Posted at 09 July 2025 / Categories Market Roundups
Market Roundup
• Greek CPI (YoY) (Jun) 2.8%, 2.5% previous
• Greek HICP (YoY) (Jun) 3.6%, 3.3% previous
• UK 10-Year Treasury Gilt Auction 4.635%, 4.588% previous
Looking Ahead Economic Data(GMT)
•14:00 US Wholesale Trade Sales (MoM) (May): 0.1% previous
•14:30 US Crude Oil Inventories: -1.700M forecast, 3.845M previous
•14:30 US EIA Refinery Crude Runs (WoW): 0.118M previous
•14:30 US Crude Oil Imports: 2.940M previous
•14:30 US Cushing Crude Oil Inventories: -1.493M previous
•14:30 US Distillate Fuel Production: 0.245M previous
•14:30 US EIA Weekly Distillates Stocks: -1.710M previous
•14:30 US Gasoline Production: -0.491M previous
•17:00 US Atlanta Fed GDPNow (Q2) 2.6% forecast, 2.6% previous
Looking Ahead Events And Other Releases(GMT)
•18:00 US FOMC Meeting Minutes
Currency Forecast
EUR/USD : The euro slipped on Wednesday as markets awaited clarity on a potential trade deal between the European Union and the United States. U.S. President Donald Trump said he would announce the tariff rate the EU could face within two days, while noting that recent talks had been “very nice.”Trump also outlined plans to impose a 50% tariff on imported copper and signaled that long-delayed duties on semiconductors and pharmaceuticals were imminent. Additionally, he floated the idea of a 200% tariff on drug imports, though he hinted implementation could be delayed by about a year. Reaffirming his tough stance, Trump set August 1 as the final deadline for tariff deals, stating there would be “no more extensions,” intensifying pressure on ongoing 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 1.1684(July 8th low), a break below could take the pair towards 1.1637(38.2%fib).
GBP/USD: The British pound edged lower on Wednesday as investors reacted to the Bank of England’s half-yearly financial stability report and growing global trade tensions. Sentiment turned cautious after President Trump announced a 50% tariff on imported copper along with upcoming levies on semiconductors and pharmaceuticals. He also signaled new trade actions involving at least seven countries, following his earlier warning to 14 nations about potential tariffs starting August 1.While the pound has gained nearly 9% against the dollar this year on track for its best annual performance since 2017 fiscal concerns have limited further upside, with the currency down over 1.4% from its 2021 peak. The BoE report highlighted elevated market risks amid escalating U.S. tariff threats, adding to investor caution. 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 eased on dollar on Wednesday as investors assessed President Donald Trump's aggressive tariff moves and kept a close watch on negotiations with global trade partners.Trump said on Tuesday he would impose a 50% tariff on imported copper and soon introduce long-threatened levies on semiconductors and pharmaceuticals, a day after he pressured 14 trading partners with fresh tariff letters. He said a minimum of seven tariff notices would be released on Wednesday. Investors are looking ahead to Thursday's initial jobless claims figures for further insights into the labor market. Traders will also parse through the minutes from the Federal Reserve's June meeting, due at 2:00 p.m. ET, for any hints about when policymakers might resume easing rates. While a July rate reduction is almost fully ruled out, the odds of a September cut stand at about 63%, according to CME Group's FedWatch tool. Immediate resistance can be seen at 0.6568(Daily high), an upside break can trigger rise towards 0.6600(23.6%fib).On the downside, immediate support is seen at 0.6497(38.2%fib), a break below could take the pair towards 0.6410(50%fib).
USD/JPY: The U.S. dollar held near a two-week high against the yen on Wednesday after President Donald Trump pledged more trade-related announcements, following his decision to impose 25% tariffs on Japan and other key partners. Trump stated that new trade actions involving “at least seven countries” would be revealed, though he gave no specifics. He also threatened a 50% tariff on imported copper and signaled forthcoming duties on semiconductors and pharmaceuticals. On Monday, letters were sent to 14 countries warning of steep tariffs set to begin August 1, though Trump later indicated flexibility if talks progress. In response, Japanese Prime Minister Shigeru Ishiba said negotiations with Washington would continue in hopes of reaching a fair trade deal. 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
European shares edged higher on Wednesday, led by gains in banking stocks, as investors looked for signs of progress in trade talks with the United States.
At GMT (12:28) UK's benchmark FTSE 100 was last trading up at 0.15 percent, Germany's Dax was up by 0.18 percent, France’s CAC was down by 1.29 percent.
Commodities Recap
Gold prices fell to a one-week low on Wednesday as investors moved to the dollar after President Trump’s renewed tariff threats sparked fresh global trade war fears.
Spot gold was down 0.4% at $3,286.29 per ounce as of 1140 GMT, after falling to its lowest level since June 30 earlier in the session.
Oil prices rose on Wednesday, holding at their highest levels since June 23, supported by renewed attacks on shipping in the Red Sea and ongoing geopolitical tensions.
Brent crude futures gained 10 cents, or 0.1%, to $70.25 a barrel by 1057 GMT. U.S. West Texas Intermediate crude was up 15 cents, or 0.2%, to $68.48 a barrel.