Posted at 10 June 2025 / Categories Market Roundups
Market Roundup
• Japan M2 Money Stock (YoY) 0.6%, 0.6% forecast, 0.5% previous
• Japan M3 Money Supply (May) 2,199.6B, 2,198.3B previous
•Australia Westpac Consumer Sentiment (Jun) 0.5%, 2.2% previous
•Australia NAB Business Confidence (May) 2, -1 previous
•Australia NAB Business Survey (May) 0, 2 previous
•UK Average Earnings ex Bonus (Apr) 5.2%, 5.4% forecast, 5.5% previous
•UK Average Earnings Index +Bonus (Apr) 5.3%, 5.5% forecast, 5.6% previous
•UK Claimant Count Change (May) 33.1K, 9.5K forecast, -21.2K previous
•UK Employment Change 3M/3M (MoM) (Apr) 89K, 112K previous
•UK Unemployment Rate (Apr) 4.6% 4.6% forecast, 4.5% previous
Looking Ahead Economic Data(GMT)
•08:00 Italian Industrial Production (MoM) (Apr) 0.0% forecast, 0.1% previous
•08:00 Italian Italian Industrial Production (YoY) (Apr) -1.8% previous
•08:30 EU Sentix Investor Confidence (Jun) -5.3 forecast, -8.1 previous
•08:40 Spanish 3-Month Letras Auction 1.976% previous
•09:00 Greek CPI (YoY) (May) 2.0% previous
•09:00 Greek HICP (YoY) (May) 2.6% previous
•09:00 Greek Industrial Production (YoY) (Apr) 1.7% previous
•09:30 German 5-Year Bobl Auction 2.070% previous
Currency Forecast
EUR/USD: The euro edged lower on Tuesday as the U.S. dollar strengthened, with investors staying cautious amid ongoing trade talks between Washington and Beijing. The uncertainty kept markets on edge, with participants avoiding major positions ahead of a key U.S. inflation report due later in the week. Top officials from the world’s two largest economies continued efforts in London to resolve a deepening trade conflict that has expanded beyond tariffs to include restrictions on rare earth exports. The negotiations follow a phone call last week between U.S. President Donald Trump and Chinese President Xi Jinping, taking place at a pivotal moment as both economies show increasing signs of strain from months of escalating U.S. tariff measures. The euro eased 0.17% to $1.14. 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 declined sharply on Tuesday after data showed UK job market cooled on April. The U.K. unemployment rate ticked higher in April, signaling further signs of a cooling labor market and adding pressure on the Bank of England to proceed with interest rate cuts.Data from the Office for National Statistics showed the jobless rate rose to 4.6% in the three months to April, in line with expectations and up from 4.5% in February. Meanwhile, regular pay growth (excluding bonuses) slowed to an annual rate of 5.2%, matching forecasts but down from a revised 5.5% in the previous period—and below both the expected 5.4% and March’s 5.6% figure. Sterling was at $1.3543. The dollar index, which measures the U.S. currency against six key rivals, was 0.2% higher at 99.189. Immediate resistance can be seen at 1.3586(23.6%fib), an upside break can trigger rise towards 1.3645(Higher BB).On the downside, immediate support is seen at 1.3440(38.2%fib), a break below could take the pair towards 1.3338(50%fib).
AUD/USD: The Australian dollar held steady against the greenback on Tuesday as investors awaited the outcome of U.S.-China trade talks, which entered a second day in London. Senior economic officials from both countries are aiming to defuse a deepening trade conflict that now extends beyond tariffs to include restrictions on rare earth exports. Any signs of progress could help calm market jitters, as the prolonged trade tensions and erratic tariff actions under the Trump administration have weighed heavily on both economies and global growth.On the data front, Australian business activity stalled in May. A survey by the National Australia Bank showed business conditions declined by 2 points to 0, falling well below the long-term average of +6. Business confidence improved slightly, rising 3 points to +2, though it remained weak by historical standards. Meanwhile, consumer sentiment inched up by 0.5% in June, following a 2.2% gain in May, according to a Westpac-Melbourne Institute survey released on Tuesday. Immediate resistance can be seen at 0.6539(23.6%fib), an upside break can trigger rise towards 0.6559(Higher BB).On the downside, immediate support is seen at 0.6499(38.2%fib), a break below could take the pair towards 0.6411(May 30th low).
USD/JPY: The U.S. dollar edged lower against the Japanese yen on Tuesday, as growing expectations that the Bank of Japan will continue its rate-hiking path lent support to the yen. BOJ Governor Kazuo Ueda reaffirmed that the central bank is prepared to raise interest rates further if underlying inflation approaches its 2% target. While keeping the door open for additional tightening, Ueda also stressed the importance of avoiding a return to zero interest rates, warning that doing so could limit the BOJ’s ability to respond to future economic slowdowns. The BOJ ended its decade-long ultra-loose monetary policy last year and raised short-term interest rates to 0.5% in January, signaling confidence that Japan is approaching a sustained period of 2% inflation.At GMT 05:50, the dollar was trading down 0.02% at 144.56 against Japanese yen. 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 were mixed on Tuesdays trade talks between the United States and China were set to extend to a second day, with tentative signs that tensions between the world's two largest economies could be easing..
Japan's Nikkei 225 was up 0.30% , South Korea’s KOSPI was up 0.56%,Hang Seng was up by 0.20%.
Commodities Recap
Gold held steady on Tuesday as traders awaited updates from U.S.-China trade talks in London, with a firm dollar capping gains.
Spot gold held its ground at $3,330.46 an ounce, as of 0648 GMT. U.S. gold futures were also flat at $3,350.30.
Oil rose on Tuesday as markets awaited the outcome of U.S.-China trade talks that may boost fuel demand.
Brent crude futures rose 22 cents, or 0.3%, to $67.26 a barrel by 0645 GMT. U.S. West Texas Intermediate crude was up 18 cents, or 0.3%, at $65.47.