Posted at 07 March 2025 / Categories Market Roundups
Market Roundup
•China Exports (Feb) 3.40M, 10.90M previous
•China Imports (Feb) -7.30M, 1.30M previous
•China Trade Balance (Feb) 1,226.06B, 990.00B forecast, 752.91B previous
•China Exports (YoY) (Feb) 2.3%, 5.0% forecast, 10.7% previous
•China Imports (YoY) (Feb) -8.4%,1.0% forecast, 1.0% previous
•China Trade Balance (USD) (Feb) 170.52B,147.50B forecast, 104.84B previous
Looking Ahead Economic Data(GMT)
•07:45 French Current Account (Jan) 2.40B previous
•07:45 French Exports (Jan) 52.3B previous
•07:45 French Imports (Jan) 56.2B previous
•07:45 French Reserve Assets Total (Feb) 275,078.0M previous
•07:45 French Trade Balance (Jan) -4.1B forecast,-3.9B previous
•08:00 Swiss Foreign Reserves (USD) (Feb) 736,392.0B previous
• 08:00 Spanish Industrial Production (YoY) (Jan) 2.1% previous
•10:00 UK Mortgage Rate (GBP) (Feb) 7.49% previous
•10:00 EU GDP (QoQ) (Q4) 0.30% previous
•10:00 Greek GDP (YoY) (Q4) 2.4% previous
•10:00 Greek Quarterly Unemployment Rate (Q4) 9.0% previous
•10:00 Greek Unemployment Rate (Feb) 9.4% previous
•10:00 EU Employment Change (YoY) (Q4) 0.6% forecast, 1.0% previous
•10:00 EU Employment Change (QoQ) (Q4) 0.1% forecast, 0.2% previous
•10:00 EU Employment Overall (Q4) 169,345.0K forecast, 169,112.9K previous
•10:00 EU GDP (YoY) (Q4) 0.9% forecast, 0.9% previous
•10:00 EU GDP (QoQ) (Q4) 0.1% forecast, 0.4% previous
Looking Ahead Events And Other Releases(GMT)
• No Events Ahead
Currency Summaries
EUR/USD: The euro remained steady near a four-month high on Friday, staying strong ahead of key U.S. nonfarm payrolls data . The European Central Bank (ECB) on Thursday cut interest rates again but warned of phenomenal uncertainty , including the risk that trade wars and more defence spending could fuel inflation, raising the prospect of a pause in its policy easing next month . The ECB on Thursday raised its inflation forecast to 2.3% this year for the euro zone, above the 2.1% seen three months ago. Measures of longer-term inflation in the euro zone have already surged from around 2.05% early this week to 2.24% by Thursday, an unusually large shift.Immediate resistance can be seen at 1.0832 (Daily high), an upside break can trigger rise towards 1.0902(23.6%fib).On the downside, immediate support is seen at 1.0772(38.2%fib), a break below could take the pair towards 1.0657(50%fib).
GBP/USD: The British pound head steady on Friday as investors looked ahead to the highly anticipated US jobs report for further insights into health of US economy. Following a slew of mixed economic data out of the United States this week, focus on Friday falls on U.S. nonfarm payrolls numbers as market participants assess whether the economy is headed for a cool-down in growth. Nonfarm payrolls likely increased by 160,000 jobs after rising 143,000 in January, a survey showed. The unemployment rate is forecast unchanged at 4.0%. U.S. data on Thursday was mixed overall, providing more evidence of a looming slowdown. Immediate resistance can be seen at 1.2920(23.6%fib), an upside break can trigger rise towards 1.2949(Higher BB).On the downside, immediate support is seen at 1.2777(38.2%fib), a break below could take the pair towards 1.2672(50%fib)
AUD/USD: The Australian dollar slipped lower from one week high on Friday as investors awaited U.S. payrolls data. Market focus shifted to Friday’s U.S. nonfarm payrolls data as investors gauge signs of a potential economic slowdown. Nonfarm payrolls are expected to rise by 160,000 in February, up from 143,000 in January, while the unemployment rate is forecast to remain at 4.0%, a survey showed. Investors have ramped up bets of further Federal Reserve rate cuts this year following a slew of weaker-than-expected U.S. economic data and worries about the impact of Trump's tariffs At GMT 05:47, The Australian dollar was last trading up 0.43% to $0.6304. Immediate resistance can be seen at 0.6358(50%fib), an upside break can trigger rise towards 0.6418(61.8%fib).On the downside, immediate support is seen at 0.6290(38.2%fib), a break below could take the pair towards 0.6222(23.6%fib).
USD/JPY: The dollar weakened against the yen on Friday as Japanese yen continues to be underpinned by increasing bets for more BoJ rate hikes. The BOJ is widely expected to keep policy steady at the March 18-19 meeting, having just raised interest rates to 0.5% from 0.25% at their previous January meeting, with markets largely tipping the next hike in the third quarter. Focus for financial markets later in the day will be on the U.S. nonfarm payrolls report, followed by a speech from Federal Reserve Chair Jerome Powell, which could provide more clarity on the outlook for rates in the world's biggest economy.The U.S. dollar index fell 0.21% to 103.97.Against the Japanese currency, the dollar was last down 0.26% at 147.59 yen . Immediate resistance can be seen at 148.08(38.2%fib) an upside break can trigger rise towards 148.77(38.2%fib). On the downside, immediate support is seen at 147.40(23.6%fib) a break below could take the pair towards 147.08(Lower BB).
Equities Recap
Asian stocks declined on Friday as fragile investor sentiment followed a volatile week marked by U.S. trade policy uncertainty and rising global borrowing costs.
Japan’s Nikkei was down 2.26% , South Korea's KOSPI was down 0.46%,Hang Seng was down by 0.72 %, China A50 was down by 0.03%
Commodities Recap
Gold remained steady on Friday and was set for a weekly gain as uncertainty over Trump’s tariff plans boosted demand, while investors awaited U.S. nonfarm payrolls data.
Spot gold was unchanged at $2,911.00 an ounce as of 0548 GMT. Bullion has gained 1.7% so far this week.U.S. gold futures lost 0.3% to $2,918.80.
Oil prices remained steady on Friday but were on track for their biggest weekly drop since October, as U.S. tariff policy uncertainty raised demand concerns amid plans for increased output by major producers.
Brent futures rose 17 cents, or 0.24%, to $69.63 a barrel by 0315 GMT. U.S. West Texas Intermediate futures rose 12 cents, or 0.18%, to $66.48 a barrel.