Posted at 13 May 2025 / Categories Market Roundups
Market Roundup
•US Core CPI (YoY) (Apr) 2.8%,2.8% forecast, 2.8% previous
•US Core CPI (MoM) (Apr) 0.2%, 0.3% forecast,0.1% previous
•US Core CPI Index (Apr) 326.43,325.66 previous
•US CPI (MoM) (Apr) 0.2%,0.3% forecast,-0.1% previous
•US CPI (YoY) (Apr) 2.3%,2.4% forecast,2.4% previous
•US CPI Index, n.s.a. (Apr) 320.80, 320.86 forecast, 319.80 previous
•US CPI Index, s.a (Apr) 320.32,319.62 previous
Looking Ahead Economic Data(GMT)
•22:45 New Zealand Electronic Card Retail Sales (MoM) (Apr) -0.8% previous
•22:45 New Zealand Electronic Card Retail Sales (YoY) (Apr) -1.6% previous
•22:45 New Zealand External Migration & Visitors (Mar) 1.10% previous
•22:45 New Zealand Permanent/Long-Term Migration (Mar) 5,430 previous
•22:45 New Zealand Visitor Arrivals (MoM) -3.7% previous
•23:50 Japan PPI (YoY) (Apr) 4.0% forecast, 4.2% previous
•23:50 Japan PPI (MoM) (Apr) 0.2% forecast, 0.4% previous
•01:30 Australia Wage Price Index (YoY) (Q1) 3.2% forecast, 3.2% previous
•01:30 Australia Wage Price Index (QoQ) (Q1) 0.8% forecast, 0.7% previous
Looking Ahead Events And Other Releases(GMT)
•No Events Ahead
Currency Summaries
EUR/USD: The euro rose higher on Tuesday after data showed U.S. consumer inflation picked up less than expected in April when President Donald Trump unveiled a raft of tariffs that have wreaked havoc on global markets. U.S. consumer prices rebounded moderately in April as declining food costs partially offset rising rents, leading to the smallest annual increase in four years, but the inflation outlook remains unclear against the backdrop of tariffs. The Consumer Price Index increased 0.2% last month after dipping 0.1% in March, which was the first decline since May 2020, the Labor Department's Bureau of Labor Statistics said. The dollar pulled back from sharp gains in the prior session on the inflation data. It was last down 0.79% against a basket of currencies. The euro rose up 0.94% at $1.1191. Immediate resistance can be seen at 1.1237(38.2%fib), an upside break can trigger rise towards 1.1392(May 6th high).On the downside, immediate support is seen at 1.1038(50%fib), a break below could take the pair towards 1.0850 (61.8%fib).
GBP/USD: The British pound strengthened on Tuesday as the dollar eased after data showed U.S. consumer inflation picked up less than expected in April. The Bureau of Labor Statistics said its US consumer price index rose 0.2% in April, bringing the annual increase down to 2.3% from 2.4%. Traders are now pricing in 56 basis points of cuts this year, down from forecasts for over 100 basis points in April, when fears about the impact of Trump's tariffs were at their worst. Separate data showed, Britain’s job market softened last month, with a tax hike and U.S. trade tariffs weighing on employers a sign that may ease Bank of England's inflation concerns. UK average weekly earnings (excluding bonuses) rose 5.6% from January to March year-on-year, marking the slowest growth since the three months to November, according to the Office for National Statistics .Immediate resistance can be seen at 1.3382(23.6%fib), an upside break can trigger rise towards 1.3455(Higher BB).On the downside, immediate support is seen at 1.3177(38.2%fib), a break below could take the pair towards 1.3018(50%fib).
USD/CAD: The Canadian dollar recovered from a one-month low against its U.S. counterpart on Tuesday as the greenback weakened broadly and investors applauded some of Canadian Prime Minister Mark Carney's cabinet choices.Carney unveiled a new cabinet that he said would help define a new relationship with Washington. Former Goldman Sachs banker Tim Hodgson was named natural resources minister.Carney, whose Liberal Party won last month's general election, has said that Canada must spend billions to start shifting the economy's focus away from the United States as well as end barriers to internal trade and cut public spending.Canada is a major producer of natural resources, including oil. The loonie was trading 0.2% higher at 1.3950 per U.S. dollar, after touching its weakest intraday level since April 10 at 1.4016. Immediate resistance can be seen at 1.4005 (50%fib), an upside break can trigger rise towards 1.4173 (61.8%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 declined against the yen on Tuesday as dollar lost after data showed U.S. consumer inflation picked up less than expected in April. U.S. consumer prices rose moderately in April, with lower food costs offsetting higher rents, resulting in the smallest annual increase in four years. However, the inflation outlook remains uncertain due to ongoing tariff pressures.The shift in U.S.-China trade relations has led traders to reduce their expectations for Federal Reserve rate cuts, as they believe policymakers may have more leeway to lower rates if the risks to inflation abate.Traders are now pricing in 56 basis points of cuts this year, down from forecasts for over 100 basis points in April, when fears about the impact of Trump's tariffs were at their worst. The greenback dipped 0.07% to 147.34 yen. Immediate resistance can be seen at 148.55 (38.2%fib)an upside break can trigger rise towards 150.00(Psychological level) .On the downside, immediate support is seen at 146.43(50%fib)a break below could take the pair towards 146.43(50%fib)
Equities Recap
European stocks ended slightly higher on Tuesday, as early gains driven by softer U.S. inflation data and a temporary U.S.-China trade truce began to wane.
UK's benchmark FTSE 100 closed down by 0.02 percent, Germany's Dax ended up by 0.31 percent, France’s CAC finished the day up by 0.30 percent.
The S&P 500 and Nasdaq rose for a second day on Tuesday, supported by cooling inflation figures and sustained optimism after the U.S.-China trade truce was announced on Monday.
Dow Jones closed down by 0.64 %percent, S&P 500 closed up by 0.72% percent, Nasdaq settled up by 1.61% percent.
Commodities Recap
Gold prices rebounded on Tuesday, driven by bargain-hunting following a sharp decline the previous day, along with support from softer-than-expected U.S. inflation data.
Spot gold rose 0.4% to $3,246.95 an ounce as of 1357 ET (17:57 GMT), after falling as low as $3,207.30 on Monday.U.S. gold futures settled 0.6% higher at $3,247.8.
Crude oil futures jumped by over $1.60 a barrel on Tuesday, driven by the temporary reduction in U.S.-China tariffs and a stronger-than-expected inflation report.
Brent crude futures settled at $66.63 a barrel, up $1.67, or 2.57%. U.S. West Texas Intermediate (WTI) crude finished at $63.67, up $1.72 or 2.78%.