Posted at 18 June 2025 / Categories Market Roundups
Market Roundup
• US Building Permits (MoM) (May): -2.0%, -4.0% previous
• US Building Permits (May): 1.393M, 1.420M forecast, 1.422M previous
• US Continuing Jobless Claims: 1.945M, 1.940M forecast, 1.951M previous
• US Housing Starts (MoM) (May): -9.8%, 2.7% previous
• US Housing Starts (May): 1.256M, 1.350M forecast, 1.392M previous
• US Initial Jobless Claims: 245K, 246K forecast, 250K previous
• US Jobless Claims 4-Week Avg.: 245.50K, 240.75K previous
• US Crude Oil Inventories: -11.473M, -2.300M forecast, -3.644M previous
• US EIA Refinery Crude Runs (WoW): -0.364M, 0.228M previous
• US Crude Oil Imports: -1.747M, 0.451M previous
• US Cushing Crude Oil Inventories: -0.995M, -0.403M previous
• US 4-Week Bill Auction: 4.060%, 4.080% previous
• US 8-Week Bill Auction: 4.470%, 4.380% previous
• US Atlanta Fed GDPNow (Q2): 3.4%, 3.5% forecast, 3.5% previous
• US Natural Gas Storage: 95B, 96B forecast, 109B previous
Looking Ahead Economic Data(GMT)
•23:50 Japan Foreign Bonds Buying: -458.6B
•23:50 Japan Foreign Investments in Japanese Stocks: 180.2B
•01:30 Australia Employment Change (May): 20.6K forecast, 89.0K forecast
•01:30 Australia Full Employment Change (May): 59.5K previous
•01:30 Australia Participation Rate (May): 67.1% forecast, 67.1% forecast
•01:30 Australia Reserve Assets Total (May): 103.8B previous
•01:30 Australia Unemployment Rate (May): 4.1%forecast, 4.1% previous
•01:30 Japan 5-Year JGB Auction: 0.980% previous
Looking Events And Other Releases Data(GMT)
•No Events Ahead
Currency Forecast
EUR/USD: The euro slipped lower against the U.S. dollar on Wednesday after the U.S. central bank held interest rates steady on Wednesday. In a much-anticipated address, Federal Reserve Chair Jerome Powell said the Fed expects goods prices for U.S. consumers to go up over the course of the summer under pressure from President Donald Trump's tariffs.The Fed's update earlier in the day signalled borrowing costs were still likely to fall this year, but that future cuts would proceed a little more slowly.Powell has insisted the Fed's moves are based on data. He cautioned on Wednesday not to place too much stock in the forecasts, which could change as more readings come in.Geopolitics remained in focus as Iranian Supreme Leader Ayatollah Ali Khamenei rejected Trump's demand for unconditional surrender, and Trump said his patience had run out but did not indicate his next step. Immediate resistance can be seen at 1.1611(23.6%fib), an upside break can trigger rise towards 1.1678(Higher BB).On the downside, immediate support is seen at 1.1372(38.2%fib), a break below could take the pair towards 1.1191(50%fib).
GBP/USD: The British pound edged lower on Wednesday as investors digested UK inflation data and looked ahead BoE rate decision. The Office for National Statistics reported on Wednesday that UK consumer prices rose 3.4% year-on-year in May, matching forecasts and slightly down from 3.5% in April. All eyes are on the Bank of England’s meeting this Thursday, with markets anticipating a rate hold following signs of easing inflation in May. The BoE lowered rates by a quarter point to 4.25% on May 8 in a three-way split vote, with two Monetary Policy Committee members favouring a bigger cut and two favouring a hold. The central bank said in May it expects inflation to peak at about 3.7% later this year. Some economists think April might prove to be the high point, although the conflict in the Middle East poses a risk of stronger price pressure. Immediate resistance can be seen at 1.3599(23.6%fib), an upside break can trigger rise towards 1.3686(Higher BB).On the downside, immediate support is seen at 1.3403(38.2%fib), a break below could take the pair towards 1.3363(Lower BB).
USD/CAD: The Canadian dollar edged lower versus its U.S. counterpart on Wednesday after Fed Chair Jerome Powell delivered optimistic remarks about the U.S. economy, while also acknowledging ongoing concerns about the inflationary impact of tariffs.Powell said that the U.S. central bank could justify any projected rate path, but with a strong labor market and falling inflation, holding rates is the right move. He added that while the job market may cool slowly, there’s nothing concerning in the data and that tariffs introduce uncertainty around inflation projections.As expected, Fed officials held interest rates steady on Wednesday and still anticipate rate cuts later this year, though they signaled fewer reductions ahead due to inflation risks tied to proposed tariffs. The Bank of Canada Governor Tiff Macklem said new Canada-U.S. trade deal offers hope that tariffs will be removed, but cautioned that inflation could rise if tariffs stayed in place. Immediate resistance can be seen at 1.3712(38.2% fib), an upside break can trigger rise towards 1.3855 (50% fib).On the downside, immediate support is seen at 1.3538(23.6% fib), a break below could take the pair towards 1.3506(Lower BB).
USD/JPY: The U.S. dollar initially dipped but recovered some ground against the Japanese yen on Wednesday after the Federal Reserve held interest rates steady as economic uncertainty and tariffs continue to paint a murky outlook. The uptick in the greenback came as markets reacted to the Fed’s cautious tone and revised economic projections, which suggested fewer rate cuts ahead than previously anticipated. While the central bank signaled that rate cuts remain on the table, the murky economic outlook and persistent global risks kept investors leaning toward the safe-haven dollar. On the data front, weekly jobless claims declined last week though remained consistent with softening economic activity, while future construction of single-family housing fell to a two-year low in May.The greenback was last down 0.3% against yen 144.79 yen. Immediate resistance can be seen at 145.74 (38.2%fib)an upside break can trigger rise towards 146.53 (Higher BB) .On the downside, immediate support is seen at 142.38(23.6%fib)a break below could take the pair towards 141.50(Lower BB)
Equities Recap
European equities slipped on Wednesday as investors held back ahead of the Federal Reserve’s policy announcement, while persistent Middle East tensions heightened market unease.
UK's benchmark FTSE 100 closed up by 0.11 percent, Germany's Dax ended down by 0.50 percent, France’s CAC finished the day down by 0.36 percent.
The S&P?500 closed almost unchanged on Wednesday, relinquishing earlier gains after Fed Chair Jerome Powell warned that goods-price inflation is likely to rise this summer as President Trump’s tariffs ripple through to consumers.
Dow Jones traded down at 0.10% percent, S&P 500 closed down by 0.03% percent, Nasdaq settled up by 0.13% percent.
Commodities Recap
Oil prices closed higher on Wednesday amid volatility as markets weighed supply risks from the Iran–Israel conflict and possible U.S. intervention.
Brent crude futures settled 25 cents higher at $76.70 a barrel. U.S. West Texas Intermediate crude rose 30 cents at $75.14. Earlier in the session, prices were down around 2%. On Tuesday, prices jumped over 4%.
Gold prices eased on Wednesday after the Fed kept rates unchanged, tempered expectations for future cuts, and Chair Powell cautioned that inflation is likely to pick up in the coming months.
Spot gold was down 0.4% at $3,374.75 an ounce by 3:19 p.m. EDT (1919 GMT). U.S. gold futures settled 0.03% higher at $3,408.1.