Posted at 06 May 2025 / Categories Market Roundups
Market Roundup
• French 12-Month BTF Auction 1.901%,1.905% previous
• French 3-Month BTF Auction 2.072%, 2.076% previous
• French 6-Month BTF Auction 1.982%,2.015% previous
• US S&P Global Composite PMI (Apr) 50.6 ,51.2,53.5 previous
• US S S&P Global Services PMI (Apr) 50.8 ,51.4 forecast, 54.4 previous
• US CB Employment Trends Index (Apr) 50.8 ,109.03 previous
• US ISM Non-Manufacturing Employment (Apr) 49.0, 46.2 previous
• US ISM Non-Manufacturing New Orders (Apr) 52.3, 50.4 previous
• US ISM Non-Manufacturing PMI (Apr) 51.6, 50.2 forecast, 50.8 previous
• US ISM Non-Manufacturing Prices (Apr) 65.1, 60.9 previous
Looking Ahead economic Data(GMT)
• 01:30 Australia Building Approvals (YoY) (Mar) 9.10% forecast, 9.10% previous
• 01:30 Australia Building Approvals (MoM) (Mar) -1.7% forecast, -0.3% previous
• 01:30 Australia Private House Approvals (Mar) 1.0% previous
•01:45 China Caixin Services PMI (Apr) 51.7 forecast, 51.9 previous
Looking Ahead Events And Other Releases(GMT)
• No Events Ahead
Currency Summaries
EUR/USD: The euro edged lower on Monday as investors awaited further details on the U.S.-China trade negotiations. Investor sentiment has improved in recent sessions amid hopes that both sides may be moving toward a de-escalation of tensions.On Friday, Beijing confirmed it is reviewing a U.S. proposal to restart trade talks, following Washington’s imposition of 145% tariffs a move met with 125% retaliatory duties from China. In parallel, the Trump administration indicated it is nearing trade agreements with several other partners, including India, South Korea, and Japan, in a bid to avoid implementing further tariffs in the coming weeks.In the euro zone, attention this week turns to key economic data. Retail sales and final PMI readings will offer fresh insight into consumer activity and business sentiment, while Germany the bloc’s largest economy will release figures on factory orders, industrial production, and trade performance. Immediate resistance can be seen at 1.1405 (April 28th high), an upside break can trigger rise towards 1.1530 (23.6%fib).On the downside, immediate support is seen at 1.1266 (38.2%fib), a break below could take the pair towards 1.1198 (April 11th low).
GBP/USD: The British pound eased on Monday head of the Bank of England's next policy decision due later this week. The BoE is widely expected to cut rates a further 25 basis points to 4.25%, but the statement accompanying its decision will be closely watched as some investors say it needs to accelerate its gradual approach to rate cuts as global growth takes a hit from Trump's tariffs. Markets currently are pricing at least two more 25 basis point BoE rate cuts this year in addition to Thursday's move, and see a good chance of a third.Market participants are also eyeing comments from Bank of England Governor Andrew Bailey and MPC member Huw Pill, both scheduled to speak on Friday. However, the main event will be Thursday’s BoE interest rate decision. Immediate resistance can be seen at 1.3343(April 24th high), an upside break can trigger rise towards 1.3449(23.6%fib).On the downside, immediate support is seen at 1.3253(38.2%fib), a break below could take the pair towards 1.3161 (April 15th low).
USD/CAD: The Canadian dollar held steady on Monday as markets awaited Prime Minister Mark Carney’s meeting with U.S. President Trump . Carney has said the focus of Tuesday's "comprehensive set of meetings" with Trump and senior officials would be on immediate trade pressures, such as tariffs, and the long-term future. On the data front, Canada's services economy contracted for a fifth straight month in April as uncertainty around trade policy and last week's Canadian general election weighed on activity, S&P Global's Canada services PMI data showed. The price of oil, one of Canada's major exports, settled nearly 2% lower at $57.13 a barrel after OPEC+ decided to expedite its output hikes. The loonie was trading at 1.3815 per U.S. dollar, or 72.39 U.S. cents, after trading in a range of 1.3787 to 1.3829.Immediate resistance can be seen at 1.3868 (May 2nd high), an upside break can trigger rise towards 1.3946 (38.2%fib).On the downside, immediate support is seen at 1.3774(23.6%fib), a break below could take the pair towards 1.3705(Lower BB)
USD/JPY: The dollar trimmed its losses briefly against the yen after the Institute for Supply Management report for April showed a larger-than-expected pickup in growth in the U.S. services sector. The U.S. services sector's growth picked up in April, while a measure of prices paid by businesses for materials and services raced to the highest level in more than two years, signaling a building up in inflation pressures due to tariffs.The Institute for Supply Management (ISM) survey on Monday showed services businesses were worried about the impact of President Donald Trump's tariffs on prices and deep federal spending cuts as his administration seeks to drastically shrink the government. The ISM said its nonmanufacturing purchasing managers index (PMI) increased to 51.6 last month from 50.8 in March. Immediate resistance can be seen at 145.43(50%fib)an upside break can trigger rise towards 146.00 (Psychological level) .On the downside, immediate support is seen at 143.31(38.2%fib)a break below could take the pair towards 142.00(Psychological level).
Equities Recap
European shares rose for a fifth straight session on Monday, supported by optimism over trade developments and ahead of the U.S. Federal Reserve’s policy meeting this week.
UK's benchmark FTSE 100 closed up by 1.17 percent, Germany's Dax ended up by 1.24 percent, France’s CAC finished the day down by 0.55 percent.
The S&P 500 slipped on Monday, ending its longest winning streak in two decades, as investors reacted to Trump’s new tariff plans and awaited the Fed’s policy decision.
Dow Jones closed down by 0.24 %percent, S&P 500 closed down by 0.63% percent, Nasdaq settled up by 0.74% percent.
Commodities Recap
Gold rose over 2% on Monday, boosted by a weaker dollar and rising safe-haven demand ahead of the U.S. Federal Reserve’s policy decision later this week.
Spot gold was up 2.3% at $3,315.09 an ounce at 1:52 p.m. ET (1752 GMT). U.S. gold futures settled 2.4% higher at $3,322.3.
Oil dropped over $1 on Monday, hitting a more than four-year low, as OPEC+’s move to accelerate output hikes fueled concerns about oversupply amid weak demand prospects.
rent crude futures settled at $60.23 a barrel, down $1.06, or 1.7%. U.S. West Texas Intermediate crude fell$1.16, or 2%, to end at $57.13 a barrel. Both benchmarks settled at their lowest since February 2021