Posted at 28 April 2025 / Categories Market Roundups
Market Roundup
• Canada Wholesale Sales (MoM) (Mar) -0.3% , 0.3% previous
•French 12-Month BTF Auction 1.905%, 1.893% previous
•French 3-Month BTF Auction 2.128%,2.121% previous
• French 6-Month BTF Auction 2.015%,2.027% previous
•US Dallas Fed Mfg Business Index (Apr) -35.8,-16.3 previous
•US 3-Month Bill Auction 4.200%, 4.225% previous
•US 6-Month Bill Auction 4.065%, 4.050% previous
Looking Ahead Economic Data(GMT)
•No Data Ahead
Looking Ahead Events And Other Releases (GMT)
• 02:05 Australia RBA Assist Gov Kent Speaks
Currency Summaries
EUR/USD: The euro slipped on Monday as investors cautiously awaited updates on U.S. trade policy and prepared for a week of economic data that could provide the first signs of whether President Donald Trump's trade war is taking a toll. U.S. Treasury Secretary Scott Bessent stated on Sunday that he hasn’t discussed tariffs with Chinese officials and is unsure if President Trump spoke with Xi Jinping. China has denied Trump’s claims of ongoing tariff talks. However, on Friday, China exempted some U.S. goods from its 125% tariffs, signaling concerns over the trade war’s impact. Investors await inflation reports from the euro zone and the United States, scheduled for release later in the week. The monthly U.S. employment report is expected on Friday. Immediate resistance can be seen at 1.1548(23.6%fib), an upside break can trigger rise towards 1.1650(Higher BB).On the downside, immediate support is seen at 1.1312(38.2%fib), a break below could take the pair towards 1.1131(50%fib).
GBP/USD: The pound strengthened on Monday as investors awaited updates on U.S. trade policy and key economic data this week, including U.S. job openings on Tuesday, Personal Consumption Expenditures on Wednesday, and non-farm payrolls on Friday. On Friday, British Finance Minister Rachel Reeves met with U.S. Treasury Secretary Scott Bessent to discuss a potential trade deal, while highlighting the importance of improving ties with the EU. With a more trade-dependent economy than most G20 nations, the UK is negotiating a new economic deal with Washington to avoid reciprocal U.S. tariffs. Markets are anticipating a 96% likelihood that the Bank of England will lower interest rates by 25 basis points during its May 8 meeting. 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 1.3282(Daily low), a break below could take the pair towards 1.3066(50%fib).
USD/CAD: The Canadian dollar edged higher against the U.S. dollar on Monday, benefiting from broad-based declines in the greenback. The movement came as Canadians went to the polls in a general election, which has largely been shaped by concerns about U.S. trade tariffs. The Liberal Party, led by Prime Minister Mark Carney, who has emphasized his economic expertise, is projected to secure the most seats, according to recent polls. However, the race has tightened, and securing a majority government remains uncertain. Meanwhile, the price of oil, a key Canadian export, dropped by 1.5% to $62.05 per barrel, as global trade war concerns dampened demand expectations, while the U.S. dollar weakened against a basket of major currencies. The loonie was trading 0.2% higher at 1.3830 per U.S. dollar , after moving in a range of 1.3817 to 1.3892. Immediate resistance can be seen at 1.3880 (50%fib), an upside break can trigger rise towards 1.3963 (61.8%fib).On the downside, immediate support is seen at 1.3808(38.2%fib), a break below could take the pair towards 1.3800 (23.6%fib)
USD/JPY: The dollar edged lower on Monday as uncertainty surrounding U.S. trade policy persisted. Investors remained cautious with little clarity on the direction of tariffs. Meanwhile, the Bank of Japan (BOJ) is set to meet this week, with expectations that it will maintain its benchmark rate at 0.5%. Despite rising economic and trade uncertainties tied to U.S. tariffs, the BOJ is unlikely to adopt a dovish stance given growing inflationary pressures in Japan. Core inflation in Tokyo reached its highest level in two years in April, primarily due to rising food prices, suggesting that these trends could extend nationwide. Trump's fluctuating tariffs have disrupted financial markets, prompting global policymakers, including Japan, to push for concessions from Washington. 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 rose on Monday, lifted by optimism over easing U.S.-China trade tensions ahead of a busy week of earnings and economic data.
UK's benchmark FTSE 100 closed up by 0. 02 percent, Germany's Dax ended up by 0. 13 percent, France’s CAC finished the day up by 0. 50 percent.
The S&P 500 and Dow closed higher on Monday as investors awaited progress in tariff talks and a busy week of earnings and data..
Dow Jones closed up by 0. 28 % percent, S&P 500 closed up by 0. 06% percent, Nasdaq settled down by 0. 10% percent.
Commodities Recap
Gold prices rose on Monday as bargain-hunters stepped in, with markets focused on U.S.-China trade developments and upcoming economic data.
Spot gold was up 0.5% at $3,335.30 an ounce as of 2:06 p.m. ET (1806 GMT) after falling as much as 1.8% earlier in the session. U.S. gold futures settled 1.5% higher at $3,347.7.
Brent crude oil prices fell more than $1 a barrel on Monday morning as economic worries from the U.S.-China trade war were pressuring demand.
Brent crude futures settled at $65.86 a barrel, down $1.01, or 1.51%. U.S. West Texas Intermediate crude finished at $62.05 a barrel, down 97 cents or 1.545%.