Posted at 24 June 2025 / Categories Market Roundups
Market Roundup
• German Business Expectations (Jun): 90.7, 90.0 forecast, 89.0 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
• German 2-Year Schatz Auction: 1.850%, 1.780% previous
•Uk CBI Industrial Trends Orders (Jun): -33, -28 forecast, -30 previous
Looking Ahead Economic Data(GMT)
•12:30 US Current Account (Q1): -448.0B forecast, -303.9B previous
•13:00 Canada Common CPI (YoY) (May): 2.4%, 2.5% previous
•13:00 Canada Core CPI (MoM) (May): 0.5% previous
•13:00 Canada Core CPI (YoY) (May): 2.5% previous
•13:00 Canada CPI (MoM) (May): 0.5%, -0.1% previous
•13:00 Canada CPI (YoY) (May): 1.7%, 1.7% previous
•13:00 Canada Manufacturing Sales (MoM) (May): -2.8% previous
•13:00 C Canada Median CPI (YoY) (May): 3.0% forecast, 3.2% previous
•13:00 Canada Trimmed CPI (YoY) (May): 3.0% forecast, 3.1% previous
•13:25 US Redbook (YoY): 5.2% previous
•13:30 US House Price Index (MoM) (Apr): 0.1% forecast, -0.1% previous
•13:30 US House Price Index (YoY) (Apr): 3.7% previous
•13:30 US House Price Index (Apr): 436.6 previous
•13:30 US S&P/CS HPI Composite - 20 s.a. (MoM) (Apr): -0.1% previous
•13:30 US S&P/CS HPI Composite - 20 n.s.a. (MoM) (Apr): 1.1% previous
•13:30 US S&P/CS HPI Composite - 20 n.s.a. (YoY) (Apr): 4.0% forecast, 4.1% previous
•13:30 Belgium NBB Business Climate (Jun): -13.1 forecast, -13.5 previous
•14:00 US CB Consumer Confidence (Jun): 99.4 forecast, 98.0 previous
•14:00 US Richmond Manufacturing Index (Jun): -10 forecast, -9 previous
•14:00 US Richmond Manufacturing Shipments (Jun): -10 previous
•14:00 USD Richmond Services Index (Jun): -11 previous
Looking Ahead Events And Other Releases(GMT)
•13:30 ECB President Lagarde Speaks
•13:35 UK MPC Member Ramsden Speaks
•13:55 EU ECB's Lane Speaks
•14:00 UK BoE Gov Bailey Speaks
•14:00 US Fed Chair Powell Testifies
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 0.22% to $1.1601 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 U.S. dollar weakened following the announcement of a ceasefire to end the 12-day conflict between Iran and Israel. U.S. President Donald Trump confirmed the truce and urged both nations to uphold it, raising hopes for lasting de-escalation despite reports of continued violence.Israeli Prime Minister Benjamin Netanyahu stated that Israel accepted the ceasefire plan, claiming it had neutralized Iran’s nuclear and missile threat. However, he warned that any violations would trigger a forceful response.Meanwhile, investors are focused on Federal Reserve Chair Jerome Powell’s testimony before Congress later in the day, seeking clues on the U.S. rate outlook. Sterling advanced 0.59% to $1.3604. 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 rebounded from a five-week low on Tuesday after U.S. President Trump announced a “complete and total” ceasefire between Israel and Iran, boosting global risk sentiment. The truce aims to end the 12-day conflict, even as both sides had recently issued new threats.The Aussie surged to $0.6491, recovering from an overnight low of $0.6373, as the risk-sensitive currency benefited from improved market mood. Commodity-linked currencies like the AUD are closely tied to global risk appetite and tend to be volatile during geopolitical tensions.Looking ahead, attention turns to Australia’s May inflation data due Wednesday. Analysts expect a slight cooling, with annual CPI forecast at 2.3%, down from 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 weakened toward the 145.00 level against the Japanese yen on Tuesday after President Donald Trump announced a ceasefire between Israel and Iran, aiming to end a 12-day conflict that had displaced millions and raised fears of a wider war.The dollar, which had gained last week on safe-haven demand, slipped broadly following the truce announcement. Oil prices also dropped to their lowest levels in over a week amid easing geopolitical tensions.Further pressuring the dollar were dovish comments from Fed Governor Michelle Bowman, who said the central bank should consider rate cuts soon. Investor focus now turns to Fed Chair Jerome Powell’s testimony before Congress on Tuesday and Wednesday, as markets seek signals on the Fed’s policy direction.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
European shares jumped on Tuesday as risk appetite improved following President Trump's announcement of a ceasefire between Iran and Israel after 12 days of conflict.
At GMT (12:22) UK's benchmark FTSE 100 was last trading up at 0.35 percent, Germany's Dax was up by 1.81 percent, France’s CAC was up by 1.26 percent.
Commodities Recap
Gold fell over 1% to a two-week low on Tuesday after President Trump’s Israel-Iran ceasefire announcement reduced demand for the safe-haven asset.
Spot gold was down 1.4% at $3,322.09 an ounce, as of 1142 GMT, after hitting its lowest level since June 11 earlier in the session.
Oil prices fell to a two-week low on Tuesday, as easing fears of Middle East supply disruptions weighed on the market, despite President Trump accusing both Israel and Iran of violating the ceasefire he brokered.
Brent crude futures were down $2.56, or 3.6%, at $68.92 a barrel by 1201 GMT. U.S. West Texas Intermediate crude fell $2.45, also 3.6%, to $66.06.