Posted at 09 June 2025 / Categories Market Roundups
Market Roundup
• US CB Employment Trends Index (May) 107.49 , 108.00 previous
• US Wholesale Inventories (MoM) (Apr) 0.2%,0.0% forecast, 0.4% previous
• US Wholesale Trade Sales (MoM) (Apr) 0.1% , 0.8% previous
• US Consumer Inflation Expectations (May) 3.2%,3.6% previous
• US 3-Month Bill Auction 4.250% ,4.250% previous
• US 6-Month Bill Auction4.150%,4.150% previous
Looking Ahead Economic Data(GMT)
• 23:50 Japan M2 Money Stock (YoY) 0.6% forecast, 0.5% previous
• 23:50 Japan M3 Money Supply (May) 2,194.7B previous
•00:30 Australia Westpac Consumer Sentiment (Jun) 2.2% previous
•01:30 Australia NAB Business Confidence (May) -1 previous
•01:30 Australia NAB Business Survey (May) 2 previous
Looking Ahead Events And Other Releases(GMT)
• No significant events
Currency Forecast
EUR/USD: The euro strengthened on Monday as dollar retreated as talks began in London between the United States and China, aimed at cooling a trade dispute between the world's two largest economies. The dispute has expanded beyond tit-for-tat tariffs to restrictions over rare earths, threatening to cripple supply chains and slow global growth. U.S. President Donald Trump said his administration was doing well and that he was getting good reports as U.S. officials hold the talks with China in London. The dollar index, which measures the greenback against a basket of currencies, lost 0.14% to 98.97, with the euro up 0.25% at $1.1423. 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 strengthened 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).
USD/CAD: The Canadian dollar edged higher against its U.S. counterpart on Monday as Canada said it would pour extra billions into its armed forces, a move that some analysts say could ease the path to a trade deal with the United States.Canada has been under pressure from the United States and other NATO allies for years to increase military funding. U.S. economic data showed wholesale inventories increased in April amid stockpiling of prescription medication in anticipation of tariffs from the Trump administration.U.S. crude settled up 1.1% to $65.29 a barrel and Brent settled at $67.04 per barrel, up 0.86% on the day on hopes a trade deal could spur the global economic outlook along with a softer dollar. Immediate resistance can be seen at 1.3733(June 4th high), an upside break can trigger rise towards 1.3794 (38.2% fib).On the downside, immediate support is seen at 1.3661(23.6% fib), a break below could take the pair towards 1.3626(Lower BB).
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. The dollar was down about 0.2% against the Japanese currency at 144.55 yen after two consecutive weeks of gains. 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 shares eased in cautious trade on Monday as investors avoided making big bets pending the outcome of Sino-U.S. trade talks in London.
UK's benchmark FTSE 100 closed up by 0.06 percent, Germany's Dax ended down by 0.54percent, France’s CAC finished the day down by 0.17 percent.
The S&P 500 edged up on Monday, supported by Amazon and Alphabet, as investors monitored U.S.-China trade talks.
Dow Jones traded flat at 0.00% percent, S&P 500 closed up by 0.09% percent, Nasdaq settled up by 0.31% percent.
Commodities Recap
Gold prices rose slightly on Monday, aided by a weaker U.S. dollar, as traders focused on U.S.-China trade talks.
Spot gold rose 0.8% to $3,335.02 an ounce, as of 1350 ET (1750 GMT), after dropping to a more than one-week low earlier in the session.U.S. gold futures settled 0.2% higher at $3,354.9.
Oil prices hit multi-week highs on Monday, buoyed by a weaker U.S. dollar, while investors awaited news from U.S.-China trade talks in London in hopes a deal could boost the global economic outlook and subsequently fuel demand.
Brent crude futures settled 57 cents higher, or 0.9%, to $67.04 a barrel. During the session, the benchmark rose to $67.12 a barrel, the highest since April 28.U.S.
West Texas Intermediate crude rose 71 cents, or 1.1%, to $65.29. The contract reached $65.38 a barrel during the session, the highest since April 4.