Posted at 14 February 2025 / Categories Market Roundups
Market Roundup
•New Zealand Business NZ PMI (Jan) 51.4, 45.9 previous
•New Zealand FPI (MoM) (Jan) 1.9%, 0.1% previous
•Japan Foreign Bonds Buying 1,752.9B, -1,458.4B previous
•Japan Foreign Investments in Japanese Stocks -384.4B, -315.2B previous
Looking Ahead Economic Data(GMT)
• 08:00 Spanish Core CPI (YoY) (Jan) 2.4% forecast, 2.6% previous
• 08:00 Spanish CPI (YoY) (Jan) 3.0% forecast, 2.8% previous
• 08:00 Spanish CPI (MoM) (Jan) 0.2% forecast, 0.5% previous
• 08:00 Spanish HICP (YoY) (Jan) 2.9% forecast, 2.8% previous
• 08:00 Spanish HICP (MoM) (Jan) -0.1% forecast, 0.4% previous
•10:00 China M2 Money Stock (YoY) (Jan) 7.3% forecast, 7.3% previous
•10:00 China New Loans (Jan) 770.0B, 990.0B previous
•10:00 China Outstanding Loan Growth (YoY) (Jan) 7.3% forecast, 7.6% previous
•10:00 China Total Social Financing (Jan) 6,400.0B forecast, 2,860.0B previous
• 10:00 Greek CPI (YoY) (Jan) 2.6% previous
• 10:00 Greek HICP (YoY) (Jan) 2.9% previous
• 10:00 EU Employment Change (YoY) (Q4) 0.8% forecast , 1.0% previous
•10:00 EU Employment Change (QoQ) (Q4) 0.1% forecast, 0.2% previous
•10:00 EU Employment Overall (Q4) 169,112.9K
•10:00 EU GDP (YoY) (Q4) 0.9% forecast, 0.9% previous
•10:00 EU GDP (QoQ) (Q4) 0.0% forecast, 0.4% previous
Looking Ahead Events And Other Releases(GMT)
•No Data Ahead
Currency Forecast
EUR/USD: The euro edged higher against the U.S. dollar on Friday as the dollar eased as investors reacted to U.S. President Donald Trump's delayed reciprocal tariffs and U.S. data easing concerns about inflation. Data on Thursday showed the U.S. producer price index (PPI) for final demand rose 0.4% last month, following a revised 0.5% gain in December, exceeding economists' expectations of a 0.3% rise. However, components of the PPI data linked to personal consumption expenditures (PCE), the Fed's preferred inflation measure, were softer, raising hopes that the PCE reading may be lower than expected. The data follows Wednesday's consumer price index (CPI), which showed its biggest increase in nearly 1.5 years. Immediate resistance can be seen at 1.0489(61.8%fib), an upside break can trigger rise towards 1.0526(Higher BB).On the downside, immediate support is seen at 1.0402(50%fib), a break below could take the pair towards 1.0340(61.8%fib).
GBP/USD: Sterling strengthened on Friday as investors enjoyed what might just be a brief moment of respite after U.S. President Donald Trump's reciprocal tariffs were not immediately imposed, suggesting room for negotiations. The directive from Trump on Thursday stopped short of imposing fresh tariffs, instead kicking off what could be weeks or months of investigation into the levies imposed on U.S. goods by other trading partners and then devising a response. Trump's plans to impose reciprocal tariffs on every country taxing U.S. imports have stoked fears of a wide-ranging trade war, pushing gold prices to a record high earlier this week . Immediate resistance can be seen at 1.2578(61.8%fib), an upside break can trigger rise towards 1.2613(Higher BB).On the downside, immediate support is seen at 1.2458(50%fib), a break below could take the pair towards 1.2326(38.2%fib)
AUD/USD: The Australian dollar steadied on Friday as traders evaluated the potential impact of Washington's reciprocal tariffs, which will not be implemented immediately. The delay fueled optimism that there may still be room for negotiation. A White House official stated that while the tariffs won't take effect right away, they could be imposed within weeks as Trump's team reviews trade relations. Markets are confident the Reserve Bank of Australia will cut interest rates by a quarter-point to 4.10% next week, though policymakers remain cautious about further easing. At GMT 05:57, The Australian dollar was last trading up 0.02% to $0.6318 .Immediate resistance can be seen at 0.6332(50%fib), an upside break can trigger rise towards 0.6428(61.8%fib).On the downside, immediate support is seen at 0.6243(38.2%fib), a break below could take the pair towards 0.6192(Lower BB).
USD/JPY: The U.S. dollar held steady near one-week low on Friday as traders took relief from the delay in Washington's reciprocal tariffs. Additionally, a U.S. producer price report helped ease concerns about inflation.In his latest trade action, U.S. President Donald Trump directed his economic team on Thursday to plan reciprocal tariffs on countries taxing U.S. imports. However, the directive did not introduce new tariffs, but rather launched an investigation that could take weeks or months into the levies on U.S. goods. This fueled expectations that there may still be room for negotiations between countries, helping to cushion the impact on market sentiment. Immediate resistance can be seen at 154.35(50%fib) an upside break can trigger rise towards 155.00(Psychological level). On the downside, immediate support is seen at 152.02(38.2%fib) a break below could take the pair towards 150.19 (Lower BB).
Equities Recap
Asian stocks gained on Friday, buoyed by a near-record rally in U.S. stocks, as investors largely ignored U.S. President Donald Trump's latest tariff threats.
China A50 was up 0.94 % , South Korea's KOSPI was up by 0.31%,Hang Seng was up by 3.45%
Commodities Recap
Gold prices rose on Friday, heading for a seventh consecutive weekly gain, as U.S. President Donald Trump's plan to impose reciprocal tariffs on countries taxing U.S. imports heightened fears of a global trade war.
Spot gold was up 0.1% at $2,932.81 per ounce, as of 0706 GMT, moving closer to its record peak of $2,942.70 hit on Tuesday.U.S. gold futures rose 0.5% to $2,960.40.
Oil prices gained in Asian trade on Friday, poised to end a three-week losing streak, as rising fuel demand and the delay of U.S. reciprocal tariffs until April eased concerns of a potential trade war.
Brent futures were up 23 cents, or 0.3%, at $75.25 a barrel by 0505 GMT, while U.S. West Texas Intermediate (WTI) crude gained 16 cents, or 0.2%, to $71.45.
For the week, Brent was up about 0.6% and WTI 0.5%.