Posted at 12 June 2025 / Categories Market Roundups
Market Roundup
• 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
•US Continuing Jobless Claims 1,956K,1,902K previous
•US Core PPI (MoM) (May) 0.1%,0.3%forecast,-0.2% previous
•US Core PPI (YoY) (May) 3.1%, 3.1% previous
•US Initial Jobless Claims 248K,242K forecast,247K previous
•US Jobless Claims 4-Week Avg. 240.25K,235.00K previous
•US PPI (MoM) (May) 0.1%, 0.2% forecast,-0.5% previous
•US PPI (YoY) (May) 2.6%,2.6% forecast, 2.4% previous
•US PPI ex. Food/Energy/Transport (MoM) (May) 2.7%, -0.1% previous
Looking Ahead Economic Data(GMT)
•14:30 US Natural Gas Storage 108B forecast, 122B previous
•15:00 US Cleveland CPI (MoM) (May) 0.3% previous
•15:30 US 4-Week Bill Auction 4.170% previous
•15:30 US 8-Week Bill Auction 4.225% previous
Looking Ahead Events And Other Releases(GMT)
•14:15 ECB's Elderson Speaks
Currency Summaries
EUR/USD: The euro climbed to its highest level in four years versus the U.S. dollar on Thursday, as investors flocked to safe-haven assets amid geopolitical unease and trade deal uncertainty. Concerns deepened after President Trump ordered the relocation of some U.S. personnel from the Middle East, calling the region "a dangerous place" and vowing to block Iran from developing nuclear weapons.A mix of escalating Middle East tensions and doubts over the stability of the U.S.-China trade truce drove a shift in market sentiment toward safer currencies.The euro reached its highest since late 2021 at $1.1589 and was last up 0.70% at $1.1568. Immediate resistance can be seen at 1.1620(23.6%fib), an upside break can trigger rise towards 1.1653(Higher BB).On the downside, immediate support is seen at 1.1491(Daily low), a break below could take the pair towards 1.1416(38.2%fib).
GBP/USD: The British pound strengthen against the U.S. dollar on Thursday as weaker dollar offset downbeat UK GDP data. The dollar weakened on Thursday amid rising expectations of Fed rate cuts and ongoing uncertainty surrounding global tariff disputes. Data showed that the British economy shrank more-than-expected, the biggest monthly drop since October 2023.Gross domestic output shrank by a larger-than-expected 0.3% in April from March - the biggest monthly drop since October 2023 and more than the 0.1% fall forecast in a Reuters poll, following 0.2% growth in March.Finance Minister Rachel Reeves called the figures disappointing, just a day after presenting a multi-year £2 trillion spending plan. Immediate resistance can be seen at 1.3610(23.6%fib), an upside break can trigger rise towards 1.3733(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 strengthened on Thursday as a cocktail of rising Middle East tensions and concern over the fragility of a trade truce between Washington and Beijing weighed on greenback.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. Wednesday's consumer inflation index kept alive the prospect of the Federal Reserve cutting rates by a quarter point, but only in September, as policymakers assess how tariffs work their way through the real economy. The dollar, which has lost around 10% in value against a basket of currencies this year, fell to its lowest since April 2022 . At GMT 12:32, the Australian dollar was up 0.34% to 0.6522 against the dollar. 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
European shares fell for a fourth straight session on Thursday as rising geopolitical tensions dampened investor sentiment.
At GMT (12:22) UK's benchmark FTSE 100 was last trading up at 0.19 percent, Germany's Dax was down by 0.97 percent, France’s CAC was down by 0.42 percent.
Commodities Recap
Gold prices climbed 1% to a one-week high on Thursday, driven by rising Middle East tensions and ongoing trade uncertainty, boosting safe-haven demand.
Spot gold was up 0.9% at $3,382.61 an ounce as of 1123 GMT, after hitting its highest level since June 5 earlier in the day.
Oil prices slipped on Thursday, pulling back from sharp gains in the previous session, as traders weighed the U.S. move to withdraw personnel from the Middle East ahead of nuclear talks with Iran.
Brent crude futures were down $1.31, or 1.9%, at $68.46 a barrel at 1202 GMT, while U.S. West Texas Intermediate crude was $1.32, or 2%, lower at $66.83 a barrel.