The future is here: the new FastBull 3.0 is coming soon

Summary:

We are very excited to announce that FastBull 3.0 is about to be launched! Over the past year, the FastBull team has been working hard day and night to ensure that this version will bring you an unprecedented experience.

Dear User,

We are very excited to announce that FastBull 3.0 is coming soon! Over the past year, the FastBull team has been working hard day and night to ensure that this version will bring you an unprecedented experience. Here are some exciting new features and improvements:

1. New features, new breakthroughs

Chart

FastBull focuses on trading and continuously explores and develops related functions. Now, you can perform technical analysis and execute simulated transactions through FastBull's self-developed high-performance price charts.

In the chart, we have not only integrated basic functions such as instant chat, real-time news, simulated trading, and financial calendar, but also professional functions such as pattern analysis, replay training, trading signals, and order flow. In addition, we will continue to add more drawing tools and indicators in the future, and there will be updates every week.

To give users the best charting experience, we’ve opened up all charting features, including exciting advanced features, without restrictions and free for all users.

With FastBull Charts, you will get an unparalleled trading experience!

Chat

At FastBull, you can break through language barriers and discuss market conditions and share opinions with traders from all over the world in real time in the chat room, so that you are no longer alone on your investment journey. In addition, the chat function is now end-to-end encrypted, providing greater security and privacy for your communications.

Global Chat Room: You will automatically join the global chat room, where other users' messages will be translated into the language you set, allowing you to communicate with other traders without any obstacles.

Domestic chat room: We will set up chat rooms in Vietnamese, Thai, Spanish, Arabic and other languages. Domestic users can communicate together. We will also announce in the group in the future and organize various offline activities.

Group Chat: There are many group chats on FastBull with various trading themes. You can create or join a group chat of interest and have more targeted and higher-quality discussions with group members.

Friends: You can add traders on FastBull as your friends and communicate with them about market conditions, share trading strategies and methods anytime and anywhere.

Copy Trading

We have improved the existing "AI Signal" function, and now you can follow trading on FastBull.

At present, our follow trading system has been adapted to the three major trading platforms of MT4, MT5, and FastBull, and the three can follow each other. Therefore, you don't have to worry about the problem that your trading account does not match the trading account of the signal provider.

Of course, when following trading, we also provide you with a wealth of risk control options so that you can effectively implement risk control and ensure account security.

Soon, we will open the application channel for signal providers, and everyone is welcome to sign up!

Top Traders

Top Traders is FastBull's copy trading community and a gathering place for trading experts. Here, you can explore more ways to make money!

As a novice trader, you can pay to subscribe to excellent trading experts and get their real-time trading signals. As a trading expert, you can not only show your trading ability to everyone, but also open subscription permissions and get subscription income.

More importantly, through the Top Traders, you can get to know and make friends with more trading experts. You will have the opportunity to discuss market conditions, explore transactions, and share experiences with them. Trading may become simple, interesting, and full of enthusiasm.

Contest

The FastBull Trading Competition is a grand event for traders around the world, dedicated to "discovering excellent traders and spreading high-quality trading strategies". The competition adheres to the principles of openness, fairness and justice, and aims to build a stage for participants to demonstrate their trading abilities and discover and cultivate excellent traders.

2. Upgraded functions, new experience

Market

Provide free real-time quotes, including six major categories such as indexes, stocks, foreign exchange, commodities, cryptocurrencies, and futures, to help you make quick decisions in the ever-changing market.

Stock Market: Currently supports US stocks and Vietnamese stocks, and will gradually launch stock information from more countries and regions in the future to meet your global investment needs. Among them, we will launch real-time quotes for stocks in Thailand, Malaysia, India, Europe, Indonesia, Nigeria, South Africa, Hong Kong stocks, Taiwan stocks and other countries in the next few months.

Market product information is online, covering all products, providing investors with comprehensive and in-depth fundamental, technical and other detailed information. Listed company information, financial reports, ratings, etc. of all stocks are available.

Economic Calendar

With one page at your fingertips, you can view all current and historical information such as economic data, financial reports, dividends, stock splits, IPOs, etc., allowing you to understand history, grasp the present, and win in the future.

Data impact: We use historical data to sort out its impact on price trends, making your decision more forward-looking.

Historical price chart: We display the moment of each event on the product chart.

Impact after the event: This chart allows you to understand the impact after the event from a more micro perspective.

Member

Membership rights have been fully upgraded. We will bring you a series of new membership benefits including but not limited to:

Real-time market information: foreign exchange, stocks, indices, futures, commodities, digital currencies, etc. 10,000+ varieties

Chart tools: technical indicators, drawing tools, etc.

Copy Trading: Trading Signals with Member Mark

Have a larger limit on the number of friends to add/create/join/group members

At the same time, we provide you with more payment methods to help you pay more conveniently.

3. Special features, subverting tradition

Sidebar

Quick access to quotes, news, calendar, Q&A, and chat.

You can also customize the layout, allowing you to exchange real-time market conditions, trading strategies and methods while browsing information to improve the efficiency of your investment decision-making.

Filters

Currently, we provide screeners for US stocks and Vietnamese stocks to help you find the best investment opportunities and make your investment decisions more accurate and efficient.

Respond quickly to market changes: Real-time updated data and flexible screening conditions help you quickly find stocks that match current market trends.

Copy successful investment logic: Save and apply your or others' successful investment strategies to easily find similar investment opportunities.

Discover market opportunities: Screen out potential investment opportunities based on the characteristics of underlying stocks, expand your investment scope, and increase your profit potential.

Expert Q&A

Ask questions to experts anytime, anywhere, and get free professional opinions and analysis to help you optimize your portfolio, improve your trading strategies, and maximize your investment returns.

Poster Tools

Quickly produce various financial posters and support personalized customization.

With tons of free templates, you can generate beautiful financial calendar wallpapers and professional financial posters in just ten seconds.

It is free forever and will launch more analytical strategies, event announcements, recruitment and support custom tools in the future.

Create a financial calendar poster now: https://promotion.fastbull.com/cn

Added Russian and Spanish

It supports 10 language versions, including English, Arabic, Chinese (Simplified and Traditional), Malay, Indonesian, Thai, Vietnamese, Spanish, and Russian. We will launch more languages in the future so that traders around the world can easily access and use it.

App Navigation Settings

Customize navigation for quick access to frequently used features.

How to operate: In App-My-Settings-Navigation, you can long press the fixed shortcuts in the bottom navigation and drag the order between modules according to your preferences.

Dark Mode

Dark ModeThe long-awaited dark mode that many netizens have reported is finally available in version 3.0, allowing you to use the device more comfortably at night or in dim environments, while also better protecting your privacy.

We are fully aware of the importance of each version update to users, so we strive for perfection in details and strive to bring the best user experience. Thank you very much for your continued support and trust. We look forward to witnessing this exciting moment with you!

Official launch time: July 2024

Looking forward to your arrival!

The FastBull Team

Risk Warnings and Disclaimers

You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.

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Samantha Luan

Economic

Commodity

The government is reinstating stock holding limits on wheat to stabilise prices and prevent hoarding. This limit which affects retailers, wholesalers, processors, and large chain stores will be in place until March 31, 2025. However, wheat is subject to a 40% import duty, with the effective duty reaching 44% due to additional cesses and surcharges. This measure has been implemented due to expectations of a bumper wheat harvest exceeding 112 million tonnes is expected in FY24.

Union food secretary Sanjeev Chopra confirmed that the country is not facing a wheat shortage, as the government holds sufficient reserves to meet all needs. Nonetheless, imposing a limit on wheat stocks is intended to enhance supplies, prompted by recent reports of rising prices for essential commodities, including wheat. Inflation for wheat was recorded at 6.53% year-over-year in May, but due to record sales of 10 million tonnes of wheat from Food Corporation of India (FCI) stocks since August 2023, inflation has remained in the single digits.

Wheat stocking limits

In 2022, the government also imposed an export ban on wheat, which is unlikely to be lifted soon. Current regulations allow traders and wholesalers to stock up to 3,000 tonnes, while retailers and large chain stores may store 10 tonnes at each outlet and up to 3,000 tonnes across all depots. Grain processors are permitted to retain 70% of their monthly installed capacity, multiplied by the remaining months of the 2024-25 financial year.

To ensure adherence, the government requires all entities involved in wheat storage to report their stock levels regularly and update this information on a portal managed by the department of food and public distribution. Those exceeding the limits must comply within 30 days.

Despite expectations of robust wheat procurement this season, lower yields in Madhya Pradesh — attributable to unusually warm winters affecting the harvest — have led to a price increase of Rs 2 per kg for wheat and wheat flour compared to last year.

Additionally, the government recently set stock holding limits on tur dal, reducing prices by Rs 50-200 per quintal. They are also optimistic about managing onion prices, bolstered by good stock levels and a planned increase in Kharif onion cultivation from 285,000 hectares to 353,000 hectares, which should enhance supplies during festival seasons.

Food Procurement in India

Food procurement is a crucial policy area in India, serving dual purposes: ensuring fair prices for farmers through Minimum Support Prices (MSP) and securing food availability. It supports the government in maintaining buffer stocks essential for food security and meets the requirements of the Targeted Public Distribution System (TPDS).

Procurement operations are conducted by the Food Corporation of India (FCI) and other state government agencies, based on MSPs announced by the Ministry of Agriculture. The government procures grains to fulfil commitments under the National Food Security Act and other schemes. Under the Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY), it provides 5 kg of free food grains monthly to approximately 80 million impoverished individuals.

While India’s food grain procurement system is vital for national food security, it has faced criticism from the World Trade Organisation (WTO). Some WTO members have accused India’s rice procurement for the Public Distribution System (PDS) of aiming to dominate the export market rather than serving domestic needs, thus distorting global food prices and impacting other nations’ food security.

India contests these allegations, arguing that its support, estimated at 13.7% based on outdated calculations, remains within WTO limits. The government insists on a solution that recognises the importance of food security programs and defends its minimum support price and food distribution strategy as a crucial agreement with its farmers and citizens. This stance is underscored by the fact that many developed nations, including the US and EU, offer significantly higher farm subsidies.

Source：Policy Circle

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Risk Warnings and Disclaimers

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Warren Takunda

Political

Economic

Presidential debate due to begin at 9 p.m. Eastern time Thursday

With Americans still hurting from weathering the highest inflation rate in 40 years, pocketbook issues look set to play a big role in Thursday night's presidential debate.

Inflation is now around 3%, down from a peak above 9% two years ago, but that is cold comfort for shoppers who remember paying much lower prices just a few years ago for some groceries and other essentials.

And while many voters have benefited from the stock market's SPX advance of 42% since President Joe Biden's inauguration in January 2020, as well as from the strong job market, would-be home buyers and the real-estate industry VNQ are frustrated by elevated rates for mortgages and record-high prices for housing.

That means presumptive 2024 Republican presidential nominee Donald Trump should find success with economic topics in the upcoming debate, according to Evercore ISI analysts Sarah Bianchi and Matthew Aks, both of whom previously served in the Biden administration.

"Voters remember the pre-COVID Trump-era economy fondly and they are frustrated by the fact that price levels and interest rates remain high, even if the rate of inflation has come down. To the degree the debate isabout the economy in their respective first terms, Trump wins," Bianchi and Aks said in a note.

But the Evercore duo also offered a strategy for Biden at the debate, which is scheduled to air on CNN at 9 p.m. Eastern time.

"Biden's job is to avoid spending too much time focusing on macroeconomic defense of the economy and his record. He must pivot the conversation to the two competing visions for the future," they said.

"Voters tend to support his ideas of 'having corporations and the wealthy pay their fair share of taxes,'" they said. "To the degree Biden can also package and characterize the set of Trump ideas - from tariffs to tax cuts - as inflationary, he might be able to make some progress."

It's possible the Democratic incumbent could point during the debate to a new letter from 16 Nobel prize-winning economists who support him and are forecasting that a second Trump term would reignite inflation.

Some 17% of Americans say the economy in general is the top problem facing the country, while 12% name inflation as the No. 1 issue, according to a Gallup poll last month. Taken together - at 29% - that tops the 21% of Americans who told Gallup that the government is the biggest problem, and the 19% who said it's immigration.

Healthcare, crypto and markets

For many voters, the cost of healthcare XLV is a major concern year after year, and Capital Alpha Partners analyst Kim Monk has predicted Biden and Trump could make similar points on that front.

"On drug prices, the two candidates will likely try to one-up each other on the best approach for government price controls," she said in a note.

Monk also said the two may argue about who should get credit for capping out-of-pocket costs for insulin, adding that each deserves some praise. (A recent Stat News article said that even as Biden and Trump love to take credit for getting more Americans $35 insulin, the credit should go mostly to drugmaker Eli Lilly & Co. (LLY).)

In addition, Monk said that while Trump likes to claim responsibility for the Supreme Court's 2022 decision overturning Roe v. Wade, the case that had established a constitutional right to an abortion, he will be "vulnerable on how he answers questions about access to IVF and contraception." IVF, which stands for in vitro fertilization, became a hot topic earlier this year when some providers stopped offering the fertility treatment for a brief period in Alabama following a court ruling there.

Meanwhile, Americans with cryptocurrency holdings (BTCUSD) might want to tune in to Thursday's debate, according to Jaret Seiberg, an analyst at TD Cowen Washington Research Group.

"We believe crypto is likely to come up, which gives each candidate the opportunity to expand upon their recently more positive views of the space," Seiberg said. He added that there is a "probability for headlines emerging from the debate that could impact the crypto sector," but cautioned that it "would be a mistake to assume either candidate will deliver" on any debate rhetoric.

While the Biden administration has been aggressive in bringing enforcement actions, it has "appeared to soften its opposition in the last six months" with the Securities and Exchange Commission's approvals of crypto ETFs, Seiberg said. Trump, for his part, said last month that fans of cryptocurrencies should vote for him, as he expressed support for crypto after making negative comments in prior years.

Could the debate result in any broad stock-market moves?

The upcoming debate will "provide a window into Biden's and Trump's mental acuity," and that will be consequential for domestic politics, geopolitics and potentially markets DJIA, said Terry Haines, founder of Pangaea Policy.

"If Biden stumbles or worse during the debate, the negative consequences for markets will be immediate and have significant geopolitical consequences," Haines said. That's because a sitting president's "ability to do his job will have been exposed on an international stage," and that could "raise the risk of even more aggressive actions by U.S. foes, and threaten U.S. political and international stability, which underpins financial markets to a degree unappreciated by today's investors."

One topic that just won't go away in the White House race is the 81-year-old Biden's age, with detractors often flagging his misstatements and awkward moments at events. Critics of Trump, who turned 78 this month, stress that the Republican candidate is not that much younger and emphasize his legal challenges, such as his conviction last month in a hush-money case.

Haines also warned that "investors shouldn't get too far out over their skis post-debate and overread the debate results," because more than four months remain until Election Day, with many twists and turns to come in the 2024 presidential race.

In a similar vein, Evercore's Bianchi and Aks said the upcoming debate probably won't deliver a big jolt to the race, saying it "will likely keep its same contours after Thursday."

"However, that doesn't mean the stakes aren't incredibly high," they added. "When voters are this divided and polling this close, even small movements can have determinative outcomes."

Trump has been enjoying an advantage in most polls of the battleground states that are likely to decide the presidential election. A RealClearPolitics average of swing-state polls on Tuesday shows him ahead of Biden in six such states, albeit just by 0.2 point in Michigan, while the two candidates are tied in Wisconsin.

Source: Marketwatch

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Samantha Luan

Economic

Consumer confidence in the US fell this month as expectations for business conditions, jobs, and personal incomes dimmed. The Conference Board's index fell to 100.4 from a revised 101.3 in May, data released Tuesday showed. That compared with the median estimate of 100 in a Bloomberg survey of economists.

The expectations index, which measures consumers' views over the next six months, dropped almost two points to 73; the present conditions index rose from May's revised reading.

Consumer confidence has been quite depressed over the last couple of years, as consumers are facing a higher cost of living, high borrowing costs, and a recent softening in the labour market. Business conditions in the next six months are expected to improve according to only 12.5 per cent of consumers, the lowest proportion since 2011.

“Confidence pulled back in June but remained within the same narrow range that’s held throughout the past two years, as strength in current labour market views continued to outweigh concerns about the future,” Dana Peterson, chief economist at the Conference Board, said in a statement. “However, if material weaknesses in the labour market appear, confidence could weaken as the year progresses.”

Concern about prices moderated slightly this month, but consumers still feel that grocery prices are high. Inflation data for the month of May indicates there is a broad reduction in price increases across the board for US consumers.

Consumers also scaled back plans to buy motor vehicles and major appliances, often financed, as well. However, more indicated the intention to take vacations in the second half of the year, with a greater proportion planning domestic travel.

Consumer's view of the current labour market picked up slightly. About 38.1 per cent said jobs were "plentiful," up from 37 per cent in May, while few consumers said jobs were "hard to get." The gap between those numbers rose for the first time since the start of the year, a more important gauge of labour market health.

The mixed signals from the economy have left consumer confidence in a state of flux. While a subset of the elements constituting the economy is getting better, there are still enough concerns regarding future conditions and inflation. Further, into the year, improvements in the labour market and overall economic trends will be crucial for consumer outlook and confidence.

Source：wion view

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Warren Takunda

Economic

European stock markets were higher on Wednesday as the market braced for a French election and a key U.S. inflation reading, while the yen lurked just shy of 160 per dollar level, keeping traders on alert for possible intervention.

Risk sentiment in Europe was broadly positive after a rebound in Nvidia shares on Tuesday, following three straight days of selling, and as investors focus on the monetary policy outlook and the prospect of further rate cuts

"Fears of a big imminent market wobble are now receding," said Susannah Streeter, head of money and markets at Hargreaves Lansdown.

Markets are still sensitive to risks before the first round of voting in the French legislative election on Sunday, but remained focused on monetary policy where further interest rate cuts from the European Central Bank this year seem likely.

"The key driver for markets today is all around central banks and a close second is political uncertainty," said Nathan Sweeney, chief investment officer of multi-asset at Marlborough.

"If you think about Europe in general, the ECB has started the rate-cutting journey. Companies are very sensitive to interest rates so it can really help to bolster their earnings."

The pan-European STOXX 600 was last up 0.5% to its highest level since June 13, shortly after French President Emmanuel Macron announced the snap election.

France's CAC 40 was up 0.4%, Germany's DAX gained 0.9% and Britain's FTSE 100 rose 0.6%.

After a three-session sell-off, AI chip leader Nvidia bounced back with a gain of more than 6.5%. European Shares Gain, Aussie Jumps, Yen Teeters Near 160_1

European Shares Gain, Aussie Jumps, Yen Teeters Near 160_1

Money market traders are pricing in around 45 basis points of further easing from the ECB this year, implying almost two more quarter-point rate cuts, following a 25 bps move earlier this month.

ECB policymaker Ollie Rehn said bets for two more rate cuts this year were "reasonable".

U.S. equity futures edged higher, while MSCI's broadest index of Asia-Pacific shares outside Japan crept up to 567.86, just shy of the two-year high of 573.38 it hit last week.

Japan's Nikkei ,and Taiwan stocks rose, led by chipmakers, tracking the rally in the tech-heavy Nasdaq on Tuesday, with Nvidia surging more than 6%, snapping out of a three-session tailspin that had erased about $430 billion from its market value.

On the U.S. monetary policy front, Federal Reserve officials urged patience on interest rate cuts, with governor Lisa Cook saying the central bank was on track for a rate cut if the economy's performance met her expectations. But Cook declined to say when the Fed would be able to act.

Fed Governor Michelle Bowman reiterated her view that holding the policy rate steady "for some time" would probably be enough to bring inflation under control.

The comments, along with data showing a stable housing market, kept expectations in check over when and by how much the Fed would cut rates.

"(The) worst thing the Fed could do is ease and then the data continues to firm the inflation numbers back around," said Rob Carnell, ING's regional head of research for Asia-Pacific.

Markets were pricing in 47 basis points of easing this year, with a rate cut in September pegged at 66% probability, CME FedWatch tool showed.

Traders await Friday's release of the U.S. personal consumption expenditures (PCE) price index, the Fed's preferred inflation measure, with economists polled by Reuters expecting the annual growth to ease to 2.6% in May.

AUSSIE SURGES, YEN TEETERS NEAR 160

In the currency market, the Aussie rose more than 0.5% to as high as $0.66885 after hotter-than-expected inflation data, leading markets to narrow the odds on another rate hike as early as August. European Shares Gain, Aussie Jumps, Yen Teeters Near 160_2

European Shares Gain, Aussie Jumps, Yen Teeters Near 160_2

The dollar index , which measures the U.S. currency against six peers, was slightly higher at 105.78, while the euro softened to $1.0695.

The yen was fetching 159.88 per dollar and has been trading in tight ranges as it stalks the crucial 160 level that some traders say might bring about another round of intervention.

The yen touched a 34-year low of 160.245 per dollar on April 29, prompting Tokyo to spend roughly 9.8 trillion yen in late April and early May to support the currency.

The latest slide in the yen has come in the wake of the Bank of Japan's (BOJ) decision this month to hold off on reducing bond-buying stimulus until its July meeting.

The BOJ though is dropping signals that its quantitative tightening plan in July could be bigger than markets think, and may even be accompanied by an interest rate hike.

In commodities, oil prices rose, with Brent futures 0.15% higher at $85.12 a barrel, while U.S. West Texas Intermediate futures were up 0.26% at $81.03 per barrel.

Gold prices eased to $2,313 per ounce, but remain up 12% this year, having touched a record high of $2,449.89 last month.

Source: Reuters

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Alex

Economic

Stocks

The Stoxx Europe 600 index advanced about 0.5%, led by the tech sector after a rebound in Nvidia Corp. shares helped boost the S&P 500 on Tuesday. Basic resources outperformed as crude oil and iron ore prices rose.

Among individual movers in Europe, Deutsche Post AG added more than 3% after US peer FedEx Corp.’s jumbo profit forecast. Danske Bank A/S rose more than 2% after lifting its full-year outlook.

In the absence of major data from the euro zone on Wednesday, traders are taking their cues from policy signals. Investor expectations for the European Central Bank to loosen monetary policy twice more this year are fair, according to Governing Council member Olli Rehn, who added that officials shouldn’t overly dampen economic activity.

US equity futures rose, suggesting Wall Street’s tech-driven rally — fueled Tuesday by Nvidia’s 7% jump — still has momentum. The giant chip maker was up almost 3% in US premarket trading, extending a rebound from Monday’s $430 billion rout.

“Nvidia’s volatility has weighed on market sentiment, but we think the structural investment case for artificial intelligence remains intact,” said Mark Haefele, chief investment officer at UBS Global Wealth Management. “We also hold a constructive outlook for broader equities amid solid fundamentals.”

The 10-year Treasury yield ticked higher and a gauge of the dollar was steady. The US will sell $70 billion of five-year notes later Wednesday after a solid auction of two-year Treasuries yesterday.

In Asia, Japanese and Hong Kong equity gauges rose, while those in Australia declined. Australia’s dollar and bond yields climbed after the inflation numbers suggested price pressures remain stubbornly strong and bolstered the case for the central bank to resume raising interest rates.

The yen held just below the psychologically important level of 160 per dollar, a breach of which will likely boost intervention concern.

China’s 10-year bond yield fell to a more than two-decade low as investors flocked to fixed-income securities amid concern about the slowing economy and expectations for further stimulus.

In commodities, oil rose ahead of a US government report on crude inventories and fuel demand following the release of mixed industry data. Iron ore climbed for a second day. Copper fell to the lowest in more than two months with prices facing sustained pressure from unusually weak Chinese demand. Gold was little changed.

Source：Bloomberg

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Samantha Luan

Economic

The outlook for China’s exports is set to improve, buttressing growth in the world’s second-biggest economy even as consumer spending slows, according to a Bloomberg survey of economists.

Exports are expected to climb 4.3% this year from a year ago, according to the median forecast of 22 economists surveyed over June 17-24. That’s a jump from the 2.8% gain forecast in a May survey. China’s economy may expand 5%, up from the 4.9% projected in May, according to the median of 68 estimates.

“We look for an improving trade outlook over the coming months, driven by a shift in global demand from services back to goods,” said Serena Zhou, senior China economist at Mizuho Securities Asia Ltd.

Economists Raise China Growth Forecasts as Exports Improve_1

China’s exports beat expectations in April and May, reflecting strong demand from overseas and the increasing competitiveness of Chinese producers. While this supports Beijing’s strategy of relying on exports to spur growth and offset weak spending by Chinese households, risks are mounting as its companies start to face more trade barriers from the US and Europe.

The survey findings contrast with a recent report by Goldman Sachs Group Inc., which said its clients in China are increasingly skeptical about the outlook for export growth in the coming quarters. Investors are worried about the sustainability of supply-side expansion, especially when domestic demand is weak, and the risks of trade friction, the bank said in the note dated June 23.

Economists have pared back their expectations for retail sales growth — a key gauge of consumer spending — as well as consumer and factory-gate price inflation this year, reflecting pessimism over demand as a sharp housing contraction continues, according to the Bloomberg survey.

“Recent macro data confirm that drags from the property sector remain,” said Arjen van Dijkhuizen, senior economist at ABN Amro Bank NV. “Growth is still supported by a stronger momentum in exports, but external risks are rising, as China’s overcapacity contributes to trade spats, with the US and Europe trying to protect strategic industries.”

Economists Raise China Growth Forecasts as Exports Improve_2

China is unlikely to shake off deflationary pressures this year, with economists becoming more downbeat about the prospects. They expect consumer price index to rise only 0.6% this year, while producer price index is forecast to drop 1%, both weakening from the estimates in May.

This reflects consumers’ reluctance to spend money amid concerns about their job security, income prospects and falling property values.

“Strains in the job market are still weighing on consumer spending,” said Erica Tay, an economist at Maybank Investment Banking Group. “Even as the advanced manufacturing sectors are winning global market share, their gains can only go so far in offsetting the drag to GDP growth from sluggish consumption.”

Economists pushed back their expectations for a cut to the reserve requirement ratio — the amount of cash banks must set in reserve — to the third quarter from the second quarter. The PBOC held off on easing in recent months to protect the yuan and as market liquidity was ample.

They also projected a slower growth of money supply this year compared to May, as the central bank signaled a shift in focus to the efficiency of funds rather than pure expansion.

Economists maintained their projections for policy interest rates and the loan prime rate to be cut in the third quarter.