Posted at 30 April 2025 / Categories Market Roundups
Market Roundup
• US Goods Trade Balance (Mar) -161.99B, -142.80B forecast, -147.85B previous
• US Retail Inventories Ex Auto (Mar) 0.4%, 0.1% previous
• US Wholesale Inventories (MoM) (Mar) 0.5%, 0.6% forecast, 0.3% previous
• US Redbook (YoY) 6.1%, 7.4% previous
• US House Price Index (YoY) (Feb) 3.9%, 5.0% previous
• US House Price Index (MoM) (Feb) 0.1%, 0.3% forecast, 0.3% previous
• US House Price Index (Feb) 437.3, 436.7 previous
• US S&P/CS HPI Composite - 20 s.a. (MoM) (Feb) 0.4%, 0.4% previous
• US S&P/CS HPI Composite - 20 n.s.a. (MoM) (Feb) 0.7%, 0.1% previous
• US S&P/CS HPI Composite - 20 n.s.a. (YoY) (Feb) 4.5%, 4.6% forecast, 4.7% previous
• US CB Consumer Confidence (Apr) 86.0, 87.7 forecast, 93.9 previous
• US JOLTS Job Openings (Mar) 7.192M, 7.490M forecast, 7.480M previous
• US Atlanta Fed GDPNow (Q1) -2.7%, -2.5% forecast, -2.5% previous
• US Dallas Fed Services Revenues (Apr) 3.8, 1.3 previous
• US Texas Services Sector Outlook (Apr) -19.4, -11.3 previous
Looking Ahead Economic Data(GMT)
•No Data Ahead
Looking Ahead Events And Other Releases (GMT)
•No Event Ahead
Currency Summaries
EUR/USD: The euro fell on Tuesday as dollar was lifted by the Trump administration's plan to ease the impact of auto duties on local car manufacturers as well as the prospect of more tariff deals with some trading partners. On Tuesday, President Trump took steps to ease the impact of his auto tariffs by signing an executive order that combines credits with relief from other levies on parts and materials, following pressure from automakers. Meanwhile, the U.S. dollar gained strength after comments from Treasury Secretary Scott Bessent, who highlighted substantial progress in tariff negotiations. He mentioned upcoming trade deals with India and South Korea and revealed plans to speak with at least 17 trade partners in the coming weeks. Investors are closely watching U.S. economic data this week, including 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).
USD/CAD: The Canadian dollar strengthened slightly against the U.S. dollar on Tuesday as investors remained calm following a less decisive outcome in the Canadian general election than anticipated. Additionally, the currency appeared unaffected by a drop in oil prices. The Liberal Party retained power in Canada’s parliamentary elections, but it was expected to fall short of the outright majority that polls had indicated, which Prime Minister Mark Carney had hoped for to strengthen negotiations with the U.S. on trade tariffs. Meanwhile, U.S. President Donald Trump is set to ease the impact of his auto tariffs on Tuesday through an executive order, offering a mix of credits and relief from other levies on parts and materials, after automakers lobbied for changes. The loonie was trading 0.2% higher at 1.3823 per U.S. dollar, after trading in a range of 1.3809 to 1.3871. Immediate resistance can be seen at 1.3914 (38.2%fib), an upside break can trigger rise towards 1.4000 (Psychological level).On the downside, immediate support is seen at 1.3788(23.6%fib), a break below could take the pair towards 1.3655 (Lower BB)
USD/JPY: The dollar edged higher 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. The dollar index , which measures the greenback against a basket of currencies including the yen and the euro, rose 0.2% to 99.23, with the euro down 0.35% at $1.1381.Against the Japanese yen , the dollar strengthened 0.2% to 142.32. 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 shares extended gains for a sixth consecutive session on Tuesday, supported by strong earnings from HSBC and Deutsche Bank, particularly in the financial sector. However, the focus remained on how companies were evaluating the impact of U.S. tariffs.
UK's benchmark FTSE 100 closed up by 0.55 percent, Germany's Dax ended up by 0.69 percent, France’s CAC finished the day down by 0.24 percent.
Wall Street stocks gained on Tuesday, while crude and gold prices fell as investors balanced corporate earnings, signs of progress in U.S. President Donald Trump's tariff negotiations, and rising concerns about a potential global recession.
Dow Jones closed up by 0.75 %percent, S&P 500 closed up by 0.58% percent, Nasdaq settled up by 0.55% percent.
Commodities Recap
Gold fell nearly 1% on Tuesday as signs of easing U.S.-China trade tensions reduced safe-haven demand. Investors also prepared for key economic data later in the week to assess the Federal Reserve's policy outlook..
Spot gold was down 0.8% at $3,315.84 an ounce as of 2:22? pm ET (1822 GMT). U.S. gold futures settled 0.4% lower at $3,333.6.
Oil prices dropped nearly 2% to a two-week low on Tuesday as investors anticipated an OPEC+ output increase and expressed concerns that U.S. President Donald Trump's tariffs could impact the global economy, potentially slowing fuel demand.
Brent crude futures fell by $1.61, or 2.4%, to settle at $64.25 per barrel. U.S. West Texas Intermediate (WTI) crude dropped by $1.63, or 2.6%, to settle at $60.42.