Posted at 27 May 2025 / Categories Market Roundups
Market Roundup
• US Durable Goods Orders (MoM) (Apr): -6.3%, -7.6% forecast, 7.6% previous
• US Durables Excluding Defense (MoM) (Apr): -7.5%, 9.0% previous
• US Goods Orders Non Defense Ex Air (MoM) (Apr): -1.3%, 0.3% previous
•Canada Wholesale Sales (MoM) (Apr): -0.9%, 0.2% previous
• US House Price Index (YoY) (Mar): 3.7%, 3.9% previous
• US House Price Index (MoM) (Mar): -0.1%, 0.1% forecast, 0.0% previous
• US House Price Index (Mar): 436.6, 436.8 previous
• US S&P/CS HPI Composite - 20 s.a. (MoM) (Mar): -0.1%, 0.4% previous
• US S&P/CS HPI Composite - 20 n.s.a. (MoM) (Mar): 1.1%, 0.7% previous
• US S&P/CS HPI Composite - 20 n.s.a. (YoY) (Mar): 4.1%, 4.5% forecast, 4.5% previous
• US CB Consumer Confidence (May): 98.0, 87.1 forecast, 85.7 previous
• US Atlanta Fed GDPNow (Q2): 2.2%, 2.4% forecast, 2.4% previous
• US Dallas Fed Mfg Business Index (May): -15.3%, -35.8 previous
• US 3-Month Bill Auction: 4.255%, 4.285% previous
• US 6-Month Bill Auction: 4.160%, no forecast, 4.140% previous
Looking Ahead Economic Data(GMT)
•01:30 Australia Construction Work Done (QoQ) (Q1): 0.5% forecast, 0.5% forecast, 0.5% previous
•01:30 Australia Weighted Mean CPI (YoY) (Apr): 2.30% forecast, 2.40% previous
•New Zealand RBNZ Interest Rate Decision: 3.25% forecast, 3.50% previous
Looking Ahead Events And Other Releases (GMT)
• 02:00 RBNZ Monetary Policy Statement
• 02:00 RBNZ Rate Statement
• 02:10 US Fed Waller Speaks
• 03:00 RBNZ Press Conference
Currency Summaries
EUR/USD: The euro slipped on Tuesday after data showed French inflation dropped to its lowest level since December 2020, weighed down by a sharp decline in energy prices and slower service cost increases. Preliminary figures from INSEE revealed that France's harmonized consumer prices adjusted for Eurozone comparison rose just 0.6% year-on-year in May, down from 0.9% in April and below analyst expectations. A poll of 21 analysts had forecast a 0.9% rise, with estimates ranging from 0.7% to 0.9%.The reading marks the lowest inflation rate of 2024 so far and the softest since the pandemic-era flat reading in late 2020. European Central Bank policymaker and Bank of France Governor François Villeroy de Galhau welcomed the figures as a sign of “disinflation in action,” adding they strengthen the case for a possible ECB rate cut before summer. Immediate resistance can be seen at 1.1447(38.2%fib), an upside break can trigger rise towards 1.1574(23.6%fib).On the downside, immediate support is seen at 1.1325(50%fib), a break below could take the pair towards 1.1207(61.8%fib).
GBP/USD: The British pound edged lower on Tuesday as the U.S. dollar regained strength as investors took comfort from U.S. President Donald Trump's decision to delay higher tariffs on the European Union. The move eased immediate trade tensions and bolstered dollar demand. Meanwhile, expectations for a Bank of England rate cut at its June meeting have faded after last week's stronger-than-expected inflation data. Market pricing now shows a 93.6% probability that the BoE will hold rates steady. This follows the central bank's recent 25 basis point cut on May 8, which brought the Bank Rate down to 4.25%.UK economic data has also outperformed forecasts, reinforcing the BoE’s cautious stance. Retail sales data released last Friday showed a sharp rebound in April, further highlighting the economy's resilience despite ongoing inflationary pressures. Immediate resistance can be seen at 1.3598(Daily hiigh), an upside break can trigger rise towards 1.3658(23.6%fib).On the downside, immediate support is seen at 1.3473(38.2%fib), a break below could take the pair towards 1.3326(50%fib).
USD/CAD: The Canadian dollar weakened against its U.S. counterpart on Tuesday as the greenback strengthened after data showed U.S. consumer confidence in May . Data showed on Tuesday that U.S. consumer confidence snapped five straight months of decline and improved in May amid a truce in the trade war between Washington and Beijing. The Conference Board said on Tuesday its consumer confidence index increased 12.3 points to 98.0 this month. Economists polled by Reuters had forecast the index inching up to 87.0. The price of oil , one of Canada's major exports, was trading 1.4% lower at $60.66 a barrel on worries of a supply glut, while preliminary domestic data showed that wholesale sales, opens new tab decreased 0.9% in April from March. The loonie was trading 0.4% lower at 1.3790 per U.S. dollar, or 72.52 U.S. cents, extending its pullback from a seven-month intraday high that it touched on Monday at 1.3684 . 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 Tuesday, as the yen came under pressure following a sharp decline in Japan’s long-dated government bond yields. The move came after a media report showed that Japan’s Ministry of Finance may reduce issuance of super-long bonds, following a surge in their yields in recent weeks. Investor sentiment was also supported by U.S. President Donald Trump's decision to delay a planned hike in tariffs on European Union imports, easing immediate trade concerns and boosting demand for risk-sensitive assets. Meanwhile, Japanese Finance Minister Katsunobu Kato said the government is closely monitoring the debt market, while Bank of Japan Governor Kazuo Ueda reiterated that the central bank remains alert to rising inflationary pressures signaling the possibility of further rate hikes.Immediate resistance can be seen at 144.30 (38.2%fib)an upside break can trigger rise towards 145.00(Psychological level) .On the downside, immediate support is seen at 142.30(23.6%fib)a break below could take the pair towards 140.71(Lower BB)
Equities Recap
European shares ended higher on Tuesday, supported by gains in defence stocks after Trump threatened more sanctions on Russia. Market sentiment was also lifted by lingering optimism over the delayed U.S. tariffs on the EU.
UK's benchmark FTSE 100 closed up by 0.69 percent, Germany's Dax ended up by 0.83 percent, France’s CAC finished the day down by 0.02 percent.
Wall Street rallied on Tuesday, lifted by U.S. President Donald Trump’s tariff delay and a surprise rise in consumer confidence, which boosted investor risk sentiment.
Dow Jones closed up by 1.78 %percent, S&P 500 closed up by 2.05% percent, Nasdaq settled up by 2.47% percent.
Commodities Recap
Gold prices fell for a second straight session on Tuesday, pressured by improved risk appetite after U.S. President Donald Trump delayed tariffs on the European Union.
Spot gold fell 1.2% to $3,302.10 an ounce by 02:03 p.m. ET (1802 GMT) after rising nearly 5% last week.U.S. gold futures settled 1.9% lower at $3,300.40.
Oil prices fell 1% on Tuesday as progress in U.S.-Iran talks and expectations of an OPEC+ output hike raised concerns about a potential supply glut.
Brent crude futures closed down 65 cents, or 1%, at $64.09 a barrel, while U.S. West Texas Intermediate crude fell 64 cents, or around 1.04%, to $60.89 a barrel.