Posted at 17 April 2025 / Categories Market Roundups
Market Roundup
•US Core Retail Sales (MoM) (Mar): 0.5%, 0.4% forecast, 0.7% previous
•US Retail Control (MoM) (Mar): 0.4%, 0.6% forecast, 1.3% previous
•US Retail Sales (YoY) (Mar): 4.60%, no forecast, 3.54% previous
•US Retail Sales (MoM) (Mar): 1.4%, 1.3% forecast, 0.2% previous
•US Retail Sales Ex Gas/Autos (MoM) (Mar): 0.8%, 0.8% previous
•US Capacity Utilization Rate (Mar): 77.8%, 78.0% forecast, 78.2% previous
•US Industrial Production (YoY) (Mar): 1.34%, 1.45% previous
•US Industrial Production (MoM) (Mar): -0.3%, -0.2% forecast, 0.8% previous
•US Manufacturing Production (MoM) (Mar): 0.3%, 0.3% forecast, 1.0% previous
•Canada BoC Interest Rate Decision: 2.75%, 2.75% forecast, 2.75% previous
•US Business Inventories (MoM) (Feb): 0.2%, 0.3% forecast, 0.3% previous
•US Housing Market Index (Apr): 40, 38 forecast, 39 previous
•US Retail Inventories Ex Auto (Feb): 0.1%, 0.1% forecast, 0.5% previous
•US Crude Oil Inventories: 0.515M, 0.400M forecast, 2.553M previous
•US Gasoline Inventories: -1.958M, -1.600M forecast, -1.600M previous
Looking Ahead Economic Data(GMT)
•23:50 Japan Adjusted Trade Balance: no actual, -0.25T forecast, 0.18T previous
•23:50 Japan Exports (YoY) (Mar): 4.5% forecast, 11.4% previous
•23:50 Japan Foreign Bonds Buying: -2,569.8B previous
•23:50 Japan Foreign Investments in Japanese Stocks: 1,808.4B previous
•23:50 Japan Imports (YoY) (Mar): 3.1% forecast, -0.7% previous
•23:50 Japan Trade Balance (Mar): 485.3B forecast, 584.5B previous
•01:30 Australia Employment Change (Mar): 39.8K forecast, -52.8K previous
•01:30 Australia Full Employment Change (Mar): -35.7K previous
•01:30 Australia NAB Quarterly Business Confidence: -4 previous
•01:30 Australia Participation Rate (Mar): 67.0% forecast, 66.8% previous
•01:30 Australia Reserve Assets Total (Mar): 103,702.0B previous
•01:30 Australia Unemployment Rate (Mar): 4.2% forecast, 4.1% previous
Looking Ahead Events And Other Releases(GMT)
•01:30 Japan BoJ Board Member Nakagawa Speaks
Currency Summaries
EUR/USD: The euro strengthened on Wednesday as the dollar softened as investors closely monitoring rising trade war risks and any updates on tariff measures. Tensions between the U.S. and China are escalating, with their trade conflict nearing a critical point. The latest development saw the U.S. Commerce Department imposing fresh restrictions on semiconductor exports to China.Market sentiment remains fragile, as President Donald Trump’s unpredictable policy moves continue to fuel uncertainty. Traders are increasingly concerned about the broader impact these tensions could have on global economic growth. The euro was last up 0.84% on the day at $1.1376, holding below a three-year high of $1.1473 reached on Friday. Immediate resistance can be seen at 1.1426(23.6%fib), an upside break can trigger rise towards 1.1550(Higher BB).On the downside, immediate support is seen at 1.1272(Daily low), a break below could take the pair towards 1.1191(38.2%fib).
.GBP/USD: The British pound strengthened against the U.S. dollar on Wednesday as a softer-than-expected inflation print lifted investor sentiment. British inflation eased to its lowest level in three months in March, with other key indicators tracked by the Bank of England also showing signs of cooling. However, rising household bills and employer costs are expected to keep upward pressure on prices, especially amid the uncertainty of U.S. President Donald Trump's trade war.Annual inflation slowed to 2.6% in March, down from 2.8% in February, falling short of both the Bank of England’s forecast of 2.7% and the expectations from a poll of economists. The Bank of England remains cautious ahead of its interest rate decision next month as U.S. tariffs could add further uncertainty to the economic outlook. Immediate resistance can be seen at 1.1387(23.6%fib), an upside break can trigger rise towards 1.3322(Higher BB).On the downside, immediate support is seen at 1.3164(April 16th low), a break below could take the pair towards 1.3125(38.2%fib).
USD/CAD: The Canadian dollar strengthened against the U.S. dollar on Wednesday, as the greenback fell broadly and the Bank of Canada paused its interest rate cutting cycle. The BoC kept its benchmark rate steady at 2.75%, marking its first pause after seven consecutive cuts, citing uncertainty around U.S. tariffs as a key reason for withholding regular economic forecasts. Markets are pricing in roughly a 50% chance that the central bank will resume easing at its next policy meeting on June 4, with expectations of two additional cuts by year-end. Meanwhile, oil prices—crucial to Canada’s economy—climbed 1.8% to $62.45 a barrel after the U.S. imposed new sanctions on Chinese importers of Iranian oil. The loonie was trading 0.6% higher at 1.3875 per U.S. dollar , moving back in reach of the five-month high it touched on Monday at 1.3827..Immediate resistance can be seen at 1.4123 (38.2%fib), an upside break can trigger rise towards 1.4200(50%fib).On the downside, immediate support is seen at 1.3838(23.6%fib support), a break below could take the pair towards 1.4000 (Psychological level)
USD/JPY:The dollar dipped on Wednesday as traders awaited potential progress in U.S. trade negotiations. The greenback weakened amid anticipation over whether the Trump administration would reach new trade agreements with key partners. The U.S. is currently in talks with several countries, including Japan, while tensions with China continue to escalate.President Donald Trump announced he would personally attend a meeting between Japanese and U.S. trade officials on Wednesday. Meanwhile, South Korean Finance Minister Choi Sang-mok is set to meet with U.S. Treasury Secretary Scott Bessent next week to discuss trade matters.On the economic front, U.S. retail sales surged in March as households ramped up purchases of motor vehicles ahead of anticipated tariffs. The dollar fell 0.71% to 142.22 yen, after touching 142.03 earlierits lowest level since September 30, slipping just below Friday’s low. Immediate resistance can be seen at 143.13 (Daily high) an upside break can trigger rise towards 144.46(38.2%fib) On the downside, immediate support is seen at 142.00(Psychological level)a break below could take the pair towards 140.63(Lower BB).
Equities Recap
European shares closed lower on Wednesday, dragged down by losses in semiconductor-related stocks after ASML, the world’s largest chip-making equipment supplier, warned that rising U.S. tariffs were adding uncertainty to its outlook for 2025 and 2026.
UK's benchmark FTSE 100 closed up by 0.32 percent, Germany's Dax ended up by 0.27percent, France’s CAC finished the day down by 0.07 percent.
U.S. stocks fell sharply on Wednesday after Nvidia warned of significant charges stemming from new U.S. restrictions on chip exports to China, while Federal Reserve Chair Jerome Powell said economic growth in the U.S. appears to be losing momentum.
Dow Jones closed down by 1.73 %percent, S&P 500 closed down by2.24% percent, Nasdaq closed down by 3.07% percent.
Commodities Recap
Gold prices extended their record rally on Wednesday, surpassing $3,300 per ounce, as a weaker dollar and growing U.S.-China trade tensions drove investors to seek the safety of the precious metal.
Spot gold climbed 3.1% to $3,327.97 an ounce as of 1:45 p.m. ET (1745 GMT), after hitting a record high of $3,332.89 earlier in the session. U.S. gold futures gained 3.3% to settle at $3,324.50.
Oil prices surged nearly 2% on Wednesday, reaching a two-week high, as concerns about global supply disruptions mounted after Washington imposed new sanctions on Chinese importers of Iranian oil.
Brent crude futures settled up $1.18, or 1.8%, to $65.85 a barrel, while U.S. West Texas Intermediate crude ended $1.14, or 1.9%, higher at $62.47.