Posted at 24 June 2025 / Categories Market Roundups
Market Roundup
• New Zealand Credit Card Spending (YoY) (May) 2.2%, 0.5% previous
•Japan BoJ Core CPI (YoY) 2.5%, 2.5%forecst,2.4% previous
•Finnish Export Price Index (YoY) (May) -2.3%, -1.4% previous
•Finnish Import Price Index (YoY) (May) -3.1%, -3.4% previous
•Finnish PPI (YoY) (May) -2.0%,-1.1% previous
• German Business Expectations (Jun) 90.7, 90.0 forecast,88.9 previous
• German Current Assessment (Jun) 86.2, 86.5 forecast, 86.1 previous
• German Ifo Business Climate Index (Jun) 88.4 ,88.1 forecast, 87.5 previous
Looking Ahead Economic Data(GMT)
•09:30 German 2-Year Schatz Auction 1.780% previous
•10:00 UK CBI Industrial Trends Orders (Jun) -28 forecast,-30 previous
Looking Ahead Events And Other Releases(GMT)
• 09:00 German Buba Mauderer Speaks
• 07:30 BoE Gov Bailey Speaks
Currency Forecast
EUR/USD: The euro rose on Tuesday as dollar fell after U.S. President Donald Trump announced late on Monday that Iran and Israel had agreed to a ceasefire. His announcement came after Iran had fired a fresh wave of missiles, killing four people, according to Israel's ambulance service, and as Iranian authorities reported nine people killed in an attack in northern Iran on Tuesday morning. A senior White House official said Trump had brokered the ceasefire deal in a call with Netanyahu and Israel had agreed so long as Iran did not start further attacks.An Iranian source earlier confirmed that Tehran had agreed to a ceasefire, but the country's foreign minister said there would be no cessation of hostilities unless Israel stopped its attacks. The euro rose 0.23% to $1.1605 Immediate resistance can be seen at 1.1632(23.6%fib), an upside break can trigger rise towards 1.1683(Higher BB).On the downside, immediate support is seen at 1.1471(20 SMA), a break below could take the pair towards 1.1431(38.2%fib).
GBP/USD: The British pound rose on Tuesday as the dollar fell following the implementation of a cease-fire to terminate a 12-day war between Iran and Israel. U.S. President Donald Trump announced on Tuesday that a cease-fire between Israel and Iran had been established and asked both sides not to breach it, bolstering hopes for an end to the 12-day war despite reports of deadly attacks in both nations. Israeli Prime Minister Benjamin Netanyahu said Israel has agreed to Trump's cease-fire plan, saying that it had achieved its goal of removing Iran's nuclear and ballistic missile danger but warning that any violations would be met with force, according to his office. Investor attention is also on U.S. Federal Reserve Chair Jerome Powell's upcoming testimony before Congress later in the day. Sterling advanced 0.27% to $1.3564. Immediate resistance can be seen at 1.3614(23.6%fib), an upside break can trigger rise towards 1.3662(Higher BB).On the downside, immediate support is seen at 1.3517(SMA 20), a break below could take the pair towards 1.3418(38.2%fib).
AUD/USD: The Australian dollar bounced from five-week low on Tuesday as news of a ceasefire between Israel and Iran declared by President Trump spurred risk surge. Trump said that a "complete and total" truce between Israel and Iran will take effect, attempting to end the 12-day battle, just after both nations issued fresh threats of reprisal. The Aussie currency staged a strong rally to $0.6491, recovering from a five-week low of $0.6373 touched overnight, as risk sentiment recovered. Commodity-sensitive currencies display a significant association with global risk sentiment and are prone to volatility amid geopolitical developments. Looking ahead, Australia will publish the 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 0.6540(23.6%fib), an upside break can trigger rise towards 0.6564(Higher BB).On the downside, immediate support is seen at 0.6440 (38.2%fib), a break below could take the pair towards 0.6413(Lower BB).
USD/JPY: The U.S. dollar declined toward 145.00 level against the Japanese yen on Tuesday as dollar weakened after U.S. President Donald Trump announced a ceasefire between Israel and Iran.Trump declared a full ceasefire between Israel and Iran, aiming to end a 12-day conflict that displaced millions and sparked fears of broader war.The dollar, which was buoyed by safe-haven demand last week, fell broadly after the ceasefire news, while oil prices tumbled to their lowest level in more than a week.Adding to the dollar’s weakness were dovish remarks from Federal Reserve official Michelle Bowman, who suggested that the central bank should consider cutting interest rates in the near future.Federal Reserve Chair Jerome Powell is scheduled to testify before the U.S. Congress on Tuesday and Wednesday, with markets closely watching for clues on the future path of interest rates .Immediate resistance can be seen at 145.55 (50%fib)an upside break can trigger rise towards 146.78 (Higher BB) .On the downside, immediate support is seen at 144.51(SMA 20)a break below could take the pair towards 143.15(38.2%fib).
Equities Recap
Asian shares rose on Tuesday, as investors returned to risk assets after U.S. President Donald Trump's promise of a ceasefire between Israel and Iran spurred a relief rally.
China A50 was up 1.12% , South Korea's KOSPI was up 2.96%,Hang Seng was up by 2.05%.
Commodities Recap
Oil prices hit their lowest in two weeks on Tuesday after Israel agreed to U.S. President Donald Trump's plan for a ceasefire with Iran, soothing worries of supply disruptions in the Middle East -a major oil-producing region.
Brent crude futures were down $3.82, or 5.3%, at $67.66 a barrel at 0645 GMT. U.S. West Texas Intermediate crude fell $3.75, or 5.5%, to $64.76 per barrel..
Gold prices fell more than 1% to a near two-week low on Tuesday as risk appetite increased after a ceasefire came into force to halt a 12-day war between Iran and Israel, denting demand for safe-haven assets.
Spot gold was down 1.4% at $3,319.84 an ounce, as of 0639 GMT, its lowest level since June 11.