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
The market’s reaction to ECB decision and the post-decision presser could be mixed.
Copper and iron ore futures are down this morning, and the AUDUSD – though better bid after yesterday’s selloff below the 100-DMA, sees resistance near this level. Crude oil, on the other hand, remains under pressure a touch above the $70pb despite a surprise decline in US oil inventories last week, according to the latest API release. China’s inability to cheer investors up and the fading worries that Israel will attack the Iranian oil facilities, combined with a deteriorating global demand outlook suggest that it’s not a matter of if, but a matter of when and by how much US crude will sink below the $70pb level. The bearish oil outlook remains supportive of a softer Loonie against the greenback, along with the softening price pressures in Canada. Released yesterday, the latest CPI report revealed that inflation in Canada eased faster than expected in September and the headline figure now stands near 1.6% – backing further rate cuts from the Bank of Canada (BoC) to support the economy.
In the US, the unexpected fall in NY Empire manufacturing index gathered little attention yesterday. The US dollar index extended gains above the 100-DMA, as Cable slipped below the 1.30 level after inflation report in Britain came in softer than expected and boosted the Bank of England (BoE) doves’ expectation of rate cuts in Britain. The sterling bears are now testing the major 38.2% Fibonacci retracement, a few pips below the 1.30 mark, to reverse the April to September positive trend and send the pair into a medium-term bearish consolidation zone.
Across the Channel, the EURUSD took out the 200-DMA support yesterday and extended losses to 1.0850 level ahead of today’s European Central Bank (ECB) decision. The ECB is expected to lower its rates by another 25bp as the headline Eurozone inflation eased below the bank’s 2% target in September and the Eurozone economies are struggling to keep their head above water. Germany, once the zone’s growth engine, is thought to be in mild recession, its car factories are suffering the Chinese EV competition – and will likely be heavily hit by the European tariffs on Chinese EVs that will fire back on the European carmakers. Its iconic VW already announced factory closures, and even ASML, which was the proxy of the AI trade in Europe, is not doing well after it confessed that orders are looking weak into 2025 due to a delayed recovery in chip industry – concerning other than AI chips, and the European luxury brands – which are among the biggest European companies – are heavily hit by the fading Chinese/Asian spending. LVMH erased all gains triggered by the Chinese stimulus optimism of late September and is back to the down-trending trend building since March this year. Under these circumstances, the ECB could safely deliver another 25bp cut today and hint at more rate cuts to come. The only thing that could held the ECB officials back from sounding overly dovish is persistent core and services inflation in the region. The ECB members will likely remain cautious regarding that metric to make sure that the rate cuts don’t happen faster than the music. But in fine, the Eurozone needs financial relief and inflation’s trajectory, both in the Eurozone and away, are supportive of further monetary policy easing.
The market’s reaction to ECB decision and the post-decision presser could be mixed. A rate cut today, a dovish message from the ECB and another 25bp cut in December are already widely priced in. Lagarde’s tone at the post-decision press conference will play a crucial role in determining whether the euro will further weaken against the dollar. We could see a buy-the-rumour-sell-the-fact reaction to today’s decision if Lagarde highlights risks regarding the softening inflation. If the ECB does not convey strong confidence that today’s rate cut is merely a midpoint in a series of reductions, the EURUSD may experience a rebound from its near-overbought conditions. But any potential price rallies will likely see a solid resistance near the 1.0980 level, the major 38.2% Fibonacci retracement on April to September to rebound, and keep the pair within the medium-term bearish consolidation zone for further depreciation in the medium run. Paradoxically, the Stoxx 600 index is trading near an ATH level as the cyclical nature of the European stocks fuelled by lower global rate prospects have been boosting appetite for European companies since a year now. Whether the European stock bulls will survive to what could be a gloomy earnings season is yet to be seen.
In the US, however, the earnings season is going quite well, as Morgan Stanley also announced better-than-expected earnings and closed the march for big banks on a positive note. The S&P500 consolidates near record.
USD/CAD gains ground due to solid US Dollar (USD), which could be attributed to the fading likelihood of further bumper rate cuts by the Federal Reserve (Fed) following strong US labor and inflation data. The USD/CAD pair trades around 1.3770 during the early European hours on Thursday.
Market expectations are leaning toward a total of 125 basis points (bps) in rate cuts by the US Federal Reserve (Fed) over the next year. According to the CME FedWatch Tool, there is a 92.1% chance of a 25-basis-point rate cut in November, with no expectation of a larger 50-basis-point reduction.
Traders await the US Retail Sales data, scheduled to be released later in the day. Expectations are for monthly consumer spending to increase by 0.3% in September, up from 0.1% in the previous reading.
The Canadian Dollar (CAD) is under pressure as Canada's latest inflation report for September has reignited expectations for a 50 basis point rate cut by the Bank of Canada (BoC) next week. The annual inflation rate dropped to 1.6% in September, the lowest since February 2021, falling below the central bank's 2% target.
Additionally, Standard Chartered's Research report anticipates that the BoC will implement a 50 basis point rate cut, rather than the previously expected 25 bps, at both of its remaining meetings in 2024. Slowing economic growth, declining inflation, rising inflation expectations, and swelling mortgage costs are contributing to the case for deeper cuts. The forecast now sees the BoC's policy rate at 3.25% by the end of 2024 and 2.25% by the end of 2025, down from prior estimates of 3.75% and 3.0%, respectively.
The European Central Bank (ECB) interest rate decision will be announced following the October monetary policy meeting at 12:15 GMT on Thursday.
ECB President Christine Lagarde's press conference will follow, beginning at 12:45 GMT, where she will deliver the prepared statement on monetary policy and respond to media questions. The ECB announcements are likely to ramp up the Euro (EUR) volatility.
Following the September policy meeting, the ECB decided to lower the interest rate on the marginal lending facility to 3.9% from 4.5% and the deposit facility, also known as the benchmark interest rate, by 25 basis points (bps) to 3.5%. The ECB also cut the interest rate on the main refinancing operations by 60 bps to 3.65%.
The ECB is widely expected to lower the deposit facility rate by another 25 bps to 3.25% after the October meeting.
In the post-meeting press conference, President Lagarde refrained from offering any clues regarding the timing of the next rate cut, saying that there was a relatively short time to the October meeting and adding that they have no commitment of any kind.
However, after the data published by Eurostat showed that the annual Harmonized Index of Consumer Prices (HICP) softened to 1.8% in September from 2.2% in August, investors started to lean toward an additional policy-easing step in October.
According to Reuters, over 90% of economists polled expect a 25 bps cut after September's inflation dipped below the ECB’s target of 2%. Furthermore, most of those surveyed expect another 25 bps reduction in key rates in December.
Previewing the October ECB event, “data has rapidly moved against the ECB's September messaging, and we and the market now expect a 25bps rate cut at the October meeting,” said TD Securities analysts.
“Governing Council members have opened the door wide open to a cut as well. The messaging of a ‘meeting-by-meeting’ approach to policy is likely to remain, but Lagarde is unlikely to steer away from a December cut,” they added.
After losing more than 1.5% against the US Dollar (USD) in the first week of October, the Euro has broadly stabilized. Heading into the ECB showdown, EUR/USD stays in a consolidation phase below 1.1000.
ECB President Christine Lagarde is likely to stick to the bank’s data-dependent stance and refrain from giving a certain response on the next rate cut move. In case she reiterates the ECB expectation of inflation rising again in the latter part of the year, investors could see this as a sign of the ECB holding interest rates unchanged at the last policy meeting of the year on December 12. In this scenario, the immediate reaction could be positive for the Euro.
Conversely, the Euro could come under renewed selling pressure if the policy statement, or Lagarde, voices growing concerns over a worsening economic outlook in the Eurozone, while acknowledging better-than-forecast progress in disinflation. In the revised projections, ECB staff saw inflation at 2.5% in 2024 and 2.2% in 2025.
Moreover, the accounts of the ECB’s September meeting showed that policymakers noted that negative surprises in the Purchasing Managers Index (PMI) manufacturing output readings and weakening foreign demand indicated potential headwinds to the near-term outlook.
Eren Sengezer, European Session Lead Analyst at FXStreet, offers a brief technical outlook for EUR/USD:
“The near-term technical points to a bearish bias for EUR/USD. The Relative Strength Index (RSI) indicator on the daily chart stays in the bearish territory well below 50, while holding above 30, suggesting that the pair has more room on the downside before turning technically oversold.”
“The Fibonacci 61.8% retracement level of the July-September uptrend and the 200-day Simple Moving Average (SMA) form strong support at 1.0870 ahead of 1.0800 (Fibonacci 78.6% retracement) and 1.0680 (beginning point of the uptrend). On the upside, 1.1000 (Fibonacci 38.2% retracement) aligns as key resistance before 1.1060-1.1080 (50-day SMA, Fibonacci 23.6% retracement) and 1.1200 (end point of the uptrend)."
The US Dollar (USD) continued to gather strength against its major rivals midweek, with the USD Index rising 0.3% to register its highest daily close in over two months on Wednesday. On Thursday, the European Central Bank (ECB) will announce monetary policy decisions. In the American session, the US economic calendar will feature weekly Initial Jobless Claims data, alongside the Retail Sales and Industrial Production figures for September.
During the Asian trading hours, the data from Australia showed that the Unemployment Rate held steady at 4.1% in September. The Employment Change was up 64.1K, with Full-Time Employment rising by 51.6K. After closing the third consecutive trading day in negative territory on Wednesday, AUD/USD staged a rebound early Thursday and was last seen rising 0.3% on the day, slightly below 0.6700. In the meantime, People’s Bank of China (PBOC) Deputy Governor said on Thursday that most stock of existing mortgage loans interest rates will be adjusted on October 25, adding that this adjustment will apply to 90% of existing mortgages.
The ECB is widely expected to lower key rates by 25 basis points following September rate cuts. After the ECB announces the policy decisions, ECB President Christine Lagarde will speak at a press conference starting at 12:45 GMT and respond to questions from the press. Pressured by the persistent USD strength, EUR/USD extended its weekly slide and registered losses on Wednesday. The pair struggles to find a foothold in the European morning on Thursday and trades at its weakest level since early August at around 1.0850.
GBP/USD declined sharply on Wednesday as the September inflation data from the UK, which showed that inflation softened at a faster pace than forecast, triggered a selloff in Pound Sterling. After losing more than 0.6% on Wednesday, GBP/USD fluctuates in a tight channel below 1.3000 on early Thursday.
USD/JPY registered small gains on Wednesday as it struggled to gather bullish momentum. The pair holds steady in the European morning and trades slightly above 149.50.
Gold closed the second consecutive day in positive territory on Wednesday. XAU/USD continues to edge higher and trades within a touching distance of the all-time-high it set at $2,685.
TA Securities said the government should consider the feasibility of a second, larger-capacity interconnection facility for exports of renewable energy (RE) between Peninsular Malaysia and Singapore, as the interconnection capacity is rapidly "depleting".
The research firm noted that while Singapore's plans to import up to six gigawatts (GW) of clean electricity over the next decade, Malaysia currently has a 1GW interconnection with Singapore to accommodate electricity trade.
"However, this interconnection capacity is fast depleting with only an estimated 100MW remaining capacity that can be further utilised," it said in a note on Thursday.
TA Securities noted that half of the 1GW interconnection capacity is reserved for grid balancing, while 100MW for Tenaga Nasional Bhd’s export to Singapore via YTL Power Seraya, 100MW for the pilot Energy Exchange Malaysia scheme and another 200MW is reserved for the Laos-Thailand-Malaysia-Singapore Power Integration Project.
"Considering the 6GW clean electricity import potential by Singapore over the next decade, we see reason for the government to consider the feasibility of a second, larger capacity interconnection facility between Peninsular Malaysia and Singapore," it added.
TA Securities believe YTL Power Bhd is one of the beneficiaries of potential RE exports to Singapore, having an advantage of existing generation and retail operations in the Singapore market.
"YTLPOWR could benefit from both RE export margins from Malaysia and at the other end, sale of green electricity to the Singapore market," it added.
Furthermore, YTLPOWR attains a strong balance sheet that can support expansion in its RE capacity for exports, which was beefed up by the RM3 billion proceeds from the sale of its 33.5% stake in Electranet, coupled with rising cash flows from a strong recovery in Power Seraya’s earnings.
"Meanwhile, Tenaga is a beneficiary of wheeling charges for RE export and investments into potentially a second, larger interconnector between Peninsular Malaysia and Singapore," it added.
Overall, TA Securities has maintained an “overweight” call on the Power and Utilities backed by the government’s firm policy support and the sector’s strong ESG profile.
Key players such as Samaiden Group Bhd, Solarvest Holdings Bhd, Sunview Group Bhd, Tenaga, Malakoff Corp Bhd and YTLPOWR are among beneficiaries poised to play leading roles in this transformation, with analysts from TA Securities maintaining a “buy” call on the sector.
As the sole grid operator, Tenaga is well-positioned to benefit from increased grid capex to accommodate higher RE integration and strong demand from data centres.
Similarly, asset owners such as Malakoff and YTLPOWR stand to benefit from rising demand for domestic and export-driven RE generation capacity.
Despite ongoing efforts, “Malaysia's significant dependence on fossil fuels presents a key challenge particularly in the power sector,” TA Securities flagged, noting that the country continues to rely heavily on coal-fired power plants due to longstanding policies aimed at energy diversification.
Nonetheless, TA Securities noted that Malaysia’s energy transition plan is spearheaded by The Malaysian Renewable Energy Roadmap (MyRER) and the latest National Energy Transition Roadmap (NETR), both of which lay the groundwork for the nation’s commitment towards the Paris Agreement NDC and Net-Zero 2050 ambition.
As part of the Nationally Determined Contributions (NDC), Malaysia has pledged to reduce its greenhouse gases (GHG) emissions by 45% by 2030, and according to TA Securities, “Decarbonising Malaysia’s power system is crucial to achieve these targets.”
Under the MyRER, Malaysia aims to add 9GW of RE capacity to the power system, targeting 31% of its RE mix by 2025 and 40% by 2035, providing a clear pathway for the country’s energy transition efforts and creating ample opportunities for domestic RE players, especially in the solar and hydro space.
Underpinning the sector’s prospectus further, the NETR is pursuing a more aggressive target of 70% RE capacity mix by 2050, which will demand an additional 60GW of RE capacity, predominantly from solar energy, signalling a seismic shift in the country's energy landscape.
Looking forward, Malaysia is also positioning itself to become a key player in the regional energy trade by lifting the RE export ban to pave way for the nation to capitalise on higher green tariffs in Singapore and other neighboring countries.
Refiner Phillips 66 said it would shut down a refinery in the vicinity of Los Angeles by the end of next year on what the AP called market concerns and Reuters cited the company’s chief executive as mentioning “market dynamics”.
The decision was announced just days after California’s governor, Gavin Newsom, signed into law a bill that would give state energy regulators to mandate certain fuel inventory levels for refiners and to approve scheduled maintenance at refineries.
“Price spikes at the pump are profit spikes for Big Oil,” Newsom said back in August when he proposed the bill. “Refiners should be required to plan ahead and backfill supplies to keep prices stable, instead of playing games to earn even more profits. By making refiners act responsibly and maintain a gas reserve, Californians would save money at the pump every year.”
The proposal follows findings by the California Energy Commission that for 63 days last year, refiners in the state maintained a gasoline inventory of just 15 days of consumption, which, according to the governor’s office, led to higher prices.
The Phillips 66 L.A.-area facility produces 85,000 barrels of gasoline and 65,000 barrels of diesel fuel daily, Reuters noted in its report. That would be 85,000 bpd of gasoline and 65,000 bpd of diesel fuel less for California drivers who have been struggling under the highest gas prices in the country.
For these prices, the governor and his government are blaming oil companies such as Phillips 66, accusing them of withholding supply in order to get higher prices for their products. The industry, for its part, has noted that California has the highest add-on costs in the form of excise duties and carbon tax.
The Phillips 66 refinery closure will result in the loss of 600 company jobs and 300 contractor jobs.
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.