Posted at 08 May 2025 / Categories Market Roundups
Market Roundup
• US Continuing Jobless Claims 1,879K, 1,890K forecast, 1,908K previous
• US Initial Jobless Claims 228K, 231K forecast, 241K previous
• US Jobless Claims 4-Week Avg. 227.00K, 226.00K previous
• US Nonfarm Productivity (QoQ) (Q1) -0.8%,-0.4% forecast, 1.7% previous
• US Unit Labor Costs (QoQ) (Q1) 5.7%, 5.3% forecast, 2.0% previous
• US Natural Gas Storage 104B, 103B forecast,107B previous
• US 4-Week Bill Auction 4.225%, 4.240% previous
• US 8-Week Bill Auction 4.225%, 4.220% previous
• US Atlanta Fed GDPNow (Q2) 2.3%, 2.2% forecast,2.2% previous
• US 30-Year Bond Auction 4.819%, 4.813% previous
Looking Ahead Economic Data(GMT)
•23:30 Japan Household Spending (YoY) (Mar) 0.2% forecast, -0.5% previous
• 23:30 Japan Household Spending (MoM) (Mar) -0.5% forecast, 3.5% previous
•23:30 Japan Overall wage income of employees (Mar) 2.4% forecast, 3.1% previous
•23:30 Japan Overtime Pay (YoY) (Mar) 2.20% previous
• 23:30 Japan Foreign Reserves (USD) (Apr) 1,272.5B previous
•03:00 China Exports (Apr) 13.50M previous
•03:00 China Imports (Apr) -3.50M previous
•03:00 China Trade Balance (Apr) 701.00B forecast,736.72B previous
•03:00 China Exports (YoY) (Apr) 1.9% forecast,12.4% previous
•03:00 China Imports (YoY) (Apr) -5.9% forecast,-4.3% previous
•03:00 China Trade Balance (USD) (Apr) 97.00B forecast,-102.64B previous
•05:00 Japan Coincident Indicator (MoM) (Mar) 0.9% previous
•05:00 Japan Leading Index (MoM) (Mar) -0.3% previous
•05:00 Japan Leading Index (Mar) 107.4 forecast,107.9 previous
Looking Ahead Events And Other Releases(GMT)
• No Events Ahead
Currency Summaries
EUR/USD: The euro slipped against the dollar on Thursday as market nerves calmed by news of a trade deal between the United States and Britain.. The deal, unveiled by Trump and British Prime Minister Keir Starmer, leaves in place a 10% tariff on goods imported from the UK but lowers prohibitive U.S. duties on UK car exports.Britain agreed to lower its tariffs to 1.8% from 5.1% and provide greater access to U.S. goods.Investors were encouraged as they waited for planned talks between U.S. and Chinese officials in Switzerland over theweekend, which are seen asa firststep in dialing down the damaging trade war between the world's two biggest economies. The dollar index , which measures the greenback against a basket of currencies including the yen and the euro, rose 0.41% to 100.31, hitting its highest since April 10. The euro was down 0.71% at $1.122175. Immediate resistance can be seen at 1.1334 (Daily high), an upside break can trigger rise towards 1.1488 (23.6%fib).On the downside, immediate support is seen at 1.1192(38.2%fib), a break below could take the pair towards 1.1100 (Psychological level).
GBP/USD: The British pound rose on Thursday after the Bank of England (BoE) implemented a widely expected interest rate cut. The BoE reduced its main rate by 25 basis points to 4.25%, despite an unexpected three-way split among policymakers, as U.S. President Trump's tariffs continue to pressure global economic growth. The BoE's Monetary Policy Committee voted 5-4 in favor of the rate cut, with Swati Dhingra and Alan Taylor supporting a larger 50-point cut, while Huw Pill and Catherine Mann advocated for keeping rates steady. This decision marked the BoE's first move since Trump's announcement of broad tariffs on April 2, which briefly unsettled markets and led the IMF to lower growth forecasts for major economies, including the UK. Immediate resistance can be seen at 1.3405(23.6%fib), an upside break can trigger rise towards 1.3468(Higher BB).On the downside, immediate support is seen at 1.3233(38.2%fib), a break below could take the pair towards 1.3157 (Lower BB).
USD/CAD: The Canadian dollar dropped to its lowest level in three weeks against the U.S. dollar on Thursday, as a steady Federal Reserve stance supported the greenback and fresh concerns emerged over the impact of prolonged trade tensions. Fed Chair Jerome Powell said on Wednesday that the central bank would remain on hold until there is greater clarity on the economic effects of the Trump administration’s trade policies. Meanwhile, the Bank of Canada warned that a drawn-out trade conflict could pose risks to the country’s financial system. Investors are now awaiting Canadian employment figures for April, due Friday, with consensus estimates pointing to a modest increase of 2,500 jobs and a slight uptick in the unemployment rate to 6.8% from 6.7%. The loonie was trading 0.7% lower at 1.3930 per U.S. dollar, or 71.79 U.S. cents, after touching its weakest intraday level since April 16 at 1.3930. Immediate resistance can be seen at 1.3844 (Daily high), an upside break can trigger rise towards 1.3894 (38.2%fib).On the downside, immediate support is seen at 1.3780(23.6%fib), a break below could take the pair towards 1.3740(Lower BB).
USD/JPY: The U.S. dollar strengthened against the Japanese yen on Thursday as market sentiment improved following the announcement of a preliminary trade agreement between the United States and the United Kingdom. This deal marks the first of many tariff-reducing agreements that President Trump aims to secure, after implementing aggressive import taxes to address the $1.2 trillion U.S. goods trade deficit. Trump praised the agreement during an Oval Office call with U.K. Prime Minister Keir Starmer, while Treasury Secretary Scott Bessent and chief trade negotiator Jamieson Greer prepared to travel to Switzerland for upcoming talks with Chinese officials. The dollar rose to a four-week high of 146.175 against the yen following the announcement of the trade deal. It was last up 1.55% at 146 yen. Immediate resistance can be seen at 146.76(Higher BB)an upside break can trigger rise towards 147.50 (50%fib) .On the downside, immediate support is seen at 145.16(38.2%fib)a break below could take the pair towards 143.53(Daily low).
Equities Recap
European shares closed higher on Thursday, supported by news of a U.S.-UK trade agreement to reduce tariffs marking the first such deal since President Trump launched a global trade dispute with broad-based tariffs.
UK's benchmark FTSE 100 closed down by 0.32 percent, Germany's Dax ended up by 1.02 percent, France’s CAC finished the day up by 0.89 percent.
U.S. stocks advanced on Thursday, buoyed by optimism over a newly announced trade deal between the United States and Britain.
Dow Jones closed up by 0.62 %percent, S&P 500 closed up by 0.58% percent, Nasdaq settled up by 1.07% percent.
Commodities Recap
Gold prices fell further on Wednesday as a stronger U.S. dollar and easing trade tensions between China and the U.S. reduced safe-haven demand.
Spot gold was down 1.8% to $3,368.42 an ounce by 03:32 ET (19:32 GMT), while U.S. gold futures settled 0.9% lower at $3,391.9.
Oil prices climbed roughly 3% on Thursday, lifted by optimism surrounding upcoming U.S.-China trade talks, which raised hopes for improved demand from the world’s top two oil consumers.
Brent crude futures settled up $1.72, or 2.8%, at $62.84 a barrel. U.S. West Texas Intermediate crude rose $1.84, or 3.2%, to $59.91.