Posted at 06 June 2025 / Categories Market Roundups
Market Roundup
•Japan Household Spending (MoM) (Apr) -1.8% , -0.8%forecast, 0.4% previous
•Japan Household Spending (YoY) (Apr) -0.1%,1.5% forecast,2.1% previous
•Japan Foreign Reserves (USD) (May) 1,298.1B,1,298.2B previous
•Australia Building Approvals (YoY) (Apr) 12.00%,5.10% forecast, 9.90% previous
•Australia Building Approvals (MoM) (Apr) -5.7%,-5.7% forecast, -8.8% previous
•Australia Private House Approvals (Apr) 3.1%,-4.5% previous
Looking Ahead Economic Data(GMT)
•09:00 EU Employment Change (YoY) (Q1) 0.6% forecast, 0.7% previous
•09:00 EU Employment Change (QoQ) (Q1) 0.3% forecast, 0.1% previous
•09:00 EU Employment Overall (Q1) 169,974.4K forecast, 169,435.3K previous
•09:00 EU GDP (YoY) 1.2% forecast, 1.2% previous
•09:00 EU GDP (QoQ) (Q1) 0.3% forecast, 0.2% previous
•09:00 EU Retail Sales (YoY) (Apr) 1.4% forecast, 1.5% previous
•09:00 EU Retail Sales (MoM) (Apr) 0.2% forecast, -0.1% previous
Looking Ahead Events And Other Releases(GMT)
• No significant events
Currency Forecast
EUR/USD: The euro eased slightly against dollar on Friday as investors digested European Central Bank rate decision and awaited upcoming US payrolls data. The U.S. nonfarm payrolls report due Friday will be closely watched, especially after a string of disappointing economic data this week highlighted the growing strain from President Donald Trump's tariffs. Markets expect nonfarm payrolls to have risen by 130,000 in the past month, with the unemployment rate likely holding at 4.2%, though there’s an increased risk it could edge up to 4.3%. . The euro last trading at $1.1426, having risen to a 1-1/2-month top in the previous session Immediate resistance can be seen at 1.1460(38.2%fib), an upside break can trigger rise towards 1.1496(Higher BB).On the downside, immediate support is seen at 1.1304(50%fib), a break below could take the pair towards 1.1173(61.8%fib).
GBP/USD: The British pound slipped on Friday as traders turned cautious ahead of the crucial U.S. nonfarm payrolls report. A monthly reading of U.S. non-farm payrolls will set the tone for the day, and help investors gauge how the Federal Reserve could navigate this uncertain trade environment. A series of weak U.S. data releases this week has heightened concerns about a potential downside surprise in the jobs numbers, which could deepen stagflation worries and increase pressure on the Federal Reserve to accelerate rate cuts. Economists expect U.S. nonfarm payrolls to have risen by 130,000 in May, with the unemployment rate likely holding steady at 4.2%. Immediate resistance can be seen at 1.3579(23.6%fib), an upside break can trigger rise towards 1.3611(Higher BB).On the downside, immediate support is seen at 1.3452(38.2%fib), a break below could take the pair towards 1.3339(50%fib).
AUD/USD: The Australian dollar slipped slightly on Friday as investors remained cautious ahead of the closely watched U.S. nonfarm payrolls report. Market participants are refraining from major moves, waiting to see whether the jobs data delivers a strong or weak signal, which could have a significant impact on the U.S. dollar and overall market sentiment. Expectations are for payrolls to have increased by 130,000, with the unemployment rate steady at 4.2%, though there is rising concern it could inch up to 4.3%. A series of soft U.S. economic reports this week has heightened fears of a downside surprise, potentially accelerating expectations for Federal Reserve rate cuts.At GMT 07:55, The Australian dollar was last trading down 0.02% to $0.6501. Immediate resistance can be seen at 0.6497(Higher BB), an upside break can trigger rise towards 0.6515(23.6%fib).On the downside, immediate support is seen at 0.6429(38.2%fib), a break below could take the pair towards 0.6373(Lower BB).
USD/JPY: The dollar edged higher against the yen on Friday as traders adopted a cautious stance ahead of the closely watched U.S. nonfarm payrolls report. Investors are bracing for the possibility of weaker-than-expected data, which could heighten stagflation concerns and increase pressure on the Federal Reserve to cut rates sooner. Federal Reserve policymakers indicated that inflation remains a greater concern than labor market cooling, suggesting a prolonged hold on monetary policy adjustments. Adding to the cautious mood, data from Japan showed household spending unexpectedly declined in April, falling 0.1% year-on-year—well below forecasts for a 1.4% increase and down sharply from March’s 2.1% gain as rising living costs continued to squeeze consumer budgets .Immediate resistance can be seen at 144.26 (38.2%fib)an upside break can trigger rise towards 143.00 (Psychological level) .On the downside, immediate support is seen at 142.28(38.2%fib)a break below could take the pair towards 141.66(Lower BB)
Equities Recap
Asian shares dipped on Friday as investors braced for the crucial U.S. payrolls report.
China A50 was down 0.12% , DJ Shanghai was down 0.03%,Hang Seng was down by 0.37%.
Commodities Recap
Gold climbed on Friday, aiming for weekly gains, as weak U.S. economic data overshadowed early optimism from President Trump’s call with China’s Xi Jinping, while investors awaited U.S. payroll numbers.
Spot gold was up 0.3% at $3,363.33 an ounce, as of 0548 GMT. Bullion has gained 2.3% for the week so far.U.S. gold futures climbed 0.4% to $3,387.
Oil prices fell slightly on Friday but were set for their first weekly gain in three weeks after President Trump and China’s Xi Jinping resumed trade talks, boosting hopes for economic growth and stronger demand.
Brent crude futures fell 11 cents, or 0.2%, to $65.23 a barrel as of 0634 GMT. U.S. West Texas Intermediate crude gave up 12 cents, also 0.2%, to $63.25, after gaining around 50 cents on Thursday