Posted at 30 May 2025 / Categories Market Roundups
Market Roundup
• US Continuing Jobless Claims : 1,919K, 1,890K forecast, 1,903K previous
• US Core PCE Prices QoQ (Q1): 3.40%, 3.50% forecast, 2.60% previous
• US Corporate Profits QoQ (Q1): -3.6% ,5.9% forecast, -0.4% previous
• US GDP QoQ (USD, Q1): -0.2%,-0.3% forecast, 2.4% previous
• US GDP Price Index QoQ : 3.7%,3.7% forecast, 2.3% previous
• US GDP Sales -2.9%, -2.5% forecast, 3.3% previous
• US Initial Jobless Claims 240K , 229K forecast, 227K previous
• US Jobless Claims 4-Week Avg. 230.75K, 231.50K previous
• US PCE Prices QoQ (Q1): 3.6%, 3.6% forecast, 2.4% previous
• US Real Consumer Spending (Q1): 1.2%, 1.8% forecast, 4.0% previous
• US Average Weekly Earnings YoY (Mar): 4.31% , 5.40% previous
• US Pending Home Sales MoM -6.3%,-0.9% forecast, 6.1% previous
• US Pending Home Sales Index : 71.3,76.5 previous
• US Natural Gas Storage 101B, 98B forecast, 120 previous
• US Crude Oil Inventories -2.795M, 1.000M forecast, 1.328M previous
Looking Ahead Economic Data(GMT)
• 01:30 Australia Building Approvals (MoM) (Apr) 3.1% forecast, -8.8% previous
• 01:30 Australia Housing Credit (Apr) 0.5% previous
• 01:30 Australia House Approvals (Apr) -4.5% previous
• 01:30 Australia Private Sector Credit (MoM) (Apr) 0.5% forecast, 0.5% previous
• 01:30 Australia Retail Sales (MoM) (Apr) 0.3% forecast, 0.3% previous
•03:00 New Zealnd M3 Money Supply (Apr) 431.4B previous
•05:00 Japan Construction Orders (YoY) (Apr) 3.5% previous
•05:00 Japan Housing Starts (YoY) (Apr) -18.2% forecast, 39.1% previous
Looking Ahead Events And Other Releases(GMT)
•No Events Ahead
Currency Summaries
EUR/USD: The euro gained on Thursday as the U.S. dollar softened following a court ruling that blocked most of President Donald Trump’s broad import tariffs. The Court of International Trade determined that Trump had overreached his legal authority by imposing duties on trading partners without congressional approval. The White House has appealed the decision and could escalate the case to the Supreme Court. The uncertainty around the ruling may prompt U.S. trade partners to delay ongoing negotiations. Meanwhile, investor focus shifts to Friday’s release of U.S. Personal Consumption Expenditures (PCE) data, which could provide fresh signals on the Federal Reserve’s policy direction. The euro was last up 0.73% at $1.1374 after falling to $1.1209, the lowest since May 19.Immediate resistance can be seen at 1.1386(23.6%fib), an upside break can trigger rise towards 1.1421(Higher BB).On the downside, immediate support is seen at 1.1187(38.2%fib), a break below could take the pair towards 1.1117(Lower BB).
GBP/USD: The British pound strengthened on Thursday as dollar fell as investors prepared for U.S. President Donald Trump to battle a U.S. trade court ruling on Wednesday that blocked most of his proposed tariffs. . The greenback also weakened on news that the number of Americans filing new applications for jobless benefits rose more than expected last week, and the unemployment rate appeared to have picked up in May, suggesting increasing layoffs as tariffs cloud the economic outlook.The pound has gained almost 8% against the dollar in 2025 and is on track for its fourth consecutive monthly rise, as investors react to uncertain U.S. trade policy.It has also been boosted by strong data, including retail sales last week as well as the announcement of a UK-U.S. trade deal earlier this month.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).
USD/CAD: The Canadian dollar strengthened against its U.S. counterpart on Thursday as some investors doubted a U.S. court ruling would change the outlook for U.S. tariffs and after domestic data showed that the current account deficit narrowed in the first quarter. Investors prepared for a battle over U.S. President Donald Trump’s tariff agenda after a U.S. trade court on Wednesday blocked most of the proposed trade levies. Canada sends about 75% of its exports to the United States, so its economy could be hurt particularly badly by the global trade war. Prime Minister Mark Carney welcomed the ruling.The Canadian current account deficit narrowed to C$2.13 billion ($1.54 billion) in the first quarter from an upwardly revised C$3.56 billion deficit in the fourth quarter. The price of oil , one of Canada's major exports, fell 1.4% to $61.00 a barrel after the International Energy Agency's director warned of weaker demand in China. Immediate resistance can be seen at 1.3868 (May 2nd high), an upside break can trigger rise towards 1.3946 (38.2%fib).On the downside, immediate support is seen at 1.3774(23.6%fib), a break below could take the pair towards 1.3705(Lower BB)
USD/JPY: The U.S. dollar fell against the Japanese yen on Thursday as investors digested the unfolding legal dispute over President Donald Trump’s "Liberation Day" tariffs. On Wednesday, the U.S. Court of International Trade ruled that Trump had exceeded his authority by imposing sweeping tariffs on imports from key trading partners. In response, the Trump administration quickly appealed the ruling, and an appeals court temporarily reinstated the tariffs, extending the uncertainty in the markets. At the same time, economic data showed signs of a weakening labor market, with initial jobless claims rising more than anticipated last week, adding to concerns about the U.S. economy.The dollar weakened 0.48% to 144.13 against the Japanese yen. Immediate resistance can be seen at 144.12 (SMA 11)an upside break can trigger rise towards 145.64(50%fib) .On the downside, immediate support is seen at 143.73(38.2%fib)a break below could take the pair towards 143.00(Psychological level)
Equities Recap
European shares fell on Thursday as markets digested an ongoing court battle over President Donald Trump's so-called "Liberation Day" tariffs.
UK's benchmark FTSE 100 closed down by 0.11 percent, Germany's Dax ended down by 0.44 percent, France’s CAC finished the day down by 0.11 percent.
U.S. stocks closed higher on Thursday, boosted by strong gains in Nvidia following its earnings report, while markets also absorbed a late-day court ruling that reinstated President Donald Trump’s broad tariff measures.
Dow Jones closed up by 0.28 %percent, S&P 500 closed up by 0.40% percent, Nasdaq settled up by 0.39% percent.
Commodities Recap
Oil prices dropped over 1% on Thursday, reversing earlier gains, as investors assessed the impact of a U.S. court ruling blocking President Trump’s broad tariff measures.
Brent crude futures settled down 75 cents, or 1.2%, to $64.15 a barrel. U.S. West Texas Intermediate crude fell 90 cents, or 1.5%, to $60.94 a barrel.
Gold prices rose in choppy trade on Thursday, supported by weaker U.S. jobs data, as investors also reacted to a court decision blocking most of President Donald Trump's proposed tariffs.
Spot gold reversed course to rise 0.9% to $3,318.69 an ounce, as of 02:35 p.m. ET (1835 GMT), after hitting its lowest since May 20 earlier in the session.