Posted at 01 July 2025 / Categories Market Roundups
Market Roundup
•HCOB France Manufacturing PMI (Jun): 48.1, 47.8 forecast, 49.8 previous
•HCOB Germany Manufacturing PMI (Jun): 49.0, 49.0 forecast, 48.3 previous
•German Unemployment Change (Jun): 11K, 18K forecast, 33K previous
•German Unemployment Rate (Jun): 6.3%, 6.4% forecast, 6.3% previous
•German Unemployment (Jun): 2.972M, no forecast, 2.963M previous
•German Unemployment n.s.a. (Jun): 2.914M, no forecast, 2.919M previous
•S&P Global Greece Manufacturing PMI (Jun): 53.1, no forecast, 53.2 previous
•HCOB Eurozone Manufacturing PMI (Jun): 49.5, 49.4 forecast, 49.4 previous
•S&P Global UK Manufacturing PMI (Jun): 47.7, 47.7 forecast, 46.4 previous
•Eurozone Core CPI (YoY) (Jun): 2.3%, 2.3% forecast, 2.3% previous
•Eurozone Core CPI (MoM) (Jun): 0.4%, 0.0% previous
•Eurozone CPI (YoY) (Jun): 2.0%, 2.0% forecast, 1.9% previous
•Eurozone CPI (MoM) (Jun): 0.3%, 0.0% previous
•Eurozone CPI n.s.a (Jun): 129.07, 128.71 previous
•Eurozone HICP ex Energy & Food (YoY) (Jun): 2.4%, 2.4% previous
•Eurozone HICP ex Energy and Food (MoM) (Jun): 0.3%, 0.1% previous
Looking Ahead Economic Data(GMT)
•13:45 US S&P Global Manufacturing PMI (Jun): 52.0 forecast, 52.0 previous
•14:00 US Construction Spending (MoM) (May): -0.2% forecast, -0.4% previous
•14:00 US ISM Manufacturing PMI (Jun): 48.8 forecast, 48.5 previous
• 14:00 US ISM Manufacturing Prices (Jun): 69.6 forecast, 69.4 previous
• 14:00 US JOLTS Job Openings (May): 7.320M forecast, 7.391M previous
• 14:10 US IBD/TIPP Economic Optimism (Jul): 50.1 forecast, 49.2 previous
• 14:00 US ISM Manufacturing Employment (Jun): 46.8 previous
• 14:00 US ISM Manufacturing New Orders Index (Jun): 47.6 previous
• 14:30 US Dallas Fed Services Revenues (Jun): -4.7 previous
• 14:30US Texas Services Sector Outlook (Jun): -10.1 previous
•15:00 New Zealand GlobalDairyTrade Price Index -1.0% previous
•15:00 US Milk Auctions 4,389.0 previous
•17:00 US Atlanta Fed GDPNow (Q2) 2.9% forecast, 2.9% previous
Looking Ahead Economic Data(GMT)
•13:30 UK BoE Gov Bailey Speaks
•13:30 US Fed Chair Powell Speaks
•13:30 Japan BOJ Gov Ueda Speaks
•13:30 ECB President Lagarde Speaks
Currency Summaries
EUR/USD: The euro held firm on Tuesday as U.S. dollar declined ahead of a vote over U.S. President Donald Trump's landmark tax-cut and spending legislation. Investors are grappling with uncertainty over the U.S. Senate's efforts to pass Trump's tax-cut and spending bill, which faces internal party divisions over its projected $3.3 trillion addition to the national debt. The fiscal concerns have dampened sentiment and prompted some investors to diversify. On the data front, Eurozone manufacturing contracted more slowly in June, as output grew steadily and new orders stabilized, ending a 37-month decline. The HCOB PMI rose slightly to 49.5 from 49.4, marking its highest reading since August 2022. The euro gained 0.01% to $1.1782.Immediate resistance can be seen at 1.1807(23.6%fib), an upside break can trigger rise towards 1.1852(Higher BB).On the downside, immediate support is seen at 1.1711(June 30th low), a break below could take the pair towards 1.1621(38.2%fib).
GBP/USD: The British pound firmed on Tuesday as the U.S. dollar remained under pressure as markets awaited a vote over U.S. President Donald Trump's landmark tax and spending legislation. Senate Republicans pressed ahead early Tuesday to pass Trump’s massive tax and spending bill, despite internal party disagreements over its $3.3 trillion impact on the national debt. The chamber was locked in a marathon “vote-a-rama” session, with numerous amendments debated under a special process to bypass the usual 60-vote requirement. On the data front, UK manufacturing showed tentative signs of recovery in June, with firms raising prices to cover rising labour costs, according to S&P Global/CIPS. The PMI rose to 47.7 from May’s 46.4 but stayed below the 50.0 growth mark for a ninth straight month. Immediate resistance can be seen at 1.3770(June 26th high), an upside break can trigger rise towards 1.3808(Higher BB).On the downside, immediate support is seen at 1.3613(38.2%fib), a break below could take the pair towards 1.3548(SMA 20).
AUD/USD: The Australian dollar edged higher on Tuesday as U.S. fiscal concerns and ongoing trade deal uncertainty weighed on US dollar. Investors face uncertainty over the U.S. Senate's push to pass Trump's tax-cut and spending bill, amid party divisions over its projected $3.3 trillion debt impact.Trump’s looming tariff deadline is driving investor focus on trade diplomacy, although negotiations have yielded limited results. On the economic front, growth in Australia’s manufacturing sector cooled in June, as the PMI ticked down to 50.6 from 51.0, S&P Global reported. Looking ahead ,Australian retail sales data is due Wednesday, forecasts point to a 0.4% increase, but bank analysts see room for a stronger number. Immediate resistance can be seen at 00.6643(Nov 4th high), an upside break can trigger rise towards 0.6696(23.6%fib).On the downside, immediate support is seen at 0.6557(38.2%fib), a break below could take the pair towards 0.6517(SMA 9).
USD/JPY: The U.S. dollar dipped against yen on Tuesday as dollar was dragged down by worries over U.S. President Donald Trump's spending bill. Investors remain cautious as the U.S. Senate struggles to pass Trump’s tax and spending bill, which is facing pushback over its projected $3.3 trillion debt impact. The Congressional Budget Office on Sunday estimated the Senate’s version of the bill would add $3.3 trillion to the $36.2 trillion U.S. debt, $800 billion more than the House-passed version. Powell’s speech at the ECB’s Sintra forum will be closely scrutinized, as markets anticipate 67bps of Fed cuts this year. Meanwhile, A private survey showed Tuesday that Japan's manufacturing activity expanded in June for the first time in 13 months. Japan’s final au Jibun Bank Manufacturing PMI climbed to 50.1 in June, up from 49.4 in May. The U.S. currency slumped 0.5% to 143.90 yen. Immediate resistance can be seen at 144.12 (Daily high)an upside break can trigger rise towards 144.74(50%fib) .On the downside, immediate support is seen at 143.04(Lower BB)a break below could take the pair towards 142.35(38.2%fib).
Equities Recap
European stocks dipped in volatile trading Tuesday, extending caution after June’s losses as uncertainty over U.S. trade negotiations lingered.
At GMT (12:21) UK's benchmark FTSE 100 was last trading down at 0.28 percent, Germany's Dax was down by 0.83percent, France’s CAC was down by 0.49 percent.
Commodities Recap
Gold prices climbed more than 1% on Tuesday, supported by a softer dollar and rising worries over U.S. tariffs and fiscal stability.
Spot gold climbed 1.4% to $3,349.32 an ounce by 1203 GMT while U.S. gold futures jumped 1.6% to $3,361.70.
Oil prices inched higher on Tuesday as investors weighed prospects of an OPEC+ output increase in August and ongoing trade talks.
Brent crude was up 54 cents, or 0.8%, to $67.28 a barrel at 1133 GMT, while U.S. West Texas Intermediate crude was up 56 cents, or 0.9%, to $65.67 a barrel.