Posted at 10 June 2025 / Categories Market Roundups
Market Roundup
•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
•Italian Industrial Production (MoM) (Apr) 1.0% ,0.0% forecast, 0.1% previous
•Italian Industrial Production (YoY) (Apr) 0.3%, -1.8% previous
•EU Sentix Investor Confidence (Jun) 0.2, -5.3 forecast,-8.1 previous
•Spanish 3-Month Letras Auction1.873%, 1.976% previous
•Greek CPI (YoY) (May) 2.5%,2.0% previous
•Greek Industrial Production (YoY) (Apr) -4.3% ,1.7% previous
Looking Ahead Economic Data(GMT)
•12:55 US Redbook (YoY) 4.9% previous
•13:00 French 12-Month BTF Auction 1.909% previous
•13:00 French 3-Months BTF Auction 1.985% previous
•13:00 French 6-Months BTF Auction 1.962% previous
Looking Ahead Events And Other Releases(GMT)
•14:30 EU German Buba Vice President Buch Speaks
Currency Forecast
EUR/USD: The euro rallied from its early fall on Tuesday, as investors remained cautious amid continued trade discussions between Washington and Beijing. The uncertainty put markets on edge, with players avoiding big positions ahead of a critical US inflation report anticipated later this week. Top officials from the world's two largest economies began their attempts in London to end an escalating trade war that has moved beyond tariffs to include curbs on rare earth shipments. The conversations follow a phone call last week between U.S. President Donald Trump and Chinese President Xi Jinping, which took place at a key juncture as both economies exhibit rising symptoms of strain after months of mounting US tariffs. The euro was last trading up at 0.13% to $1.1436. 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 slipped lower on Tuesday after weaker UK employment market data boosted investors' expectations for additional rate cuts from the Bank of England this year. Data showed UK pay growth slowed considerably and the jobless rate soared to its highest level in over four years, according to Britain's Office for National Statistics.The downturn looked to accelerate in May, with more recent tax office statistics showing a 109,000 drop in the number of employees on firm payrolls, the worst reduction since May 2020, during the height of the COVID-19 epidemic. The Bank of England meets next week, and although it is likely to remain steady on rates, money market traders increased their bets for more rate cuts this year. 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 steadied against the US dollar on Tuesday as investors awaited the outcome of U.S.-China trade talks, which commenced on the second day in London. Senior economic officials from both nations are attempting to resolve a worsening trade spat that has now expanded beyond tariffs to include limits on rare earth shipments. Any hints of progress might help alleviate market concerns, since the Trump administration's extended trade disputes and capricious tariff decisions have had a significant impact on both economies and global GDP. Data showed that Australian business activity halted in May. According to a National Australia Bank survey business conditions dropped by two points to zero, falling considerably below the long-term average of +6. Business confidence increased marginally, climbing three points to +2, but remained low by historical norms. Meanwhile, consumer sentiment rose by 0.5% in June, following a 2.2% increase in May, according to a Westpac-Melbourne Institute poll issued 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 US dollar slipped down versus the Japanese yen on Tuesday, as rising expectations that the Bank of Japan will continue to raise interest rates bolstered the yen. BOJ Governor Kazuo Ueda said that the central bank is ready to boost interest rates further if underlying inflation exceeds the 2% objective. While leaving the door open for further tightening, Ueda also emphasized the need of avoiding a return to zero interest rates, saying that doing so may limit the BOJ's capacity 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
European equities fell on Tuesday as investors awaited news from the second day of high-stakes US-China trade talks.
At GMT (12:22) UK's benchmark FTSE 100 was last trading up at 0.56 percent, Germany's Dax was down by 0.34 percent, France’s CAC was down by 0.04 percent.
Commodities Recap
Gold prices moved up on Tuesday as investors waited for more clarity on US-China trade negotiations and critical US inflation data anticipated this week to shed light on the Federal Reserve's future interest rate decisions.
Spot gold was up 0.1% at $3,329.09 an ounce, as of 0959 GMT, after falling to a low of $3,301.54 earlier in the session. U.S. gold futures were down 0.2% at $3,350.00.
Oil prices rose on Tuesday as investors awaited the conclusion of US-China trade negotiations.
Brent crude futures rose 44 cents, or 0.7%, to $67.48 a barrel by 1200 GMT, extending Monday’s advance. U.S. West Texas Intermediate crude was up 43 cents, or 0.7%, at $65.72.