Posted at 16 May 2025 / Categories Market Roundups
Market Roundup
• US Building Permits (MoM) (Apr) -4.7%, 1.9% previous
• US Building Permits (Apr) 1.412M, 1.450M forecast, 1.481M previous
• US Export Price Index (YoY) (Apr) 2.0%, 2.4% previous
• US Export Price Index (MoM) (Apr) 0.1%, -0.5% forecast, 0.1% previous
• US Housing Starts (MoM) (Apr) 1.6%, -10.1% previous
• US Housing Starts (Apr) 1.361M, 1.360M forecast, 1.339M previous
• US Import Price Index (YoY) (Apr) 0.1%, 0.9% previous
• US Import Price Index (MoM) (Apr) 0.1%, -0.4% forecast, -0.4% previous
•Canada Foreign Securities Purchases (Mar) -4.23B, 5.20B forecast, -10.45B previous
•Canada Foreign Securities Purchases by Canadians (Mar) 15.630B, 23.860B previous
• US Michigan 1-Year Inflation Expectations (May) 7.3%, 6.5% previous
• US Michigan 5-Year Inflation Expectations (May) 4.6%, 4.4% previous
• US Michigan Consumer Expectations (May) 46.5, 48.0 forecast, 47.3 previous
• US Michigan Consumer Sentiment (May) 50.8, 53.1 forecast, 52.2 previous
• US Michigan Current Conditions (May) 57.6, 59.6 forecast, 59.8 previous
•Canada BoC Senior Loan Officer Survey (Q1) 1.5, -1.9 previous
• US Atlanta Fed GDPNow (Q2) 2.4%, 2.5% forecast, 2.5% previous
Looking Ahead Economic Data(GMT)
•No Data Ahead
Looking Ahead Events And Other Releases (GMT)
• No Events Ahead
Currency Summaries
EUR/USD: The euro eased on Friday as U.S. dollar strengthened after the latest round of economic data showed a rebound in import prices while consumer sentiment remained subdued as tariff worries jumped. The Labor Department said import prices gained 0.1% last month after dropping 0.4% in March as a jump in the cost of capital goods outweighed cheaper energy prices. Economists polled had forecast import prices, which exclude tariffs, would decrease 0.4%. The greenback jumped over 1% Monday after the U.S. and China agreed to a 90-day tariff pause, easing recession fears, but then declined during the week partly due to weak economic data. Immediate resistance can be seen at 1.1332(38.2%fib), an upside break can trigger rise towards 1.1385(May 7th high).On the downside, immediate support is seen at 1.1160(50%fib), a break below could take the pair towards 1.1106(Lower BB).
GBP/USD: The British pound eased against dollar on Friday as attention turned to next week’s UK inflation figures as investors seek guidance on the BoE’s rate path more persistent than the central bank anticipates, suggesting interest rates may need to remain higher than markets currently expect.Robust GDP growth has strengthened the BoE’s position to maintain current interest rates should inflation continue to rise. Meanwhile, Britain will host high-level talks on Monday with European foreign ministers to strengthen defence coordination and reaffirm backing for Ukraine, ahead of PM Starmer’s meeting with EU leaders. Sterling weakened 0.2% to $1.327 and is down 0.1% on the week. Immediate resistance can be seen at 1.3335(23.6%fib), an upside break can trigger rise towards 1.3414(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).
USD/CAD: The Canadian dollar edged lower on Friday as dollar firmed after the latest round of economic data showed a rebound in import prices while consumer sentiment remained subdued as tariff worries jumped, putting it on pace for a fourth straight weekly advance. U.S. import prices rose 0.1% in April, rebounding from a 0.4% drop in March, driven by higher capital goods costs despite cheaper energy. Economists had expected a 0.4% decline. Markets have reduced expectations for U.S. Federal Reserve rate cuts this year, with a 67.1% chance now priced in for a 25 basis point cut at the September meeting, following easing trade tensions. Recent Fed comments suggest policymakers need more data to assess the economic impact of tariffs before making any policy changes.Immediate resistance can be seen at 1.3998 (38.2%fib), an upside break can trigger rise towards 1.4068 (23.6%fib).On the downside, immediate support is seen at 1.3938(50%fib), a break below could take the pair towards 1.3881(61.8%fib)
USD/JPY: The U.S. dollar initially dipped but recovered some ground against the yen on Friday as investors digested Japanese GDP data . Japan’s economy shrank for the first time in a year during the first quarter, contracting an annualized 0.7%, significantly more than the anticipated 0.2% drop. This slowdown underscores the fragile state of Japan’s recovery, which is now facing increasing pressure from U.S. trade policies. Steep tariffs imposed by the U.S. threaten the export-driven economy, particularly impacting the crucial automobile industry. The data highlights the growing challenges policymakers face as external trade tensions cloud the economic outlook. Immediate resistance can be seen at 146.86 (38.2%fib)an upside break can trigger rise towards 148.28(Higher BB) .On the downside, immediate support is seen at 144.77(50%fib)a break below could take the pair towards 144.00(Psychological level)
Equities Recap
European shares closed out their fifth consecutive week of gains on Friday, boosted by eased tariff concerns from U.S. trade deals and strong corporate earnings.
Spain’s IBEX 35 closed up by 0.96 percent, Germany's Dax ended up by 0.30 percent, France’s CAC finished the day up by 0.42 percent.
Wall Street's main indexes climbed on Friday, marking their fifth consecutive daily gain, supported by the U.S.-China tariff truce despite weakening consumer sentiment from recent economic surveys.
Dow Jones closed up by 0.78 %percent, S&P 500 closed up by 0.70% percent, Nasdaq settled up by 0.52% percent.
Commodities Recap
Gold prices fell over 2% on Friday, heading for their worst week since November, as improved risk sentiment from the U.S.-China trade deal dampened safe-haven demand.
Spot gold fell 1.6% to $3,188.25 an ounce as of 1350 ET (17:50 GMT) and was down 4.1% so far this week.Spot gold fell 1.6% to $3,188.25 an ounce as of 1350 ET (17:50 GMT) and was down 4.1% so far this week.
Oil prices settled higher on Friday, marking a second consecutive weekly gain amid easing U.S.-China trade tensions, though gains were capped by anticipated supply increases from Iran and OPEC+.
Brent crude futures settled up 88 cents, or 1.4%, at $65.41 per barrel, while U.S. West Texas Intermediate crude futures closed 87 cents, or 1.4% higher at $62.49.