Posted at 12 June 2025 / Categories Market Roundups
Market Roundup
• New Zealand Electronic Card Retail Sales (MoM) (May) -0.2%forecast,0.0%previous
• New Zealand Electronic Card Retail Sales (YoY) (May) 0.9%,-0.3% forecast,-0.3% previous
• Japan BSI Large Manufacturing Conditions (Q2) -4.8, 0.8 forecast,-2.4 previous
• Japan Foreign Bonds Buying -458.6B ,-118.0B previous
• Japan Foreign Investments in Japanese Stocks 180.2B, 336.1B previous
• UK Construction Output (MoM) (Apr) 0.9%, 0.3% forecast,0.5% previous
• UK Construction Output (YoY) (Apr) 3.3%, 1.4% previous
• UK GDP (MoM) (Apr) -0.3% ,-0.1% forecast,0.2% previous
• UK GDP (YoY) (Apr) 0.9%, 1.1% previous
• UK Index of Services 0.6%, 0.7% forecast,0.7% previous
• UK Industrial Production (MoM) (Apr) -0.6%, -0.4% forecast,-0.7% previous
• UK Industrial Production (YoY) (Apr) -0.3%,-0.2% forecast, -0.7% previous
• UK Manufacturing Production (MoM) (Apr) -0.9%,-0.8% forecast, -0.8% previous
• UK Manufacturing Production (YoY) (Apr) 0.4%,0.4% forecast, -0.8% previous
• UK Monthly GDP 3M/3M Change (Apr) 0.7%,0.7% forecast,0.7% previous
• UK Trade Balance (Apr) -23.21B , 20.80B forecast,-19.87B previous
• UK Trade Balance Non-EU (Apr) -8.65B -6.83B previous
Looking Ahead Economic Data(GMT)
•10:00 Irish CPI (YoY) (May) 2.2% previous
•10:00 Irish CPI (MoM) (May) 0.4% previous
•10:00 Irish HICP (MoM) (May) 0.0%forecast,0.4% previous
•10:00 Irish HICP (YoY) (May) 1.4%forecast,2.0% previous
•10:00 Portuguese CPI (YoY) (May) 2.3% forecast,2.1% previous
•10:00 Portuguese CPI (MoM) (May) 0.4% forecast 0.7% previous
Looking Ahead Events And Other Releases(GMT)
•09:00 ECB's Schnabel Speaks
•12:00 ECB's De Guindos Speaks
•12:20 ECB's Schnabel Speaks
Currency Summaries
EUR/USD: The euro edged higher against the U.S. dollar on Thursday as dollar weakened after softer-than-expected U.S. inflation data boosted expectations of Federal Reserve rate cuts. U.S. consumer prices rose less than expected in May, with lower gasoline prices offsetting rent gains. However, inflation may pick up in the coming months due to import tariffs imposed by the Trump administration. The Consumer Price Index (CPI) increased 0.1% last month after rising 0.2% in April, the Labor Department's Bureau of Labor Statistics (BLS) said. In the 12 months through May, the CPI advanced 2.4% after gaining 2.3% in April. Looking ahead, US Producer Price Index (PPI) due later today will be closely watched as the next key gauge of U.S. inflation pressures and potential Fed policy direction. Immediate resistance can be seen at 1.1460(38.2%fib), an upside break can trigger rise towards 1.1496(Higher BB).On the downside, immediate support is seen at 1.1304(50%fib), a break below could take the pair towards 1.1173(61.8%fib).
GBP/USD: The British pound slipped against the U.S. dollar on Thursday after data showed the UK economy shrank 0.3% in April the sharpest monthly contraction since October 2023. The decline was largely blamed on the fallout from broad U.S. tariffs announced by President Trump. The weaker-than-expected GDP figures add to the Bank of England's dilemma ahead of next week’s policy meeting. Bank of England policymakers, expected to keep rates steady next week, face the challenge of balancing persistent inflation with a sluggish economy.While a recent business survey hinted at a return to modest growth, broader sentiment remains downbeat. Immediate resistance can be seen at 1.3579(23.6%fib), an upside break can trigger rise towards 1.3611(Higher BB).On the downside, immediate support is seen at 1.3452(38.2%fib), a break below could take the pair towards 1.3339(50%fib).
AUD/USD: Australian dollar weakened on Thursday as soft U.S. inflation data, an uncertain U.S.-China trade truce, and rising Middle East tensions dented risk sentiment.U.S. CPI rose less than expected in May, with lower gas prices offsetting rent gains, though inflation is seen picking up ahead due to Trump’s import tariffs.Trump said Wednesday that the U.S. and China had agreed on a framework to revive their trade truce, potentially averting further tariff hikes. Trump added he could extend a July 8 deadline for trade talks with other nations before higher U.S. tariffs take effect but did not foresee such a need. Trump's unpredictable tariff moves have unsettled global markets, leading many investors to pull out of U.S. assets, particularly the dollar, over concerns about inflation and slowing growth. Immediate resistance can be seen at 0.6497(Higher BB), an upside break can trigger rise towards 0.6515(23.6%fib).On the downside, immediate support is seen at 0.6429(38.2%fib), a break below could take the pair towards 0.6373(Lower BB).
USD/JPY: The U.S. dollar weakened against the Japanese yen on Thursday as rising Middle East tensions and soft U.S. inflation data boosted demand for safe-haven assets. The yen gained after the U.S. signaled slow progress in nuclear talks with Iran and Israel warned of potential military action. President Trump urged Israeli Prime Minister Netanyahu to show restraint, while also announcing the withdrawal of U.S. personnel from the region over security concerns. Meanwhile, the dollar dipped further following a weaker-than-expected rise in May CPI, though inflation may pick up due to import tariffs. Against a basket of currencies, the dollar fell to its weakest since April 22 at 98.246 and was last down 0.04% at 98.419.yen climbed 0.4% to 143.95 per dollar. Immediate resistance can be seen at 144.26 (38.2%fib)an upside break can trigger rise towards 143.00 (Psychological level) .On the downside, immediate support is seen at 142.28(38.2%fib)a break below could take the pair towards 141.66(Lower BB)
Equities Recap
Japan's Nikkei fell on Thursday as a stronger yen weighed on exporter shares, while weaker U.S. stock futures dampened overall market sentiment.
Japan's Nikkei 225 was down 0.68% , South Korea’s KOSPI was up 0.45%,Hang Seng was up by 1.42%.
Commodities Recap
Gold prices climbed on Thursday, supported by Middle East tensions and a weaker dollar, as soft U.S. inflation data raised hopes for Fed rate cuts.
Spot gold was up 0.6% at $3,373.09 an ounce, as of 0552 GMT. U.S. gold futures gained 1.5% to $3,393.80.
Oil prices dipped on Thursday, giving up earlier gains, as traders weighed the U.S. move to withdraw personnel from the Middle East ahead of upcoming nuclear talks with Iran.
Brent crude futures were down 30 cents, or 0.4%, to $69.47 a barrel at 0433 GMT, while U.S. West Texas Intermediate crude was 23 cents lower, or 0.3%, at $67.92 a barrel.