Posted at 29 April 2025 / Categories Market Roundups
Market Roundup
• First US trade deals may be with India, Treasury's Bessent says
Trump to reduce impact of auto tariffs, commerce secretary says
•Japan holiday thins currency trade
Looking Ahead Economic Data(GMT)
•08:00 Italian Business Confidence (Apr) 86.0 previous
• 08:00 Italian Consumer Confidence (Apr) 94.0 forecast,95.0 previous
•08:00 Italian Private Sector Loans (YoY) (Mar) 1.6% forecast, 1.5% previous
• 08: 30 Portuguese Business Confidence (Apr) 2.4 previous
• 08: 30 Portuguese Consumer Confidence (Apr) -16.00 previous
• 09:00 Italian Industrial Sales (MoM) (Feb) 3.80% previous
• 09:00 Italian Industrial Sales (YoY) (Feb) 1.70% previous
• 09:00 Belgian GDP (QoQ) (Q1) 0.2% previous
• 09:00 EU M3 Money Supply (Mar) 16,858.7B previous
• 09:00 EU M3 Money Supply (YoY) (Mar) 4.0% forecast, 4.0% previous
• 09:00 EU Loans to Non Financial Corporations (Mar) 2.2% previous
•10:00 EU Business and Consumer Survey (Apr) 94.5 forecast, 95.2 previous
•10:00 EU Business Climate (Apr) -0.73 previous
•10:00 EU Consumer Confidence (Apr) -16.7 forecast, -14.5 previous
•10:00 EU Consumer Inflation Expectation (Apr) 24.4 previous
•10:00 EU Selling Price Expectations (Apr) 11.4 previous
•10:00 EU Services Sentiment (Apr) 2.2 forecast,2.4 previous
•10:00 EU Industrial Sentiment (Apr) -10.1forecast,-10.6 previous
•10:30 Belgium CPI (YoY) (Apr) 2.91% previous
•10:30 Belgium CPI (MoM) (Apr) -0.07% previous
Looking Ahead Events And Other Releases (GMT)
•No Event Ahead
Currency Forecast
EUR/USD: The euro slipped on Tuesday as investors awaited U.S. economic data to assess the Federal Reserve's policy path. U.S. Treasury Secretary Scott Bessent said on Monday several top trading partners had made very good proposals to avoid U.S. tariffs, with India likely to be among the first to finalize a deal.China's recent moves to exempt certain U.S. goods from its retaliatory tariffs showed a willingness to de-escalate trade tensions, Bessent added.U.S. President Donald Trump's administration will also move to reduce the impact of his automotive tariffs by alleviating some duties imposed on foreign parts in domestically-manufactured cars. Investors will monitor economic data this week, including the U.S. job openings report later in the day, Personal Consumption Expenditures on Wednesday, and the non-farm payrolls report on Friday.. 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 softened on Tuesday as investors prepared for the potential impact of the ongoing trade war and awaited crucial economic data. With trade tensions mounting, market participants were cautious, anticipating how the conflict might affect global trade dynamics and economic growth . Investors will monitor economic data this week, including the U.S. job openings report later in the day, Personal Consumption Expenditures on Wednesday, and the non-farm payrolls report on Friday . Besides U.S. data, inflation readings are due in Europe, beginning with Spain and Belgium later on Tuesday, as well as major corporate earnings.Immediate resistance can be seen at 1.3475(23.6%fib), an upside break can trigger rise towards 1.3561(Higher BB).On the downside, immediate support is seen at 1.3272(38.2%fib), a break below could take the pair towards 1.3144 (50%fib).
AUD/USD: The Australian eased on Tuesday as investors awaited key U.S. economic data to gauge the Federal Reserve’s policy direction. Investors are bracing for a busy week of U.S. reports, which could offer early clues on the economic impact of the trade war. Markets are closely watching Friday’s jobs report, with first-quarter growth estimates and core PCE data the Fed’s preferred inflation measure set to be released beforehand.Meanwhile, The RBA is expected to cut rates by 25 basis points in May amid rising global economic risks and new US tariffs. At GMT 07: 32, The Australian dollar was last trading down 0. 16% to 0.6413.Immediate resistance can be seen at 0.6448 ( 23. 6%fib), an upside break can trigger rise towards 0.6568 (Higher BB).On the downside, immediate support is seen at 0.6366 (April 28th low) , a break below could take the pair towards 0.6317 (38.2%fib).
USD/JPY: The dollar steadied on Tuesday, but gains were capped due to thin trading conditions caused by a Japanese holiday. Investors were still unsure if the Sino-U.S. trade war was easing, as Treasury Secretary Scott Bessent indicated it was up to China to begin negotiations. Trump imposed 24% tariffs on Japanese exports and targeted ASEAN nations, though most levies are paused until July for negotiations. A 10% universal tariff and a 25% duty on cars remain. Japan’s trade negotiator Ryosei Akazawa is due in Washington for a second round of negotiations this week.At GMT 07: 43, the US dollar was last trading down 0. 18% at 142.40, Japanese yen. Immediate resistance can be seen at 142.78 (Daily high) an upside break can trigger rise towards 144. 0 0 (Psychological level) .On the downside, immediate support is seen at 140. 72 (23.6%fib) a break below could take the pair towards 139. 43 (Lower BB).
Equities Recap
Asian stocks edged higher on Tuesday as U.S. President Donald Trump's administration responded to pressure from automakers and said it will soften some tariffs, ahead of a big week for economic data and earnings..
Japan's Nikkei 225 was up 0. 38% , South Korea's KOSPI was up 0. 65 %,Hang Seng was up by 0. 25%
Commodities Recap
Gold prices fell on Tuesday as easing trade tensions reduced its safe-haven appeal, with investors awaiting U.S. economic data for clues on Federal Reserve policy.
Spot gold was down 0.8% at $3,314.99 an ounce, as of 0425 GMT. U.S. gold futures lost 0.7% to $3,325.10.
Crude oil prices declined on Tuesday as investors revised down their demand growth forecasts, citing the ongoing trade war between the U.S. and China, the world’s two largest economies.
Brent crude futures fell by 51 cents, or 0.8%, to $65.35 per barrel by 0635 GMT. U.S. West Texas Intermediate crude futures fell 50 cents, or 0.8%, to $61.55 a barrel. Both benchmarks fell more than $1 on Monday.