Posted at 10 June 2025 / Categories Market Roundups
Market Roundup
• US Redbook (YoY) 4.7%, 4.9% previous
•French 12-Month BTF Auction 1.943%,1.909% previous
•French 3-Month BTF Auction 1.943% ,1.985% previous
•French 6-Month BTF Auction 1.963%,1.962% previous
• US 52-Week Bill Auction 3.940%, 3.930% previous
Looking Ahead Economic Data(GMT)
•23:50 Japan PPI (MoM) (May) 0.2% previous
•23:50 Japan PPI (YoY) (May) 3.5% forecast,4.0% previous
Looking Ahead Events And Other Releases(GMT)
•03:15 ECB President Lagarde Speaks
Currency Forecast
EUR/USD: The euro traded in tight range on Tuesday as investors remained cautious despite prolonged trade conversations between Washington and Beijing. The uncertainty put markets on edge, with players avoiding significant bets ahead of a major US inflation report scheduled later this week. Top officials from the world's two largest economies began their attempts in London to settle an intensifying trade conflict that has extended beyond tariffs to include limitations on rare earth supplies. The conversations follow a phone call last week between U.S. President Donald Trump and Chinese President Xi Jinping, which took place at a vital crossroads as both economies exhibit escalating symptoms of strain following months of mounting US tariffs. The euro was little changed at $1.142. 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 dipped lower on Tuesday as lackluster UK labour market data contributed to predictions of more interest rate cuts in the year. Data showed UK wage growth slowed dramatically and the jobless rate surged to its highest level in almost 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).
USD/CAD: The Canadian dollar moved higher versus its U.S. counterpart on Tuesday as investors awaited outcome in U.S.-China trade talks. U.S. Commerce Secretary Howard Lutnick said trade discussions in London with Chinese officials were going well and he hoped they would end on Tuesday night, but acknowledged they could stretch into Wednesday. Canada is a big supplier of commodities, especially oil, thus the loonie tends to be sensitive to the prognosis for the global economy. The price of oil settled 0.5% lower at $64.98 a barrel, while Canadian bond yields were mixed across the curve. The loonie was trading 0.1% higher at 1.3687 per U.S. dollar, after moving in a range of 1.3669 to 1.3728. Last Thursday, the currency touched its strongest intraday level since October 8 at 1.3632. Immediate resistance can be seen at 1.3722(June 9th high), an upside break can trigger rise towards 1.3783 (38.2% fib).On the downside, immediate support is seen at 1.3633(23.6% fib), a break below could take the pair towards 1.3587(Lower BB).
USD/JPY: The US dollar edged higher the Japanese yen on Tuesday as dollar was boosted by statements from U.S. officials that trade negotiations between Beijing and Washington were progressing well, although there was no clear consensus of a settlement as the talks continued for a second day.U.S. Commerce Secretary Howard Lutnick repeated President Donald Trump's positive tone on the trade conversations with top Chinese economic officials, but provided no details. Officials from the world's two largest economies were meeting in London to attempt to defuse a disagreement that has spread from tariffs to limitations over rare earths.Trump and his Chinese counterpart Xi Jinping spoke by phone last week at a key time for both economies as symptoms of tension appeared from the former's cascade of tariff levies since January. The dollar was up 0.2% against the yen at 144.92 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 markets closed little changed on Tuesday in cautious trade as investors awaited the outcome of the second day of U.S.-China trade talks in London.
UK's benchmark FTSE 100 closed up by 0.24percent, Germany's Dax ended down by 0.77 percent, France’s CAC finished the day down by 0.17 percent.
The S&P 500 ended higher on Tuesday, propelled by a rise in Tesla as investors banked on positive results from U.S.-China trade talks aimed at defusing a tariff war that has roiled global markets this year.
Dow Jones traded up at 0.25% percent, S&P 500 closed up by 0.55% percent, Nasdaq settled up by 0.63% percent.
Commodities Recap
Gold prices fell on Tuesday as traders watched the outcome of US-China talks, which might ease trade tensions and boost the global economy
Spot gold fell 0.1% to $3,324.55 an ounce as of 1402 EDT (1802 GMT) and U.S. gold futures settled 0.3% lower at $3,343.40.
Oil prices remained near a seven-week high on Tuesday as the market awaited direction from trade talks between the United States and China.
Brent crude futures , opens new tab slid 17 cents, or 0.3%, to settle at $66.87 a barrel, while U.S. West Texas Intermediate crude , fell 31 cents, or 0.5%, to settle at $64.98.