Posted at 30 April 2025 / Categories Market Roundups
Market Roundup
• Japan Industrial Production Forecast 1M Ahead (MoM) (Apr): 1.3% , 0.6% previous
• Japan Industrial Production Forecast 2M Ahead (MoM) (May): 3.9% 0.1% previous
•Japan Large Retailers' Sales (MoM) (Mar): -1.2% , 0.4% previous
•Japan Large Scale Retail Sales (YoY) (Mar): 3.0%, 2.0% previous
• Japan Retail Sales (YoY) (Mar): 3.1%, 3.6% forecast, 1.3% previous
• New Zealand ANZ Business Confidence (Apr): 49.3 , 57.5 previous
• New Zealand NBNZ Own Activity (Apr): 47.7%, 48.6% previous
• Australia CPI (YoY) (Q1): 2.4% actual, 2.3% forecast, 2.4% previous
• Australia CPI (QoQ) (Q1): 0.9% actual, 0.8% forecast, 0.2% previous
• Australia CPI Index Number (Q1): 140.70 , 139.40 previous
• Australia Housing Credit (Mar): 0.5% , 0.4% previous
• Australia Private Sector Credit (MoM) (Mar): 0.5%, 0.5% forecast, 0.5% previous
• Australia Trimmed Mean CPI (QoQ) (Q1): 0.7%, 0.6% forecast, 0.5% previous
• Australia Trimmed Mean CPI (YoY) (Q1): 2.9%, 2.9% forecast, 3.3% previous
• Australia Weighted Mean CPI (YoY) (Mar): 2.4%, 2.4% previous
• Australia Weighted Mean CPI (YoY) (Q1): 3.0%, 2.9% forecast, 3.5% previous
• Australia Weighted Mean CPI (QoQ) (Q1): 0.7% 0.7% forecast, 0.6% previous
• China Composite PMI (Apr): 50.2, 51.4 previous
• China Manufacturing PMI (Apr): 49.0, 49.7 forecast, 50.5 previous
• China Non-Manufacturing PMI (Apr): 50.4 ,50.6 forecast, 50.8 previous
• China Caixin Manufacturing PMI (Apr): 50.4, 49.7 forecast, 51.2 previous
Looking Ahead Economic Data(GMT)
• 07:55 Germany Unemployment Change (Apr): 16K forecast, 26K previous
• 07:55 Germany Unemployment Rate (Apr): 6.3% forecast, 6.3% previous
• 07:55 Germany Unemployment (Apr): 2.922M previous
• 07:55 Germany Unemployment n.s.a. (Apr): 2.967M previous
• 08:00 Italy GDP (YoY) (Q1): 0.6% previous
• 08:00 Italy GDP (QoQ) (Q1): 0.2% forecast, 0.1% previous
• 08:00 Switzerland ZEW Expectations (Apr): -10.7 previous
• 08:00 Germany CPI (MoM) (Apr): 0.2% previous
• 08:00 Germany CPI (YoY) (Apr): 2.2% previous
• 08:00 Germany CPI (MoM) (Apr): 0.3% previous
•09:00 Italy CPI (MoM) (Apr): 0.2% forecast, 0.3% previous
•09:00 Italy CPI (YoY) (Apr): 2.0% forecast, 1.9% previous
•09:00 Italy HICP (MoM) (Apr): 1.6% previous
•09:00 Italy HICP (YoY) (Apr): 2.3% forecast, 2.1% previous
•09:00 Greece PPI (YoY) (Mar): 0.6% previous
•09:00 Greece Retail Sales (YoY) (Feb): 1.9% previous
•09:00 Greece Unemployment Rate (Mar): 8.6% previous
•09:00 Eurozone GDP (QoQ) (Q1): 0.2% forecast, 0.2% previous
•09:00 Eurozone GDP (YoY) (Q1): 1.0% forecast, 1.2% previous
Looking Ahead Events And Other Releases (GMT)
•No Event Ahead
Currency Forecast
EUR/USD: The euro slipped slightly on Wednesday as traders turned cautious ahead of major U.S. economic data releases. Attention is focused on the advance GDP estimate for Q1, expected to show a modest 0.3% annualized growth rate potentially the weakest since Q2 2022. Markets are also eyeing the upcoming U.S. Personal Consumption Expenditures (PCE) report, the Federal Reserve’s preferred inflation measure, which could shape expectations for future interest rate moves. The euro was slightly weaker at $1.1372 after dropping 0.33% in the previous session. Still, the common currency has benefited from investors fleeing U.S. assets and is up over 5% in April, on course for best monthly performance since November 2022.Immediate resistance can be seen at 1.1425 (April 28th high), an upside break can trigger rise towards 1.1546 (23.6%fib).On the downside, immediate support is seen at 1.1320 (38.2%fib), a break below could take the pair towards 1.1148 (50%fib).
GBP/USD: The British pound traded flat on Wednesday as market participants remained cautious ahead of key U.S. economic data releases . Investors remain worried about the tariff impact after data on Tuesday showed a gradually declining U.S. economy. Job openings dropped sharply in March, but a drop in layoffs suggested the labour market remained on solid footing. The Conference Board's U.S. consumer confidence index though sank to a nearly five-year low in April. The spotlight will now be on the advance GDP estimate for the January-March quarter due on Wednesday .Also in focus will be the report on U.S. personal consumption expenditure, the Federal Reserve's favourite gauge of inflation, scheduled for release later in the day. Immediate resistance can be seen at 1.3461(23.6%fib), an upside break can trigger rise towards 1.3572(Higher BB).On the downside, immediate support is seen at 1.3374 (Daily low), a break below could take the pair towards 1.3256 (38.2%fib).
AUD/USD: The Australian dollar strengthened on Wednesday as investors digested Australian CPI data. Data from the Australian Bureau of Statistics showed CPI rose 0.9% in Q1, slightly above the 0.8% forecast, driven by a 16.3% surge in electricity prices following the end of some government rebates. Australia’s trimmed mean core inflation rose 0.7% in Q1, slightly above the 0.6% forecast, but the annual rate slowed to a three-year low of 2.9%—back within the RBA’s 2–3% target range for the first time since late 2021.The Reserve Bank of Australia is expected to cut its cash rate by 25 basis points to 3.85% in May, with markets anticipating further easing to 2.85% by year-end. At GMT 05:55, The Australian dollar was last trading up 0.32% to 0.6406.Immediate resistance can be seen at 0.6454 ( 23. 6%fib), an upside break can trigger rise towards 0.6568 (Higher BB).On the downside, immediate support is seen at 0.6378 (Daily low) , a break below could take the pair towards 0.6346 (38.2%fib).
USD/JPY: The dollar edged higher but gains were limited as market focused on Bank of Japan's policy decision. The Bank of Japan is expected to maintain interest rates on Thursday, citing growing risks to the fragile economy, with U.S. tariffs continuing to affect confidence. Trump’s fluctuating tariffs have shaken financial markets, prompting policymakers, including those from Japan, to seek concessions from Washington. At its two-day meeting ending Thursday, the BOJ is widely expected to keep short-term interest rates steady at 0.5%.At GMT 06: 40, the US dollar was last trading up 0. 26% at 142. 68 Japanese yen. Immediate resistance can be seen at 143.11 (50%fib) an upside break can trigger rise towards 144.00 (Psychological level) .On the downside, immediate support is seen at 141. 76 (38.2%fib) a break below could take the pair towards 140. 13 (23.6%fib).
Equities Recap
Asian shares were mixed on Wednesday as investors looked ahead to key U.S. economic and earnings reports.
Japan's Nikkei 225 was up 0. 57% , South Korea's KOSPI was down 0. 33 %,Hang Seng was down by 0. 33 %
Commodities Recap
Gold prices fell on Wednesday as investors remained cautious, awaiting key U.S. data later in the week to gauge the Federal Reserve's outlook on interest rates.
Spot gold fell 0.3% to $3,306.18 an ounce as of 0624 GMT. The metal was on track to log its fourth consecutive monthly gain, rising nearly 6% so far in April.
Oil continued to decline on Wednesday, on track for their biggest monthly drop in over three years. The global trade war has dampened the outlook for fuel demand, while concerns about increasing supply further pressured prices.
Brent crude futures fell by 75 cents, or 1.17%, to $63.50 per barrel by 0641 GMT. U.S. West Texas Intermediate crude futures dropped 79 cents, or 1.31%, to $59.63 a barrel.