary at some level, because it’s exploded to a trillion dollar plus market fairly quickly,” Kashkari said in Buenos Aires on Monday (Oct 14). “But as I’ve examined it, a bank in the US today — a big bank — is levered roughly 10 to one, 10 times as much assets for their equity. These private credit vehicles are typically levered one to one, so it’s much less leverage.”
Private credit — which generally refers to loans from non-banks — has been surging over the past few years, offering investors attractive returns versus other fixed-income products in an environment of rising interest rates. For borrowers, it has become an alternative source of funding that does away with many of the more stringent requirements that are typical in bank lending.
Kashkari said private credit vehicles may also introduce less risk because they typically lock in capital for longer compared to banks, which need to provide overnight liquidity.
“So, where does systemic risk come from? The intersection between leverage and maturity transformation. So on both those dimensions, these private credit vehicles look like they’re much lower risk than banks,” he said during a question-and-answer session at Torcuato di Tella University.
“While I wish we had tighter regulation on the banks, I’m actually cautiously optimistic that some of these market developments might actually lead to less risk — at least less systemic risk — in the financial system,” he added.
Regulators around the world have increased their scrutiny of the burgeoning US$1.7 trillion (RM7.33 trillion) private credit market in recent years. While many have dismissed concerns that the industry poses risk to the financial system, some have called for increased transparency and reporting.
GBP/USD edges lower after registering gains in the previous two sessions, trading around 1.3040 during the Asian trading hours on Tuesday. The pair remains subdued following the mixed employment data release from the United Kingdom (UK).
The UK ILO Unemployment Rate eased to 4.0% in the three months leading up to August, down from July’s 4.1% reading and below the market forecast of 4.1%. Employment Change for August showed an increase of 373,000, up from 265,000 in July. Meanwhile, Average Earnings excluding Bonuses rose by 4.9% year-on-year in the three months to August, in line with expectations, though slightly lower than the 5.1% growth recorded in July.
The US Dollar (USD) gains support from increasing expectations that the US Federal Reserve (Fed) will avoid aggressive interest rate cuts, following a strong jobs report and concerns of sticky US inflation. According to the CME FedWatch Tool, markets are currently pricing in an 88.2% probability of a 25-basis-point rate cut in November, with no anticipation of a larger 50-basis-point reduction.
On Monday, Federal Reserve (Fed) Bank of Minneapolis President Neel Kashkari reaffirmed the Fed's data-dependent approach. Kashkari reiterated familiar Fed policymaker views on the strength of the US economy, noting continued easing of inflationary pressures and a robust labor market, despite a recent uptick in the overall unemployment rate, per Reuters.
Economists are reviewing their forecasts for interest rate cuts in India after inflation accelerated faster than expected last month, fuelled by surging food prices.
Several economists, including Upasna Bhardwaj of Kotak Mahindra Bank Ltd and Gaura Sen Gupta of IDFC First Bank Ltd, say the Reserve Bank of India is unlikely to cut interest rates in December as previously predicted, after data Monday showed consumer prices rose at the fastest pace this year in September. Banks like Goldman Sachs Group and Deutsche Bank AG said they still expect the RBI to ease in December, although the risk has increased it may be pushed out to next year.
“The near-term inflation profile will remain close to 5%, which will likely keep most rate-setters members cautious,” said Kotak’s Bhardwaj, who now expects a reduction in the first half of next year.
The RBI last week shifted its policy stance to neutral to indicate a pivot soon. Governor Shaktikanta Das has kept the benchmark rate unchanged for more than 20 months and has repeatedly said he wants to bring inflation down to the 4% target level on a durable basis before he considers easing.
September’s inflation was higher than the 5.1% median forecast in a Bloomberg News survey of economists and followed August’s reading of 3.65%. On a month-on-month basis, prices rose 0.6% in September after a no change in August.
The spike in inflation was triggered mainly by food prices, which make up about half of the consumer price basket and climbed 9.24% in September from a year earlier. Vegetable costs surged 36%. Excluding the volatile food and fuel categories, the core measure of inflation accelerated slightly to 3.56% from 3.44%.
The higher-than-expected spike in vegetable inflation “poses some risk to our call of the start of the RBI monetary policy easing cycle in December”, Goldman Sachs’ economists Santanu Sengupta and Arjun Varma wrote in a note. However, some of the increase in vegetable prices should reverse in October and there could be a “sharp sequential contraction” in November-December on arrivals of fresh harvests.
While the RBI had predicted inflation would climb in September, the sharper than expected gain was worrying, economists said. Citigroup Inc economist Samiran Chakraborty, who had earlier predicted rate cuts to start in February next year, now expects the central bank to move only in April.
However, there are signs that inflation may moderate in the coming months due to above-normal rains. India recorded its best monsoon season in four years, setting the stage for a bumper harvest of crops such as rice and boosting economic prospects for rural areas.
The latest inflation print “reduces but does not remove the scope for RBI to still cut rates in December,” given the spike was driven primarily by perishable components, said Bank of America Corp. economist Rahul Bajoria. He said there are downside risks to the RBI’s economic growth forecast of 7.2% for the year through March, which may require the central bank to lower the interest rate faster.
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.