Posted at 25 April 2025 / Categories Market Roundups
Market Roundup
• Canada Core Retail Sales (MoM) (Feb) 0.5%, -0.1% forecast ,0.1% previous
• Canada Manufacturing Sales (MoM) (Mar) -1.9%, 0.0% forecast , 0.2% previous
• Canada Retail Sales (MoM) (Feb) -0.4%, -0.4% forecast , -0.6% previous
• Canada Retail Sales (MoM) (Mar) 0.7%, -0.4% previous
• US Michigan 1-Year Inflation Expectations (Apr) 6.5%,6.7% forecast , 5.0% previous
• US Michigan 5-Year Inflation Expectations (Apr) 4.4%,4.4% forecast , 4.1% previous
• US Michigan Consumer Expectations (Apr) 47.3, 47.2 forecast , 52.6 previous
• US Michigan Consumer Sentiment (Apr) 52.2, 50.8 forecast , 57.0 previous
• US Michigan Current Conditions (Apr) 59.8, 56.5 forecast , 63.8 previous
• Canada Budget Balance (Feb) 7.57B, -5.13B previous
• Canada Budget Balance (YoY) (Feb) -19.27B, -26.85B previous
•U.S. Baker Hughes Oil Rig Count 483, 481 previous
•U.S. Baker Hughes Total Rig Count 587,585 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 eased on Friday as the dollar strengthened after China granted some tariff exemptions for U.S. imports. China is weighing exemptions for some U.S. goods from its steep 125% tariffs and has asked businesses to suggest eligible items, signaling a potential thaw in trade tensions. Earlier, President Trump hinted at ongoing direct talks with China. Meanwhile, the U.S. dollar strengthened, heading for its first weekly gain since March, which pressured euro. U.S. consumer sentiment fell for the fourth consecutive month in April, reflecting ongoing worries about the economic effects of tariffs. The University of Michigan's Consumer Sentiment Index rose slightly to 52.2 from a preliminary 50.8 but remained well below March's 57.0 reading. 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 slipped on Friday as strong UK retail sales were outweighed by a firmer dollar, supported by hopes of easing U.S.-China trade tensions. The dollar rose broadly, gaining against most developed currencies as global risk sentiment improved,fueled by optimism over easing U.S.-China trade tensions. Meanwhile, traders assessed recent comments from Bank of England officials. Governor Andrew Bailey warned of a potential growth shock from Trump's tariffs but ruled out a UK recession, while policymaker Megan Greene noted tariffs could dampen inflation. Their remarks have reinforced expectations of BoE rate cuts, with markets now pricing in up to three cuts by year-end. Immediate resistance can be seen at 1.3395(23.6%fib), an upside break can trigger rise towards 1.3521(Higher BB).On the downside, immediate support is seen at 1.3222(38.2%fib), a break below could take the pair towards 1.3066(50%fib).
USD/CAD: The Canadian dollar edged lower against its U.S. counterpart on Friday and was on track for a slight weekly decline, as investors weighed prospects of a cooling in U.S.-China trade tensions and awaited the outcome of Canada's general election. The price of oil, one of Canada's major exports, rose 0.1% to $62.88 a barrel but was headed for a weekly decline. Canadian retail sales fell by 0.4% in February from January to C$69.33 billion ($49.95 billion) on lower sales at motor vehicle and parts dealers but a preliminary estimate showed sales rebounding 0.7% in March. The loonie was trading 0.1% lower at 1.3860 per U.S. dollar, after moving in a range of 1.3847 to 1.3892. Immediate resistance can be seen at 1.3901 (50%fib), an upside break can trigger rise towards 1.3968 (April 16 high).On the downside, immediate support is seen at 1.3808(38.2%fib), a break below could take the pair towards 1.3800 (23.9%fib)
USD/JPY: The dollar strengthened against the yen on Friday buoyed by improving risk sentiment as traders digested signals of a possible shift in the White House’s tone toward China. The recent Chinese announcement about possible tariff exemptions on certain U.S. goods helped fuel optimism that the trade war may be easing reigniting global risk appetite. This comes even in the absence of formal diplomatic progress, as the U.S. maintains its tariff stance. On the data front, core inflation in Tokyo rose to a two-year high in April on soaring food prices, adding pressure on the BOJ ahead of its upcoming policy meeting, as it navigates between inflation risks and global trade tensions. Immediate resistance can be seen at 143.72 (38.2%fib) an upside break can trigger rise towards 144.54(April 11th high) .On the downside, immediate support is seen at 140.61 (23.6%fib) a break below could take the pair towards 140.00(Psychological level).
Equities Recap
European shares closed at a three-week high on Friday, marking their second straight weekly gain, as signs of easing U.S.-China trade tensions fueled risk-taking among investors.
UK's benchmark FTSE 100 closed up by 0. 09 percent, Germany's Dax ended up by 0. 81 percent, France’s CAC finished the day up by 0. 45 percent.
Wall Street closed higher on Friday, booking weekly gains as investors weighed corporate earnings and welcomed signs of easing U.S.-China trade tensions.
Dow Jones closed up by 0. 05 % percent, S&P 500 closed up by 0. 74% percent, Nasdaq settled up by 1. 26% percent.
Commodities Recap
Gold dropped 2% on Friday and was set for a weekly loss as a stronger dollar and easing U.S.-China trade tensions following news that Beijing exempted some U.S. goods from tariffs — reduced demand for the safe-haven metal.
Spot gold was down 1.7% at $3,292.99 an ounce as of 1:39 a.m. EDT (1739 GMT), after it fell as much as 2% earlier in the session. U.S. gold futures settled 1.5% lower at $3,298.40.
Oil prices saw a modest increase on Friday, but ended the week lower due to concerns over potential oversupply and the ongoing uncertainty surrounding U.S.-China tariff negotiations.
Brent crude futures settled 32 cents higher at $66.87 a barrel, taking losses to 1.6% over the week. U.S. West Texas Intermediate crude gained 23 cents to $63.02 a barrel, marking a weekly decline of 2.6%.