Posted at 14 May 2025 / Categories Market Roundups
Market Roundup
•New Zealand Electronic Card Retail Sales (YoY) (Apr) -0.3%, -1.6% previous
•New Zealand Electronic Card Retail Sales (MoM) (Apr) 0.0%,-0.8% previous
•New Zealand External Migration & Visitors (Mar) -8.40%, 1.10% previous
•Japan PPI (MoM) (Apr) 0.2%,0.2%forecast,0.4% previous
•Japan PPI (YoY) (Apr) 4.0%,4.0% forecast,4.3% previous
• Australia Wage Price Index (YoY) (Q1) 3.4%, 3.2%forecast, 3.2% previous
• Australia Wage Price Index (QoQ) (Q1) 0.9%, 0.8% forecast, 0.7% previous
Looking Ahead economic Data(GMT)
• 09:00 UK 10-Year Treasury Gilt Auction 4.638% previous
Looking Ahead Events And Other Releases(GMT)
• 08:15 German Buba President Nagel Speaks
• 09:15 US Fed Waller Speaks
Currency Forecast
EUR/USD: The euro edged higher on Wednesday as the U.S. dollar weakened following cooler-than-expected U.S. consumer inflation data. The Labor Department said the consumer price index increased 0.2% last month, below expectations of economists polled by Reuters for a 0.3% gain, after dipping 0.1% in March. The U.S. dollar index USD, which measures the currency against six major peers, edged down 0.1% to100.87 as of 07:12GMT, following a 0.8% slide on Tuesday. The index had jumped 1% on Monday and touched a one-month peak on optimism that a de-escalation in U.S.-China trade tensions would avert a potential global recession.The euro was last trading up 0.24% at $1.1113. Immediate resistance can be seen at 1.1263(38.2%fib), an upside break can trigger rise towards 1.1392(May 6th high).On the downside, immediate support is seen at 1.1065(50%fib), a break below could take the pair towards 1.1000(Psychological level).
GBP/USD: The British pound strengthened on Wednesday as the U.S. dollar dipped following a smaller-than-expected rise in U.S. consumer inflation for April. The U.S. consumer prices rebounded moderately in April, rising 0.2% after a 0.1% dip in March. Inflation is expected to pick up in coming months as tariffs boost import costs. Following the report, traders leaned into bets that the Federal Reserve would hold off on lowering interest rates until September. The U.S. central bank has adopted await-and-see stance as it gauges theeconomic fallout from the U.S. tariffcampaign . Immediate resistance can be seen at 1.3338(38.2%fib), an upside break can trigger rise towards 1.3460(Higher BB).On the downside, immediate support is seen at 1.3174(50%fib), a break below could take the pair towards 1.3015(61.8%fib).
AUD/USD: The Australian dollar steadied on Wednesday as higher commodities prices and softer dollar supported Australian dollar.The U.S. dollar has weakened following the release of April's Consumer Price Index (CPI) data, which showed inflation rising at a slower pace than anticipated. Commodity prices rose, with iron ore hitting a two-week high and copper reaching its highest level in six weeks. This surge was primarily driven by a temporary easing of trade tensions between the United States and China, coupled with a weakening U.S. dollar. At GMT 07:00, the Australia dollar was up 0.06% to 0.6474 against the US dollar. Immediate resistance can be seen at 0.6491(38.2%fib), an upside break can trigger rise towards 0.6513(Higher BB).On the downside, immediate support is seen at 0.6385(50%fib), a break below could take the pair towards 0.6319(Lower BB).
USD/JPY: The U.S. dollar eased against the yen on Wednesday as dollar dipped as cooler-than-expected U.S. consumer inflation data bolstering the case for Federal Reserve easing. U.S. consumer prices rose modestly in April, with cheaper food offsetting higher rents, marking the slowest annual inflation in four years. However, the inflation outlook remains uncertain amid tariff concerns.U.S. consumer price index increased 0.2% last month, the Labor Department's Bureau of Labor Statistics said on Tuesday. Economists polled had forecast the CPI would rise 0.3%.The data showed cooling price pressures before Trump’s tariff moves and reinforced expectations that the Fed will likely hold off on rate cuts until late summer. At GMT 06:59, the US dollar was down 0.21% to 147.17 against the 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
Asian stocks rose on Wednesday as softer U.S. inflation data kept hopes for Fed rate cuts alive, though investors remained cautious about the outlook for global trade tensions.
China A 50 was up 1.74% , South Korea's KOSPI was up 1.23 %,Hang Seng was up by 2.16%.
Commodities Recap
Gold slipped on Wednesday as easing U.S.-China trade tensions reduced safe-haven demand, while investors awaited further inflation data to gauge the Fed’s next move.
Spot gold fell 0.5% to $3,231.10 an ounce, as of 0643 GMT. U.S. gold futures eased 0.4% to $3,235.30.
Oil prices edged lower on Wednesday as traders anticipated a rise in U.S. crude inventories, though they remained near two-week highs following a temporary U.S.-China tariff truce.
Brent crude futures fell 32 cents, or 0.5%, to $66.31 a barrel by 0700 GMT. U.S. West Texas Intermediate (WTI) crude slipped 32 cents, or 0.5%, to $63.35.