Posted at 08 July 2025 / Categories Market Roundups
Market Roundup
• French 12-Month BTF Auction 1.892% , 1.918% previous
• French 3-Month BTF Auction 1.924% , 1.957% previous
• French 6-Month BTF Auction 1.903%, 1.949% previous
• US CB Employment Trends Index (Jun) 107.83forecast,107.83 previous
• US Budget Balance % of GDP (Jun) -1.70%,-1.50% previous
• US 3-Month Bill Auction 4.255%, 4.250% previous
• US 6-Month Bill Auction 4.145%, 4.150% previous
Looking Ahead Economic Data(GMT)
• 23:50 Japan Adjusted Current Account (May) 2.58Tforecast,2.31T previous
• 23:50 Japan Bank Lending (YoY) (Jun) 2.3%forecast,2.4% previous
• 23:50 Japan Current Account n.s.a. (May) 2.940T forecast,2.258Tprevious
• 01:30 Australia NAB Business Confidence (Jun) 2 previous
• 01:30 Australia NAB Business Survey (Jun) 0 previous
• 03:35 Japan -Year JGB Auction 0.982% previous
Looking Ahead Events And Other Releases(GMT)
•04:30 Australia RBA Interest Rate Decision (Jul) 3.60% forecast,3.85% previous
Currency Forecast
EUR/USD: The euro eased on Monday as dollar gained after U.S. President Donald Trump unveiled sharply higher U.S. tariffs on goods from Japan, South Korea and other countries in the latest development in the U.S. trade war. Trump on Monday began telling trade partners including Japan and South Korea that the higher U.S. tariffs will start August 1.Trump in April capped all of the so-called reciprocal tariffs with trading partners at 10% until July 9 to allow for negotiations. Only two agreements, with Britain and Vietnam, have been reached .Tariffs are expected to increase prices and to slow down growth, though uncertainty over the ultimate policies may be a bigger drag as it leads businesses to postpone decisions. The European Union still aims to reach a trade deal by July 9 after Commission President Ursula von der Leyen and Trump had a good exchange, a Commission spokesperson said.The euro slipped 0.57% to $1.172 having rallied over 13% so far this year. Immediate resistance can be seen at 1.1831(23.6%fib), an upside break can trigger rise towards 1.1914(Higher BB).On the downside, immediate support is seen at 1.1709(June 30th low), a break below could take the pair towards 1.1637(38.2%fib).
GBP/USD: Sterling edged lower versus the U.S. dollar on Monday as Trump began telling trade partners including Japan and South Korea that the higher U.S. tariffs will start August 1. Last week saw investors in UK assets rattled by ambiguities around the health of public finances, as a number of U-turns by the governing Labour Party over welfare reforms sparked speculation around the future of finance minister Rachel Reeves.Traders are now shifting their focus to a set of data this week, with Monday bringing a report that showed British house prices stagnated month-on-month during June as expected, after an increase in tax on property transactions took effect in April. Later in the week, traders will scrutinize a report on gross domestic product that could offer clarity on the health of the UK economy and determine the outlook on interest rates.Bank of England policymaker Alan Taylor said late on Friday that he thought it would be better to cut interest rates now rather than wait and risk needing to cut them in a hurry. Immediate resistance can be seen at 1.3758(23.6%fib), an upside break can trigger rise towards 1.3831(Higher BB).On the downside, immediate support is seen at 1.3576(38.2%fib), a break below could take the pair towards 1.3419(50%fib).
USD/CAD: The Canadian dollar weakened on Monday after U.S. President Donald Trump announced a 25% tariff on goods from Japan and South Korea starting August 1. Trump posted letters to the leaders of several countries on his social media platform, saying that he would impose tariffs of 25% on Japan and South Korea. He also sent letters to the leaders of Malaysia, Kazakhstan, Myanmar, South Africa and Laos, all of which outlined tariffs close to the levels previously announced for each country in April. Weekly jobless claims are the only significant economic indicator scheduled. Fed officials Alberto Musalem, a voting member, and Mary Daly are both slated to speak.Canada’s economic calendar features the June Ivey PMI on Tuesday and the closely watched employment report on Friday. Minutes of the Fed's latest policy meeting and speeches by several Fed officials are due this week for further insights into the central bank's policy path. Immediate resistance can be seen at 1.3691(38.2% fib), an upside break can trigger rise towards 1.3808 (Higher BB).On the downside, immediate support is seen at 1.3499(Lower BB), a break below could take the pair towards 1.3499(23.6%fib).
USD/JPY: The U.S. dollar strengthened on Monday as U.S. President Donald Trump unveiled sharply higher U.S. tariffs on goods from Japan, South Korea and other countries in the latest development in the U.S. trade war. Trump on Monday began telling trade partners including Japan and South Korea that the higher U.S. tariffs will start August 1.Trump in April capped all of the so-called reciprocal tariffs with trading partners at 10% until July 9 to allow for negotiations. Only two agreements, with Britain and Vietnam, have been reached. Tariffs are expected to increase prices and to slow down growth, though uncertainty over the ultimate policies may be a bigger drag as it leads businesses to postpone decisions.. Immediate resistance can be seen at 147.50(Higher BB)an upside break can trigger rise towards 147.77(Higher BB) .On the downside, immediate support is seen at 145.61(38.2%fib)a break below could take the pair towards 143.18(23.6%fib).
Equities Recap
European stocks closed higher on Monday, supported by strength in tech and banking sectors, as investors awaited trade developments ahead of Trump’s looming tariff deadline.
UK's benchmark FTSE 100 closed up by 0.28 percent, Germany's Dax ended down by 1.20 percent, France’s CAC finished the day up by 0.35 percent.
U.S. markets closed sharply lower Monday as Trump imposed steep tariffs on Japan, South Korea and others, and Tesla shares fell on news Elon Musk is launching a new political party.
Dow Jones closed down by 0.94% percent, S&P 500 closed down by 0.79% percent, Nasdaq settled down by 0.92% percent.
Commodities Recap
Gold pared earlier declines on Monday as Trump unveiled a 25% tariff on imports from Japan and South Korea beginning August 1, triggering safe?haven flows amid dollar strength.
Spot gold, which initially fell more than 1% amid dollar strength, had pared those losses to just 0.1% by 1:49?p.m.?EDT, trading at $3,332.62 an ounce.
Oil climbed 1% on Monday as robust demand signals overshadowed concerns about OPEC+’s larger-than-anticipated August output increase and potential U.S. tariffs.
By midday, Brent had risen $0.91 (1.3%) to $69.20 and WTI $0.57 (0.8%) to $67.57—both bouncing back from earlier lows of $67.22 and $65.40, respectively.