Posted at 09 June 2025 / Categories Market Roundups
Market Roundup
• Japan Adjusted Current Account (Apr): 2.31T, 2.72T forecast
• Japan Bank Lending (YoY) (May): 2.4%, 2.3% previous
• Japan Current Account n.s.a. (Apr): 2.258T, 2.560T forecast, 3.678T previous
• Japan GDP (QoQ) (Q1): 0.0%, -0.2% forecast, 0.6% previous
• Japan GDP Annualized (QoQ) (Q1): -0.2%, -0.7% forecast, 2.2% previous
• Japan GDP Capital Expenditure (QoQ) (Q1): 1.1%, 1.4% forecast, 0.6% previous
• Japan GDP External Demand (QoQ) (Q1): -0.8%, -0.8% forecast, 0.7% previous
• Japan GDP Price Index (YoY) (Q1): 3.3%, 3.2% forecast, 2.9% previous
• Japan Private Consumption (QoQ) (Q1): 0.1%, 0.0% forecast, 0.1% previous
•China CPI (MoM) (May): -0.2%, 0.1% previous
•China CPI (YoY) (May): -0.1%, -0.2% forecast, -0.1% previous
•China PPI (YoY) (May): -3.3%, -3.1% forecast, -2.7% previous
•China Exports (May): 6.30M, 9.30M previous
•China Imports (May): -2.10M, 0.80M previous
•China Exports (YoY) (May): 4.8%, 5.0% forecast, 8.1% previous
•China Imports (YoY) (May): -3.4%, -0.9% forecast, -0.2% previous
•China Trade Balance (May): 743.56B, 710.00B forecast, 689.99B previous
•China Trade Balance (USD) (May): 103.22B, 101.10B forecast, 96.18B previous
Looking Ahead Economic Data(GMT)
•10:00 Portuguese Trade Balance (Apr) -6.22B previous
Looking Ahead Events And Other Releases(GMT)
• No significant events
Currency Forecast
EUR/USD: The euro strengthened against the dollar on Monday as the dollar weakened as investors closely watched the upcoming U.S.-China trade talks. Later in the day, senior U.S. officials, including Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and U.S. Trade Representative Jamieson Greer, will meet their Chinese counterparts led by Vice Premier He Lifeng in London. The discussions aim to resolve the ongoing trade dispute between the world’s two largest economies, which has unsettled global markets.Looking ahead, key eurozone data will be released on Friday, including industrial production and trade figures, while Germany is set to report its final inflation reading for May. In the U.S., the data calendar kicks off Wednesday with the May Consumer Price Index (CPI), a crucial indicator that will influence Federal Reserve rate expectations. This will be followed by the Producer Price Index (PPI), weekly jobless claims, and the University of Michigan’s consumer sentiment and inflation expectations surveys. Immediate resistance can be seen at 1.1509(23.6%fib), an upside break can trigger rise towards 1.1551(Higher BB).On the downside, immediate support is seen at 1.1335(50%fib), a break below could take the pair towards 1.1226(50%fib).
GBP/USD: The British pound gained strength on Monday as the U.S. dollar softened ahead of critical trade negotiations between the United States and China scheduled in London later that day. Senior trade representatives from both nations are set to convene in an effort to ease mounting trade tensions that have intensified in recent weeks. These talks come just days after a rare phone conversation between U.S. President Donald Trump and Chinese President Xi Jinping—their first direct discussion since Trump’s inauguration on January 20.Meanwhile, the United Kingdom is preparing for a packed economic calendar this week. The focus will begin with Tuesday’s employment figures, followed by a wave of key data releases on Thursday, including GDP, construction output, trade balance, the services index, and industrial production. Additionally, the Labour government is slated to deliver its inaugural spending review on Wednesday, marking a significant event for fiscal policy outlook. Immediate resistance can be seen at 1.3622(23.6%fib), an upside break can trigger rise towards 1.3711(Higher BB).On the downside, immediate support is seen at 1.3505(June 4th low), a break below could take the pair towards 1.3424(38.2%fib).
AUD/USD: The Australian dollar climbed against dollar on Monday as traders assessed a mixed set of Chinese economic data and awaited US-China trade talks. Top U.S. and Chinese officials will meet in London Monday to ease the escalating trade dispute, which has expanded from tariffs to export controls on critical goods and supply chain components. China’s producer deflation worsened to its deepest level in nearly two years in May, while consumer prices continued to decline amid ongoing trade tensions and a prolonged housing slump. The consumer price index fell 0.1% year-on-year in May, matching April’s decline and beating forecast of a 0.2% drop. The producer price index dropped 3.3% in May from a year earlier, worsening from April’s 2.7% decline and marking the deepest contraction in 22 months, according to National Bureau of Statistics data. At GMT 05:42, The Australian dollar was last trading up 0.43% to $0.6509. Immediate resistance can be seen at 0.6539(Higher BB), an upside break can trigger rise towards 0.6559(23.6%fib).On the downside, immediate support is seen at 0.6482(June 6th low), a break below could take the pair towards 0.6451(38.2%fib).
USD/JPY: The U.S. dollar slipped lower against the Japanese yen on Monday after data showed Japan's economy contracted at a slower-than-expected pace in the January-March period. According to revised figures from the Cabinet Office, gross domestic product (GDP) shrank at an annualised rate of 0.2% in the January–March period, a significant improvement from the initial estimate of a 0.7% decline published on May 16, which had aligned with economists’ median forecast. The upward revision was largely attributed to stronger consumer spending. While the data offered a temporary boost to the yen, analysts remain cautious, noting that the Japanese economy was already showing signs of losing momentum ahead of the implementation of U.S. President Donald Trump’s reciprocal tariffs on April 2. The uncertainty surrounding global trade policy continues to cloud Japan’s economic outlook. Immediate resistance can be seen at 145.00 (Psychological level)an upside break can trigger rise towards 146.25(50%fib) .On the downside, immediate support is seen at 143.43(38.2%fib)a break below could take the pair towards 141.66(Lower BB)
Equities Recap
Asian markets firmed on Monday as markets reacted to stronger-than-expected U.S. jobs data ahead of U.S.-China trade talks in London aimed at easing tensions.
Japan's Nikkei 225 was up 0.90% , South Korea’s KOSPI was up 1.30%,Hang Seng was up by 1.29%.
Commodities Recap
Oil prices dipped slightly on Monday as investors awaited U.S.-China trade talks in London, hoping a deal could improve the global economic outlook and boost demand.
Brent crude futures slipped 6 cents to $66.41 a barrel by 0450 GMT. U.S. West Texas Intermediate crude fell 4 cents to $64.54.
Gold prices held steady on Monday as investors remained cautious, buoyed by optimism ahead of U.S.-China trade talks later in the day.
Spot gold edged 0.1% higher at $3,313.54 an ounce, as of 0543 GMT. U.S. gold futures lost 0.4% to $3,333.80.