Posted at 25 June 2025 / Categories Market Roundups
Market Roundup
• Australia Weighted mean CPI (YoY) (May) 2.10%, 2.30% forecast, 2.40% previous
•New Zealand Imports (May) 6.44B, 6.41B previous
•New Zealand Trade Balance (YoY) (May) -3,790M,-4,970M previous
•New Zealand Trade Balance (MoM) (May) 1,235M, 1,060M forecast, 1,285M previous
•Japan Corporate Services Price Index (CSPI) (YoY) 3.3%,3.1% forecast ,3.4% previous
• Japan Coincident Indicator (MoM) (Apr) 0.2%, -0.3% forecast, -1.4% previous
• Japan Leading Index (MoM) (Apr) -3.4%, -4.2% forecast, -0.1% previous
• Japan Leading Index (Apr) 104.2, 103.4 forecast, 108.1 previous
Looking Ahead Economic Data(GMT)
•07:00 Spanish GDP (QoQ) (Q1) 0.6% forecast, 0.7% previous
•07:00 Spanish GDP (YoY) (Q1) 2.8% forecast,3.3% previous
•07:00 Spanish PPI (YoY) (May) 1.9% previous
•09:30 Italian 2-Years CTZ Auction 2.010% previous
• 10:00 France Jobseekers Total (May) 3,013.0K previous
Looking Ahead Events And Other Releases(GMT)
•No Events Ahead
Currency Forecast
EUR/USD: The euro held steady against the U.S. dollar on Wednesday as investors closely tracked the fragile ceasefire between Israel and Iran. The truce, brokered by U.S. President Donald Trump, appeared to be holding, with both nations signaling a pause in hostilities after days of aerial conflict, bringing a measure of calm to global markets. Data showed that U.S. consumer confidence unexpectedly deteriorated in June, signalling softening labour market conditions. Meanwhile, Federal Reserve Chair Jerome Powell said on Tuesday that higher tariffs could begin raising inflation this summer, a period that will be key to the U.S. central bank considering possible interest rate cuts. Powell spoke at a hearing before the House Financial Services Committee. Markets continue to price in a roughly 18% chance that the Fed will cut rates in July, according to the CME FedWatch tool. The euro rose 0.1% to $1.1625 on Wednesday, edging closer to its overnight peak of $1.1641,its highest level since October 2021. 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 strengthened against dollar on Wednesdays as a fragile ceasefire between Israel and Iran supported risk appetite and provided relief after days of geopolitical tension. Markets welcomed a fragile truce between Israel and Iran, even as tensions lingered after Israel warned of a forceful response to Iranian missile strikes that followed U.S. President Donald Trump's ceasefire announcement. Investors also digested comments from Federal Reserve Chair Jerome Powell, who maintained a cautious outlook and signalled patience on rate cuts. The dollar index weakened 0.05% against a basket of currencies, as markets reacted to the ceasefire news with improved risk appetite. Sterling firmed by 0.08% to $1.3624. Immediate resistance can be seen at 1.3641(23.6%fib), an upside break can trigger rise towards 1.3674(Higher BB).On the downside, immediate support is seen at 1.3523(SMA 20), a break below could take the pair towards 1.3443(38.2%fib).
AUD/USD: The Australian dollar held firm on Wednesday as improved risk appetite resulting from the ongoing Israel-Iran ceasefire mitigated the impact of weaker-than-expected Australian inflation figures.The ceasefire negotiated by U.S. President Donald Trump between Iran and Israel remained intact on Tuesday, as both nations declared victory following 12 days of intense conflict. Australia’s monthly consumer price index fell by 0.4% in May, bringing the annual inflation rate down to 2.1%—below market expectations of 2.3%.The trimmed mean measure of core inflation fell significantly to 2.4% in May, recording its lowest level since late 2021 and sliding below the midpoint of the Reserve Bank of Australia's 2–3% target range.The weaker-than-anticipated inflation data has bolstered market expectations that the Reserve Bank of Australia (RBA) will adopt a more accommodative posture at its impending policy meeting on July 8. 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 inched higher against the Japanese yen on Wednesday, as markets closely monitored developments surrounding the fragile ceasefire between Israel and Iran. The easing of geopolitical tensions prompted a partial unwinding of safe-haven demand, which had previously favored the yen. Although the ceasefire brought a sense of serenity to global markets, concerns persisted over its sustainability, keeping risk sentiment cautious. Meanwhile, investors also considered the potential implications for oil markets and regional stability, both of which could influence broader currency movements in the days ahead. The U.S. dollar index , which measures the currency against six major counterparts, slipped 0.05% to 97.92.The dollar edged up 0.08% to 145.06 . Immediate resistance can be seen at 145.18 (38.2%fib)an upside break can trigger rise towards 146.40 (Higher BB) .On the downside, immediate support is seen at 142.81(Lower BB)a break below could take the pair towards 140.79(23.6%fib).
Equities Recap
Asian shares rose modestly as a ceasefire between Israel and Iran buoyed sentiment, even as hostilities threatened to flare up again.
South Korea’s KOSPI was up 0.22% , China A50 was up 0.25%,Hang Seng was up by 0.84%.
Commodities Recap
Gold prices crept up on Wednesday, boosted by a retreat in the US dollar and Treasury rates, as investors watched the tenuous ceasefire between Israel and Iran.
Spot gold was up 0.1% at $3,328.18 per ounce, as of 0425 GMT, after hitting on Tuesday its lowest level in more than two weeks.
Oil prices edged higher on Wednesday as markets evaluated the stability of the Iran-Israel truce, though gains were limited with prices hovering near multi-week lows amid expectations that petroleum supply channels would remain unaffected.
Brent crude futures rose 85 cents, or 1.3%, to $67.99 a barrel at 0341 GMT, while U.S. West Texas Intermediate (WTI) crude gained 87 cents, or 1.4%, to $65.24.