Posted at 01 July 2025 / Categories Market Roundups
Market Roundup
• US S&P Global Manufacturing PMI (Jun): 52.9, 52.0 forecast, 52.0 previous
• US Construction Spending (MoM) (May): -0.3%, -0.2% forecast, -0.2% previous
• US ISM Manufacturing Employment (Jun): 45.0, 46.8 previous
• US ISM Manufacturing New Orders Index (Jun): 46.4, 47.6 previous
• US ISM Manufacturing PMI (Jun): 49.0, 48.8 forecast, 48.5 previous
• US ISM Manufacturing Prices (Jun): 69.7, 69.6 forecast, 69.4 previous
• US JOLTS Job Openings (May): 7.769M, 7.320M forecast, 7.395M previous
•US IBD/TIPP Economic Optimism (Jul): 48.6, 50.1 forecast, 49.2 previous
•US Dallas Fed Services Revenues (Jun): -4.1, -4.7 previous
•US Texas Services Sector Outlook (Jun): -4.4, -10.1 previous
•US Atlanta Fed GDPNow (Q2): 2.5%, 2.9% forecast, 2.9% previous
•US API Weekly Crude Oil Stock: -2.260M, -4.277M previous
Looking Ahead Economic Data(GMT)
• 23:00 Australia AIG Construction Index (Jun): -6.4 previous
• 23:00 Australia AIG Manufacturing Index (Jun): -23.5 previous
• 23:30 Japan Monetary Base (YoY) (Jun): -3.5% forecast, -3.4% previous
•01:30 Australia Building Approvals (YoY) (May): 5.10% previous
•01:30 Australia Building Approvals (MoM) (May): 5.0% forecast, -5.7% previous
•01:30 Australia Private House Approvals (May): 3.1% previous
•01:30 Australia Retail Sales (MoM) (May): 0.3% forecast, -0.1% previous
Looking Ahead Events And Other Releases (GMT)
•No Events Ahead
Currency Summaries
EUR/USD: The euro retreated slightly on Tuesday as the U.S. dollar trimmed earlier losses following stronger-than-expected U.S. employment data. The JOLTS report showed job openings rose by 374,000 to 7.769 million in May, though a decline in hiring signaled a possible slowdown in the labor market.Separately, U.S. data showed manufacturing remained in contraction territory in June, according to the Institute for Supply Management (ISM). In U.S. politics, the Republican-led Senate passed President Donald Trump's tax and spending bill, a sweeping measure that includes many of his key priorities and would add $3.3 trillion to the national debt. The legislation now moves to the House for final approval. The euro was last trading 0.13% to $1.18020 after rising slightly earlier in the session .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: Sterling edged lower versus the U.S. dollar on Tuesday as dovish remarks from BoE Governor Bailey pressured the pound. Bank of England Governor Andrew Bailey on Tuesday pointed to growing weakness in the UK labour market and rising global uncertainty as key factors weighing on economic growth and investment. In an interview with CNBC, Bailey said the BoE is closely monitoring how much the softening economy and job market could help ease inflationary pressures. He placed greater emphasis on downside risks to the economy rather than inflation threats, though he noted the central bank is watching very carefully for any signs that recent price increases could become more persistent. The sterling reversed earlier gains. It was last down 0.01% to $1.3746 against the dollar. 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).
USD/CAD: The Canadian dollar weakened on Tuesday as investors evaluated the ramifications of U.S. President Donald Trump's tax reform package surviving a critical Senate vote, while trade discussions with the U.S. remained in focus. The plan would codify many of Trump's domestic policies into law while adding $3.3 trillion to the national debt. Investors were also eagerly monitoring for any movement on the global trade front, as Trump's July 9 tariff deadline neared. In the latest on the topic, Trump said he was not thinking of extending the July 9 deadline for nations to negotiate trade accords with the U.S., and continued to voice uncertainty that an agreement could be achieved with Japan. Meanwhile, Investors will keenly await Thursday's major government payrolls data, coming a day earlier than normal owing to the Independence Day vacation on July 4, to help shape expectations for rate reduction from the Fed. Immediate resistance can be seen at 1.3753(Daily high), an upside break can trigger rise towards 1.3828 (38.2% fib).On the downside, immediate support is seen at 1.3685(23.6% fib), a break below could take the pair towards 1.3661(Lower BB).
USD/JPY: The U.S. dollar trimmed losses versus yen on Tuesday as data showed a better-than-expected increase in labor market demand, signaling the Federal Reserve would likely take its time to lower interest rates. U.S. job vacancies surprisingly surged in May, but a fall in hiring contributed to evidence that the labor market had slipped into lower gear amid uncertainty about the Trump administration's tariffs on imports, with a 90-day delay on harsher reciprocal levies coming to an end.Job vacancies, a measure of labor demand, were up 374,000 to 7.769 million on the final day of May, the Labor Department's Bureau of Labor Statistics reported in its Job vacancies and Labor Turnover Survey, or JOLTS report. Economists had predicted 7.30 million vacancies. 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 slipped slightly on Tuesday, led lower by industrials and banks as traders stayed cautious ahead of the looming July tariff deadline and U.S. tax bill talks.
UK's benchmark FTSE 100 closed up by 0.28 percent, Germany's Dax ended down by 0.80 percent, France’s CAC finished the day down by 0.04 percent.
The Nasdaq and S&P 500 ended lower on Tuesday, weighed down by losses in major tech stocks, while the Dow closed higher amid choppy trading and seasonally low market liquidity.
Dow Jones closed up by 0.91% percent, S&P 500 closed down by 0.11% percent, Nasdaq settled down by 0.82% percent.
Commodities Recap
Gold rose over 1% on Tuesday as investors turned to safe-haven assets following the Senate’s passage of President Donald Trump’s "big, beautiful bill," with the July 9 trade tariff deadline approaching.
Spot gold rose 1.1% to $3,338.24 per ounce, as of 2:25 p.m. EDT (1825 GMT), its highest level since June 24. U.S. gold futures settled 1.3% higher at $3,349.8.
Oil prices inched up on Tuesday as investors weighed signs of stronger demand while awaiting the outcome of an upcoming OPEC+ meeting on August production plans.
Brent crude settled up 37 cents, or 0.6%, at $67.11 a barrel, while U.S. West Texas Intermediate crude settled 34 cents higher, or up around 0.5%, at $65.45 a barrel.