Posted at 28 May 2025 / Categories Market Roundups
Market Roundup
• Australia Construction Work Done (QoQ) (Q1) 0.0%, 0.5% forecast,0.9% previous
• Australia Weighted mean CPI (YoY) (Apr) 2.40%, 2.30% forecast, 2.40% previous
•New Zealand RBNZ Interest Rate Decision 3.25%, 3.25% forecast, 3.50% previous
•German Import Price Index (MoM) (Apr) -1.7%, -1.4% forecast, 3 -1.0% previous
•German Import Price Index (YoY) (Apr) -0.4%,0.1% forecast, 2.1% previous
•French Consumer Spending (MoM) (Apr) 0.3%, 0.8% forecast, -1.1% previous
•French GDP (YoY) (Q1) 0.8%, 0.6% previous
•French GDP (QoQ) (Q1) 0.1%, 0.1% forecast,-0.1% previous
• French Non-Farm Payrolls (QoQ) (Q1) -0.1%, 0.0% forecast, -0.3% previous
• EU PPI (YoY) (Apr) -0.80%, -0.20% previous
• French PPI (MoM) (Apr) -4.3%, -0.5% previous
Looking Ahead Economic Data(GMT)
• 07:55 German Unemployment Change (May) 12K forecast,4K previous
• 07:55 German Unemployment Rate (May) 6.3% forecast, 6.3% previous
• 07:55 German Unemployment (May) 2.922M previous
• 07:55 German Unemployment n.s.a. (May) 2.932M previous
• 08:00 Swiss ZEW Expectations (May) -51.6 previous
• 09:00 Belgian GDP (QoQ) (Q1) 0.4% forecast, 0.2% previous
Currency Forecast
EUR/USD: The euro weakened on Wednesday as dollar buying surged following signs of potential trade deals and stronger-than-expected U.S. consumer confidence data for May. Investors are now focused on Friday’s April Personal Consumption Expenditure report, the Fed’s preferred inflation measure, which could reveal the impact of Trump’s trade policies. After five months of decline, U.S. consumer confidence rebounded in May amid a trade truce with China, though concerns over tariff-driven price increases and economic risks remain. The Conference Board reported its consumer confidence index jumped 12.3 points to 98.0, beating expectations. Immediate resistance can be seen at 1.1436(Higher BB), an upside break can trigger rise towards 1.1450(Higher BB).On the downside, immediate support is seen at 1.1535(23.6%fib), a break below could take the pair towards 1.1279(May 26th low).
GBP/USD: The British pound edged lower on Wednesday as U.S. dollar gained following better-than-expected consumer confidence data. The U.S. dollar was also boosted by Trump's decision to delay higher tariffs on the European Union over the weekend. Investors will watch out for the April Personal Consumption Expenditure report - the Federal Reserve's preferred inflation gauge - on Friday that could help gauge the impact of Trump's trade policies. The dollar index, which measures the U.S. currency against six rivals, was last 0.25% higher at 99.776 but is down 8% for the year. Sterling last bought $1.3488 but stayed close to the three-year high touched on Monday. Immediate resistance can be seen at 1.3558(23.6%fib), an upside break can trigger rise towards 1.3617(Higher BB).On the downside, immediate support is seen at 1.3400(38.2%fib), a break below could take the pair towards 1.3317(April 30th low).
AUD/USD: The Australian dollar slipped lower on Wednesday as a stronger US dollar offset better-than-expected Australian inflation figures. Australian consumer inflation remained steady in April, with rising health and holiday expenses offsetting lower petrol prices. Despite monthly volatility, hopes for further interest rate cuts largely remain intact. Data from the Australian Bureau of Statistics showed the annual consumer price index (CPI) rose 2.4% in April, matching March’s figure and slightly exceeding the median forecast of 2.3%.The data may disappoint the Reserve Bank of Australia, which last week cut rates by 25 basis points to 3.85%, relying on the expectation that inflation would keep easing.At GMT 07:30, the Australian dollar was down 0.13% to 0.6433 against the dollar. Immediate resistance can be seen at 0.6499(38.2%fib), an upside break can trigger rise towards 0.6580(23.6%fib).On the downside, immediate support is seen at 0.6391(50%fib), a break below could take the pair towards 0.6352(Lower BB).
USD/JPY: The U.S. dollar gained modestly against the Japanese yen on Wednesday, supported by stronger-than-expected U.S. economic data despite ongoing concerns about fiscal health and trade policies. U.S. consumer confidence rebounded in May after five months of decline, boosted by a trade truce with China, though worries over tariffs and their economic impact remain. The Conference Board reported consumer confidence surged 12.3 points to 98.0, well above forecasts of 87.0. Meanwhile, BOJ Governor Ueda cautioned that volatility in super-long Japanese government bond yields could affect short-term rates and the broader economy. Last week, yields on super-long JGBs hit record highs amid a global bond sell-off sparked by concerns over worsening fiscal conditions in advanced economies. Immediate resistance can be seen at 144.45 (38.2%fib)an upside break can trigger rise towards 145.00(Psychological level) .On the downside, immediate support is seen at 142.97(23.6%fib)a break below could take the pair towards 141.30(Lower BB)
Equities Recap
Asian stock markets rose on Wednesday as investor sentiment improved on solid U.S. economic data and easing trade concerns.
Japan's Nikkei 225 was up 0.03% , South Korea's KOSPI was up 1.25 %,Hang Seng was down by 0.40%.
Commodities Recap
Gold held flat on Wednesday as dip-buying was offset by easing U.S.-EU trade tensions, with markets eyeing the upcoming U.S. core PCE data for rate clues.
Spot gold was flat at $3,302.22 an ounce, as of 0621 GMT. Bullion fell more than 1% in the previous session. U.S. gold futures were steady at $3,300.60.
Oil gained modestly after the U.S. halted Chevron’s Venezuelan exports, though OPEC+ supply expectations limited the upside.
Brent crude futures rose 25 cents, or 0.4%, to $64.34 a barrel by 0345 GMT, while U.S. West Texas Intermediate crude gained 24 cents, or 0.4%, at $61.13 a barrel.