Posted at 23 June 2025 / Categories Market Roundups
Market Roundup
• Japan au Jibun Bank Manufacturing PMI (Jun) 50.4, 49.5 forecast,49.4 previous
• Japan au Jibun Bank Services PMI (Jun) 51.5, 51.0 previous
Looking Ahead Economic Data(GMT)
• 07:30 HCOB Germany Composite PMI (Jun): 49.0, 49.0 forecast, 48.5 previous
• 07:30 HCOB Germany Manufacturing PMI (Jun): 48.9 forecast, 48.3 previous
• 07:30 HCOB Germany Services PMI (Jun): 47.8 forecast, 47.1 previous
• 08:00 Spanish Trade Balance (Apr): -5.48B previous
• 08:00 HCOB Eurozone Manufacturing PMI (Jun): 49.6 forecast, 49.4 previous
• 08:00 HCOB Eurozone Composite PMI (Jun): 50.5 forecast, 50.2 previous
• 08:00 HCOB Eurozone Services PMI (Jun): 50.0 forecast, 49.7 previous
• 08:30 UK S&P Global Composite PMI (Jun): 50.5 forecast, 50.3 previous
• 08:30 UK S&P Global Manufacturing PMI (Jun): 46.9 forecast, 46.4 previous
• 08:30 UK S&P Global Services PMI (Jun): 51.2 forecast, 50.9 previous
Looking Ahead Events And Other Releases(GMT)
• No significant events
Currency Forecast
EUR/USD: The euro edged higher on Monday as escalating geopolitical tensions in the Middle East dampened investor sentiment and fueled cautious trading. American forces carried out precision attacks on three of Iran’s key nuclear sites, marking a significant escalation in regional tensions. In response, Iran vowed to defend itself after the U.S. deployed 30,000-pound bunker-buster bombs targeting the mountain above the Fordow nuclear facility. While U.S. leaders urged Tehran to avoid retaliation, anti-war protests emerged across several American cities. In a potentially destabilizing move, Iran’s parliament approved the closure of the Strait of Hormuz a critical maritime chokepoint through which nearly 25% of global oil shipments pass. The heightened risk of conflict and supply disruption further boosted demand for the dollar. Immediate resistance can be seen at 1.1516(SMA9), an upside break can trigger rise towards 1.1607(38.2%fib).On the downside, immediate support is seen at 1.1500(38.2%fib), a break below could take the pair towards 1.1409(50%fib).
GBP/USD: The British pound edged higher against the U.S. dollar on Monday, despite a risk-off mood driven by escalating Middle East tensions, as markets repositioned amid safe-haven flows. Over the weekend, U.S. forces launched strikes on Iranian nuclear and military sites, prompting former President Donald Trump to suggest that regime change in Iran could be on the table. Senior U.S. officials also warned Tehran against retaliation. In response, Iran pledged to defend itself after the U.S. dropped massive bunker-buster bombs on the mountain above the Fordow nuclear facility. At the same time, missile exchanges between Iran and Israel continued, deepening fears of a wider regional conflict and further supporting demand for the dollar. Immediate resistance can be seen at 1.3597(23.6%fib), an upside break can trigger rise towards 1.3656(Higher BB).On the downside, immediate support is seen at 1.3396(38.2%fib).), a break below could take the pair towards 1.3350(Lower BB).
AUD/USD: The Australian dollar hit one month low against the U.S. dollar on Monday as escalating geopolitical tensions boosted demand for safe-haven dollar. The U.S. targeted key Iranian nuclear facilities over the weekend, marking a significant escalation in regional tensions. The strikes have raised alarm across the international community, fueling fears of a broader conflict in the Middle East and potential disruptions to global energy markets. The commodity-sensitive currencies often track global risk sentiment and tend to take a hit when equity markets slide. Looking ahead, Australia will publish the monthly inflation reading for May on Wednesday. Expectations are centred on an annual rise of 2.3%, slowing from a gain of 2.4% in April. Immediate resistance can be seen at 0.6443(38.2%fib), an upside break can trigger rise towards 0.6499(June 20th high).On the downside, immediate support is seen at 0.6391 (Lower BB), a break below could take the pair towards 0.6355(38.2%fib)..
USD/JPY: The U.S. dollar climbed to a five-month high against the Japanese yen on Monday as escalating Middle East tensions fueled demand for the greenback. Iran and Israel exchanged air and missile strikes on Monday, as global tensions rose over Tehran’s expected response to a U.S. attack on its nuclear facilities. Japan on Monday called for de-escalation of the conflict in Iran, while a South Korean vice industry minister voiced concern over the potential impact of the strikes on the country’s trade. On the data front, Japan’s manufacturing sector returned to growth in June for the first time in nearly a year, though demand remained uncertain amid concerns over U.S. tariffs and the global economic outlook, a private survey showed on Monday. The au Jibun Bank flash Japan Manufacturing PMI rose to 50.4 in June from May’s final reading of 49.4, marking the first expansion in 11 months after a prolonged period of contraction. Immediate resistance can be seen at 147.36 (Daily high)an upside break can trigger rise towards 148.91 (61.8%fib) .On the downside, immediate support is seen at 146.26(38.2%fib)a break below could take the pair towards 145.11(SMA 9).
Equities Recap
Asian shares traded mixed on Monday as investors anxiously waited to see if Iran would retaliate against U.S. attacks on its nuclear sites, with resulting risks to global activity and inflation..
Japan’s Nikkei 225 was down 0.01%, South Korea’s KOSPI was up 0.24% , China A50 was up 0.31%,Hang Seng was up by 0.62%.
Commodities Recap
Gold prices edged lower on Monday as investors flocked to the U.S. dollar in the wake of weekend strikes on key Iranian nuclear sites..
Spot gold was down 0.4% at $3,354.03 an ounce, as of 0532 GMT. U.S. gold futures fell 0.5% to $3,369.10.
Oil climbed sharply on Monday as investors anxiously waited to see if Iran would retaliate against U.S. attacks on its nuclear sites, with resulting risks to global activity and inflation.
Brent crude futures were up $1.52 or 1.97% to $78.53 a barrel as of 0503 GMT. U.S. West Texas Intermediate crude advanced $1.51 or 2.04% to $75.35.