Posted at 25 April 2025 / Categories Market Roundups
Market Roundup
•US?Continuing?Jobless?Claims??1,841K,?1,880K?forecast, ?1,885K?previous
•US Core Durable Goods Orders (MoM) (Mar) 0.0%,0.3% 0.7%?previous
•US Durable Goods Orders (MoM) (Mar) 9.2%,2.1% forecast,?0.9%?previous
•US Durables Excluding Defense (MoM) (Mar) 10.4%,0.2% forecast,? 0.8%?previous
•US Goods Orders Non Defense Ex Air (MoM) (Mar) 0.1%,0.2% forecast, ? -0.3%?previous
•US Initial Jobless Claims 222K ,222K forecast, ? 215K?previous
•US Jobless Claims 4-Week Avg. 220.25K,220.75K?previous
•Canada Average Weekly Earnings (YoY) (Feb) 5.40%,5.47%?previous
•US Existing Home Sales (Mar) 4.02M,4.14M forecast,4.26M previous
•US Existing Home Sales (MoM) (Mar) -5.9%,-3.0% forecast,4.2% previous
•US Natural Gas Storage 88B,69B forecast,16B previous
•US KC Fed Composite Index (Apr) -4,-2 previous
•US KC Fed Manufacturing Index (Apr) -5, 1 previous
•US 4-Week Bill Auction 4.220%,4.240% previous
•US 8-Week Bill Auction 4.225%, 4.235% previous
•US Atlanta Fed GDPNow (Q1) -2.5%, -2.2%forecast, -2.2% previous
Looking Ahead Economic Data(GMT)
•05:00 Japan Coincident Indicator (MoM) (Feb) 0.8% forecast, 0.1% previous
•05:00 Japan Leading Index (MoM) (Feb) -0.3% forecast, 0.4% previous
•05:00 Japan Leading Index (Feb) forecast, 107.9 108.2 previous
Looking Ahead Events And other Releases(GMT)
•No Events Ahead
Currency Summaries
EUR/USD: The euro edged lower against dollar on Thursday as Federal Reserve officials expressed concern over the potential economic consequences of tariffs, despite advocating for a patient approach to future interest rate hikes. While the Fed officials reiterated their stance of caution, emphasizing the need for a measured approach to monetary policy, they also highlighted the risks posed by ongoing trade tensions. Specifically, the officials pointed to tariffs as a factor that could negatively impact growth by increasing costs for businesses and consumers, potentially dampening economic momentum. Germany’s Ifo business?climate index ticked up to?86.9?in April from?86.7?in March, defying expectations for a drop to?85.2. While current sentiment improved, firms grew more pessimistic about the outlook amid uncertainty over the escalating U.S. tariff war. Immediate resistance can be seen at 1.1438(April 23rd high), an upside break can trigger rise towards 1.1520(23.6%fib).On the downside, immediate support is seen at 1.1322(38.2%fib), a break below could take the pair towards 1.1141(50%fib).
GBP/USD: The pound eased on Thursday after Bank of England Governor Andrew Bailey signalled a cautious stance amid tariff-driven growth concerns. Bailey emphasized the economic drag from global trade tensions, aligning with a more dovish outlook from other central banks. Markets are increasingly pricing in a rate cut in May, with attention turning to whether the BoE may remain open to another move in June.All eyes are on Friday’s UK retail sales data at 0600 GMT.Friday’s UK retail sales figures could prove pivotal for shaping expectations on upcoming rate moves. Analysts are anticipating a modest decline of 0.4% month-over-month for March 2025, following a 1.0% increase in February . Year-over-year, the forecast stands at 1.8%, down from 2.2% in February. Immediate resistance can be seen at1.3419 (23.6%fib), an upside break can trigger rise towards 1.3511(Higher BB).On the downside, immediate support is seen at 1.3262(38.2%fib), a break below could take the pair towards 1.3128(50%fib).
USD/CAD: The Canadian dollar clawed back some of the previous day's losses against its U.S. counterpart on Thursday as oil prices rose and investors weighed confusion over U.S. tariff negotiations.The U.S. dollar, opens new tab staged a broad retreat as investor gloom over the lack of progress toward defusing the U.S.-China trade war reasserted itself a day after an interlude of optimism.Canada's ruling Liberals remain in the lead ahead of the parliamentary election on Monday, but the gap with the trailing Conservatives is tightening, a rolling three-day poll showed.The price of oil, one of Canada's major exports, settled 0.8% higher at $62.79 a barrel, recouping some of the previous day's decline.Canadian payroll employment decreased by 49,000 in February, while average weekly earnings growth slowed to 5.4% year-over-year, data from Statistics Canada showed.Immediate resistance can be seen at 1.3978 (38.2%fib), an upside break can trigger rise towards 1.4070(50%fib).On the downside, immediate support is seen at 1.3848(23.9%fib), a break below could take the pair towards 1.3800 (Psychological level)
USD/JPY: the dollar dipped against the yen as traders reacted to the growing signs that the U.S. and Japan are nearing an outline for a trade deal. Japanese Finance Minister Katsunobu Kato said Thursday that he and U.S. Treasury Secretary Scott Bessent agreed to maintain a “constructive” dialogue on currency policy, though they did not discuss setting specific currency targets or frameworks to manage yen fluctuations. During their first in-person meeting in Washington, Kato briefed Bessent on Japan’s recent economic trends, including rising wages. The two sides also re-confirmed a long-held agreement among G7 advanced nations that exchange rates should be set by markets, and that excessive volatility in currency moves would hurt economic stability. Immediate resistance can be seen at 142.86 (38.2%fib) an upside break can trigger rise towards 143.00(Psychological level) On the downside, immediate support is seen at 141.33 (Daily low) a break below could take the pair towards 140.34(23.6%fib).
Equities Recap
?European stocks closed higher on Thursday as investors digested mixed corporate earnings reports and remained cautious amid shifting U.S. rhetoric regarding its trade dispute with China
UK's benchmark FTSE 100 closed down by 0. 05percent, Germany's Dax ended d up by 0.47 percent, France’s CAC finished the day down by 0.30 percent.
U.S. stocks closed higher on Thursday, marking a third consecutive day of gains, driven by strong performances from technology shares.
Dow Jones closed up by 1.23 %percent, S&P 500 closed up by 2.03% percent, Nasdaq settled up by 2.74% percent.
Commodities Recap
Gold prices gained on Thursday after falling more than 3% in the previous session, helped by a subdued dollar and bargain hunting, while market attention remained focused on any updates on U.S.-China trade relations.
Spot gold rose 1.4% to $3,333.90 an ounce, as of 1:46 p.m. EDT (1746 GMT). Bullion hit a record high of $3,500.05 on Tuesday due to concerns about the U.S. economy,
Oil prices edged up on Thursday as investors weighed a weaker U.S. dollar, potential OPEC+ output increase, mixed economic news, conflicting U.S. tariff signals and news from the Russia-Ukraine war.
Brent crude futures rose 43 cents, or 0.7%, to settle at $66.55 a barrel. U.S. West Texas Intermediate (WTI) crude rose 52 cents, or 0.8%, to settle at $62.79.