Posted at 09 June 2025 / Categories Market Roundups
Market Roundup
• Portuguese Trade Balance (Apr) -7.52B , -6.22B previous
Looking Ahead Economic Data(GMT)
• 13:00 French 12-Month BTF Auction 1.909% previous
• 13:00 French 3-Month BTF Auction 1.985% previous
• 13:00 French 6-Months BTF Auction 1.962% previous
•14:00 US CB Employment Trends Index (May) 107.57 previous
•14:00 US Wholesale Inventories (MoM) (Apr) 0.0% forecast, 0.4% previous
•14:00 US Wholesale Trade Sales (MoM) (Apr) 0.6% previous
•15:00 US Consumer Inflation Expectations (May) 3.6% previous
•15:30 US 3-Months Bill Auction 4.250% previous
•15:30 US 6-Month Bill Auction 4.150% previous
•17:00 US Atlanta Fed GDPNow Q2 3.8% forecast, 3.8% previous
Looking Ahead Events And Other Releases(GMT)
• No significant events
Currency Forecast
EUR/USD: The euro strengthened against the dollar on Monday as investors awaited the outcome of U.S.-China trade talks in London aimed at resolving escalating tensions between the two nations. Top officials from both countries will meet in London to address disagreements around a preliminary agreement struck last month in Geneva, which had briefly cooled tensions between the world's largest economies. 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. The European single currency rose about 0.2% to $1.1415. 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 rose on Monday as investors looked ahead to the UK government's upcoming spending review. Scheduled for Wednesday, the review will outline departmental budgets through 2029, shaping much of the Labour Party’s current term. While recent business surveys and robust Q1 GDP suggest the economy is recovering from a sluggish end to 2024, concerns remain over the country's sovereign debt. Finance Minister Rachel Reeves acknowledged on Thursday that despite signs of progress, the public is eager for tangible improvements in living standards. The UK kicks off a data-heavy week with employment numbers on Tuesday, ahead of major economic releases on Thursday such as GDP, trade figures, industrial output, construction activity, and the services index. 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 strengthened against the greenback on Monday as traders weighed mixed Chinese economic data and awaited high-stakes U.S.-China trade talks in London. Top officials from both nations are set to meet in an effort to ease escalating tensions that have expanded beyond tariffs to export controls on critical goods. On the data front, China’s producer price index fell 3.3% year-on-year in May the steepest drop in nearly two years while the consumer price index declined 0.1%, matching April’s fall but beating forecasts for a deeper 0.2% decline. The data reflect ongoing pressure from trade frictions and a prolonged property market slump. At GMT 12:32, The Australian dollar was last trading up 0.34% to $0.6516. 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 edged lower against the Japanese yen on Monday after data showed Japan's economy contracted less than initially estimated in Q1. Revised figures from the Cabinet Office revealed GDP shrank at an annualised rate of 0.2% in the January–March period, improving on the earlier estimate of a 0.7% decline and beating economists’ forecasts. The revision was driven by stronger consumer spending. While the data lent support to the yen, analysts remain cautious amid signs of economic slowdown and ongoing uncertainty surrounding U.S. President Donald Trump’s reciprocal tariffs set for early April, which continue to weigh on Japan’s 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
European stocks drifted lower on Monday as investors adopted a wait-and-see approach ahead of high-stakes trade negotiations between the U.S. and China set to take place in London later in the day.
At GMT (12:22) UK's benchmark FTSE 100 was last trading down at 0.24 percent, Germany's Dax was down by 0.66 percent, France’s CAC was down by 0.33percent.
Commodities Recap
Gold prices climbed on Monday, boosted by a softer U.S. dollar ahead of U.S.-China trade talks aimed at easing tensions.
Spot gold rose 0.3% to $3,317.97 an ounce, as of 1124 GMT, after dropping earlier in the session to $3,293.29, its lowest level since June 2.
Oil prices remained steady on Monday as investors awaited U.S.-China trade talks in London, hopeful that a deal could improve the global economic outlook and increase demand.
Brent crude futures gained 39 cents, or 0.59%, to $66.86 a barrel by 1205 GMT while U.S. West Texas Intermediate crude rose by 36 cents, or 0.56%, to $64.94.