Posted at 15 February 2025 / Categories Market Roundups
Market Roundup
•US Core Retail Sales (MoM) (Jan) -0.4%, 0.3% forecast,0.7% previous
•US Export Price Index (YoY) (Jan) 2.7% - 1.8% previous
•US Export Price Index (MoM) (Jan) 1.3% ,0.3% forecast 0.5% previous
•US Import Price Index (MoM) (Jan) 0.3%, 0.4% forecast 0.2% previous
•US Import Price Index (YoY) (Jan) 1.9% - 2.2% previous
•US Retail Control (MoM) (Jan) -0.8%, 0.3% forecast 0.8% previous
•US Retail Sales (MoM) (Jan) -0.9% -0.2% forecast, 0.7% previous
•US Retail Sales (YoY) (Jan) 4.20% - 4.36% previous
•US Retail Sales Ex Gas/Autos (MoM) (Jan) -0.5% - 0.5% previous
•Canada Manufacturing Sales (MoM) (Dec) 0.3%, 0.6% forecast, 0.7% previous
•Canada New Motor Vehicle Sales (MoM) (Dec) 135.5K, - 160.9K previous
•Canada Wholesale Sales (MoM) (Dec) -0.2% ,0.1% forecast, 0.0% previous
•US Capacity Utilization Rate (Jan) 77.8%, 77.7% forecast, 77.5% previous
•US Industrial Production (YoY) (Jan) 2.00% ,- 0.34% previous
•US Industrial Production (MoM) (Jan) 0.5%, 0.3% forecast, 1.0% previous
•US Manufacturing Production (MoM) (Jan) -0.1% ,0.1% forecast, 0.5% previous
Looking Ahead Economic Data(GMT)
•No Data Ahead
Looking Ahead Events And Other Releases(GMT)
•No Events Ahead
Currency Summaries
EUR/USD: The euro rose higher against the U.S. dollar on Friday as a delay in the introduction of trade tariffs planned by U.S. President Donald Trump raised hopes that they may not be as bad as feared, while optimism about a peace deal between Russia and Ukraine helped the single currency rally. On Thursday, Trump directed his economics team to develop plans for reciprocal tariffs on any country that imposes taxes on U.S. imports. Howard Lutnick, Trump's nominee for commerce secretary, stated that the administration would address each country individually, with studies on the issue expected to be completed by April 1.The euro rose 0.32% to $1.0497 and got as high as $1.0514, the highest since January 27. It is on pace for a weekly gain of 1.7%.Immediate resistance can be seen at 1.0507(38.2%fib), an upside break can trigger rise towards 1.0594(23.6%fib).On the downside, immediate support is seen at 1.0445(50%fib), a break below could take the pair towards 1.0375(61.8%fib).
GBP/USD: Sterling surged to its highest level against the dollar this year on Friday, following upbeat UK GDP data that enhanced confidence in the British economy, while the dollar softened amid relief over U.S. tariff concerns . Money markets are anticipating 60 basis points of additional easing from the Bank of England this year, compared to just over a quarter-point from the Federal Reserve and at least four quarter-point cuts from the European Central Bank. Investors are focusing on the fourth-quarter 2024 labor report, due next Tuesday, for further insights into the BoE's interest rate strategy. Immediate resistance can be seen at 1.2652(38.2%fib), an upside break can trigger rise towards 1.2790(23.6%fib).On the downside, immediate support is seen at 1.2538(50%fib), a break below could take the pair towards 1.2433(61.8%fib).
USD/CAD: The Canadian dollar rose to a two-month high against the U.S. dollar on Friday, as investor concerns eased over the severity of trade tariffs proposed by U.S. President Donald Trump. Trump's directive on Thursday avoided imposing new tariffs, instead launching an investigation into existing levies on U.S. goods. Last week, Trump also delayed a 25% tariff on goods from Mexico and Canada until March 4. Meanwhile, oil prices, a key Canadian export, dropped 0.5% to $70.95 a barrel as peace talks between Russia and Ukraine raised hopes of increased global energy supplies. The loonie gained 0.1%, trading at 1.4170 per U.S. dollar, its strongest intraday level since December 12.Immediate resistance can be seen at 1.4201 (Daily high), an upside break can trigger rise towards 1.4345 (50%fib).On the downside, immediate support is seen at 1.4139(61.8%fib), a break below could take the pair towards 1.4000(Psychological level).
USD/JPY: The U.S. dollar declined on Friday as investors increased bets on the Bank of Japan's continued interest rate hikes. The BOJ raised rates to 0.5% from 0.25% at its January meeting, citing Japan's progress toward sustainably achieving its 2% inflation target. BOJ Governor Kazuo Ueda has indicated readiness to raise rates further if wage growth supports inflation around 2%. Most economists expect the BOJ to raise short-term rates later this year, according to a survey by the Japan Center for Economic Research (JCER). The Japanese yen strengthened 0.37% against the greenback to 152.22 per dollar. Immediate resistance can be seen at 153.17(38.2%fib) an upside break can trigger rise towards 154.00(Psychological level). On the downside, immediate support is seen at 151.61(23.6%fib) a break below could take the pair towards 150.91 (Lower BB).
Equities Recap
Europe's main stock index closed lower on Friday as investors took a break after four consecutive sessions of gains. However, luxury stocks rose, driven by strong earnings from Birkin bag maker Hermes.
UK's benchmark FTSE 100 closed down by 0.37 percent, Germany's Dax ended down by 0.44 percent, France’s CAC finished the day up by 0.18 percent.
Wall Street stocks ended mixed on Friday, with Nvidia rising and Microsoft dipping, while Treasury yields fell a day after U.S. President Donald Trump announced reciprocal tariff plans but refrained from imposing new tariffs.
Dow Jones closed up by 0.37% percent, S&P 500 closed down by 0.01% percent, Nasdaq settled up by 0.41% percent.
Commodities Recap
Oil prices ended lower on Friday, driven by hopes for a peace deal between Russia and Ukraine that could ease global supply disruptions by lifting sanctions on Moscow. However, losses were capped by a delay in the U.S. imposing immediate reciprocal tariffs.
Brent futures settled down 28 cents, or 0.37%, at $74.74 a barrel. U.S. West Texas Intermediate (WTI) crude fell 55 cents, or 0.77%, to $70.74.For the week, Brent gained 0.11% while WTI lost around 0.37%.
Gold prices dropped over 1% on Friday as investors took profits, but they were still on track for their seventh consecutive weekly gain, driven by concerns over a global trade war following U.S. President Donald Trump's push for reciprocal tariffs.
Spot gold fell 1.6% to $2,882.99 an ounce as of 01:40 p.m. ET (1840 GMT), but remained on track for a weekly gain of 0.8%. Bullion hit a record peak of $2,942.70 on Tuesday.U.S. gold futures settled 1.5% lower at $2,900.70.