Posted at 09 July 2025 / Categories Market Roundups
Market Roundup
• Japan M2 Money Stock (YoY) 0.9%, 0.2% forecast, 0.6% previous
• Japan M3 Money Supply (Jun) 2,204.8B, 2,200.8B previous
•Australia ??Building Approvals (MoM) (May):??3.2%,??3.2%?forecast,??-4.1%?previous
•Australia ??Private House Approvals (May):??0.5%,??0.5%?forecast,??5.9%?previous
•China?CPI (MoM) (Jun):??-0.1%,??0.0%?forecast,??-0.2%?previous
•China ??CPI (YoY) (Jun):??0.1%,??-0.1%?forecast,??-0.1%?previous
•China ??PPI (YoY) (Jun):??-3.6%,??-3.2%?forecast,??-3.3%?previous
•New Zealand??RBNZ Interest Rate Decision:??3.25%,??3.25%?forecast,??3.25%?previous
Looking Ahead Economic Data(GMT)
• 09:00?? Greek CPI (YoY) (Jun):??2.5%?previous
• 09:00?? Greek HICP (YoY) (Jun):??3.3% previous
•UK??10-Year Treasury Gilt Auction:? 4.588% previous
Looking Ahead Events And Other Releases(GMT)
•No Events Ahead
Currency Forecast
EUR/USD: The euro dipped on Wednesday as investors awaited updates on a potential trade agreement between the European Union and the United States. U.S. President Donald Trump said he would likely announce within two days the tariff rate the EU can expect on its exports to the U.S., noting that the bloc had been “very nice” in recent trade discussions.Trump also revealed plans to impose a 50% tariff on imported copper, and signaled that long-discussed levies on semiconductors and pharmaceuticals would be introduced soon. He further threatened a 200% tariff on drug imports, though he suggested that implementation could be delayed by about a year.In a more definitive tone, Trump pushed the tariff deal deadline to August 1, calling it final and insisting there would be “no more extensions”, reinforcing a firm stance in ongoing trade negotiations. 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: The British pound edged higher against the U.S. dollar on Wednesday, as investors shrugged off renewed tariff threats from U.S. President Donald Trump. Trump reiterated plans to impose a 50% tariff on copper imports, along with long-expected levies on semiconductors and pharmaceuticals. He also restated his intention to introduce 10% tariffs on BRICS nations, following his recent notice to 14 countries, including Japan and South Korea, about new tariffs starting August 1. UK GDP figures, set for release later this week, are expected to attract significant market attention as investors search for signals on the economy's trajectory. The data will be closely watched for signs of resilience or weakness amid persistent inflation pressures and shifting monetary policy expectations, potentially influencing the Bank of England’s future rate decisions. 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).
AUD/USD: The Australian dollar initially gained but gave up ground on Wednesday as investors digested mixed data from China, Australia’s largest trading partner . China's consumer prices rose for the first time in five months in June, while its producer deflation deepened to its worst level in almost two years.The world's second-largest economy is still grappling with uncertainty over the global trade war and subdued demand at home, piling pressure on policymakers to roll out more support measures. Meanwhile, Investor focus turned to the U.S., where trade tensions intensified after President Trump ruled out any extensions to the August 1 tariff deal deadline, dampening market optimism and heightening uncertainty over measures like trans-shipment tariff. Immediate resistance can be seen at 0.6595(23.6%fib), an upside break can trigger rise towards 0.6623(Higher BB).On the downside, immediate support is seen at 0.6486(38.2%fib), a break below could take the pair towards 0.6420(Lower BB).
USD/JPY: The U.S. dollar gained ground on Wednesday as the Japanese yen slipped, weighed down by renewed trade tensions following President Donald Trump’s latest tariff threats. U.S. President Donald Trump escalated trade tensions on Monday, warning 14 countries including major suppliers like Japan and South Korea, that they will face steep tariff hikes if no deals are reached by the new August 1 deadline. Export-dependent Japan stands out among major U.S. trading partners as being far away from a deal, and its currency has taken a beating as time runs out. Multiple rounds of talks have failed to result in a breakthrough, and Japanese policymakers are increasingly focused on a critical upcoming election.The dollar climbed 0.4% to 147.12 yen , after touching 147.19, the strongest since June 23. Immediate resistance can be seen at 147.43(50%fib)an upside break can trigger rise towards 147.97(Higher BB) .On the downside, immediate support is seen at 145.98(July 8th low)a break below could take the pair towards 144.92(SMA 20).
Equities Recap
Asian shares were mixed on Wednesday as investors treaded carefully amid shifting signals on global trade policy.
South Korea’s KOSPI was up 0.60% , Hang Seng was down 1.05 %,Japan’s Nikkei 225 was up 0. 35%
Commodities Recap
Gold prices fell on Wednesday to their lowest level in over a week, weighed down by a stronger U.S. dollar and rising Treasury yields.
Spot gold was down 0.4% at $3,286.96 per ounce, as of 0624 GMT, after hitting its lowest level since June 30.U.S. gold futures fell 0.7% to $3,295.
Oil prices dipped on Wednesday as investors awaited clarity on new U.S. tariffs and anticipated a rise in U.S. crude inventories.
Brent crude futures slipped 15 cents, or 0.2%, to $70 a barrel by 0601 GMT. U.S. West Texas Intermediate crude fell 16 cents, or 0.2%, to $68.17 a barrel.