As with most stocks, the Wall Street analyst community remains staunchly optimistic with an average price target of $354.25.

We continue our deep dive series with a focus on Facebook parent Meta Platforms. We will focus as ever on traditional DCF cash flow analysis as well as a relative valuation model to forecast a 12-month price target.

Football fans will have to wait until the winter to see the World Cup – but forex traders have their dream team playing in a panel already now.

The US economy contracted for a second consecutive quarter, indicating a technical recession. Inflation at both shores of the Atlantic reached fresh multi-decade highs in July. EUR/USD's long-term bearish stance remains intact, with fresh multi-year lows in sight.

GBP/USD booked second straight weekly advance as the Fed disappointed. US recession fears loom ahead of NFP while BOE is set for a 50 bps rate hike. Daily technical setup favors bulls, with a test of 1.2500 likely on the cards.  

Gold closed the second straight week in positive territory. Falling US T-bond yields helped XAUUSD gather bullish momentum. Additional gains are likely in case buyers clear $1,780 resistance.

Bitcoin has overcome the 200-week SMA and 30-day EMA, denoting a major surge in bullish momentum. As a result, BTC could revisit anywhere from $25,000 to $30,000 soon. A daily candlestick close below 200 four-hour SMA at $21,117 will invalidate this bullish thesis. 

The confusion in the investors' minds continues to feed through to the marketplace as the early week rally peters out and Friday sees a turnaround. With the rally reaching around 7% for the S&P 500 (SPY) that is no surprise.

Its certain that the Federal Reserve will be hiking rates again this week by another 75bps, with the only question being what comes in September, and whether we see 50bps or another 75bps.