Posted at 29 April 2025 / Categories Market Roundups
Market Roundup
• Italian Business Confidence (Apr): 85.7, 86.0 previous
• Italian Consumer Confidence (Apr): 92.7, 94.0 forecast, 95.0 previous
•EU M3 Money Supply (YoY) (Mar): 3.6%, 4.0% forecast, 4.0% previous
•EU Loans to Non-Financial Corporations (Mar): 2.3%, 2.2% previous
•EU Private Sector Loans (YoY) (Mar): 1.7%, 1.6% forecast, 1.5% previous
• Portuguese Business Confidence (Apr): 2.2, 2.4 previous
•Portuguese Consumer Confidence (Apr): -17.90, -16.00 previous
•Italian Industrial Sales (MoM) (Feb): -0.40%, 3.70% previous
•Italian Industrial Sales (YoY) (Feb): -1.50%, 1.80% previous
•Belgian GDP (QoQ) (Q1): 0.4%, 0.2% previous
•EU Business and Consumer Survey (Apr): 93.6, 94.5 forecast, 95.0 previous
•EU Business Climate (Apr): -0.67, -0.72 previous
•EU Consumer Confidence (Apr): -16.7, -16.7 forecast, -14.5 previous
•EU Consumer Inflation Expectation (Apr): 29.6, 24.5 previous
•EU Selling Price Expectations (Apr): 11.0, 11.3 previous
•EU Services Sentiment (Apr): 1.4, 2.2 forecast, 2.2 previous
•EU Industrial Sentiment (Apr): -11.2, -10.1 forecast, -10.7 previous
•EU M3 Money Supply (Mar): 16,845.5B, 16,858.7B previous
Looking Ahead Economic Data(GMT)
•12: 30 US Goods Trade Balance (Mar): -142.80B forecast, -147.85B previous
•12: 30 US Retail Inventories Ex Auto (Mar): 0.1% previous
•12: 30 US Wholesale Inventories (MoM) (Mar): 0.6% forecast, 0.3% previous
•12:55 US Redbook (YoY): 7.4% previous
•13:00 US House Price Index (YoY) (Feb): 4.8% previous
•13:00 US House Price Index (MoM) (Feb): 0.3% forecast, 0.2% previous
•13:00 US House Price Index (Feb): 436.5 previous
•13:00 US S&P/CS HPI Composite - 20 s.a. (MoM) (Feb): 0.5% previous
•13:00 US S&P/CS HPI Composite - 20 n.s.a. (MoM) (Feb): 0.1% previous
•13:00 US S&P/CS HPI Composite - 20 n.s.a. (YoY) (Feb): 4.6% forecast, 4.7% previous
•14:00 US CB Consumer Confidence (Apr): 87.7 forecast, 92.9 previous
•14:00 US JOLTS Job Openings (Mar): 7.490M forecast, 7.568M previous
•14:30 US Atlanta Fed GDPNow (Q1): -2.5% forecast, -2.5% previous
•14:30 USD Dallas Fed Services Revenues (Apr): 1.3 previous
•14:30 US Texas Services Sector Outlook (Apr): -11.3 previous
Looking Ahead Events And Other Releases (GMT)
•No Event Ahead
Currency Forecast
EUR/USD: The euro fell on Tuesday as investors awaited U.S. economic data to assess the Federal Reserve's policy direction. U.S. Treasury Secretary Scott Bessent mentioned that several key trading partners, including India, had made strong proposals to avoid U.S. tariffs. He also noted that China’s recent exemptions of certain U.S. goods from retaliatory tariffs indicated a willingness to ease trade tensions. Additionally, President Trump’s administration is working to reduce the impact of automotive tariffs by easing duties on foreign parts in U.S.-made cars. Investors are closely watching U.S. economic data this week, including the job openings report, 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 dipped on Tuesday as investors braced for the impact of the ongoing trade war and awaited key economic data. With escalating trade tensions, market participants remained cautious, concerned about how the conflict could influence global trade and economic growth. This week, investors will focus on U.S. data, including the job openings report, Personal Consumption Expenditures on Wednesday, and the non-farm payrolls report on Friday. On the monetary front, investor focus has turned to the Bank of England, with growing expectations that it will lower interest rates by 25 basis points to 4.25% at its upcoming May policy meeting .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 dollar weakened on Tuesday as investors awaited key U.S. economic data to assess the Federal Reserve's policy stance. With a busy week of U.S. reports ahead, including Friday's jobs report and first-quarter growth estimates, markets are focused on potential signs of the trade war's economic impact. Core PCE data, the Fed's preferred inflation measure, will also be closely watched. Meanwhile, the RBA is expected to reduce rates by 25 basis points in May due to growing global economic risks and new U.S. tariffs. At GMT 12: 02, The Australian dollar was last trading down 0. 41% to 0.6403.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
European stocks saw slight gains on Tuesday as investors analyzed corporate earnings, kept an eye on possible tariff changes, and awaited critical economic data.
At GMT (12:16) UK's benchmark FTSE 100 was last trading up at 0.36 percent, Germany's Dax was up by 0.80 percent, France’s CAC was down by 0. 16 percent.
Commodities Recap
Gold edged lower on Tuesday as reduced tensions in the U.S.-China trade conflict dampened its safe-haven appeal, with investors awaiting crucial U.S. economic data this week to gauge the Federal Reserve’s next policy move.
Spot gold was down 0.8% at $3,314.52 an ounce, as of 1125 GMT. U.S. gold futures fell 0.7% to $3,324.30.
Oil dipped on Tuesday as investors revised their demand growth outlook amid the ongoing trade war between the U.S. and China, the world’s two largest economies.
Brent crude futures fell by $1.22, or 1.85%, to $64.64 per barrel by 1119 GMT. U.S. West Texas Intermediate crude fell $1.1, or 1.8%, to $60.95 a barrel.