Posted at 10 July 2025 / Categories Market Roundups
Market Roundup
• Japan Foreign Bonds Buying 1,656.8B, 182.8B previous
• Japan Foreign Investments in Japanese Stocks 611.7B, 651.3B previous
• Japan PPI (MoM) (Jun) -0.2%, -0.2%forecast-0.1% previous
• Japan PPI (YoY) (Jun) 2.9%,2.9%forecast, 3.3% previous
Looking Ahead Economic Data(GMT)
•08:00 Italian Industrial Production (MoM) (May): -0.2% forecast, 1.0% previous
•08:00 Italian Italian Industrial Production (YoY) (May) 0.2% forecast 0.3% previous
•09:00 Greek Industrial Production (YoY) (May) -4.3% previous
•09:10 Italian 12-Month BOT Auction 1.983% previous
•10:00 Portuguese CPI (YoY) (Jun) 2.4% forecast 2.3% previous
•10:00 Portuguese CPI (MoM) (Jun) 0.1% forecast 0.3% previous
Looking Ahead Events And Other Releases(GMT)
•No Events Ahead
Currency Forecast
EUR/USD: The euro edged higher on Thursday as investors largely ignored the latest tariff threats from the U.S. and awaited an announcement on the levies it will apply to the EU, one of its biggest trading partners. Brussels is discussing with U.S. counterparts a range of measures aimed at protecting the bloc's auto industry from steep U.S. import duties, including tariff cuts and import quotas, according to industry sources and trade officials. Meanwhile, on Wednesday, President Donald Trump announced the duty on Brazilian goods would increase to 50% from 10%, a shockingly high level for a country with a balanced U.S. trade relationship. The EU's trade chief Maros Sefcovic has said he hoped that EU negotiators could finalise their work soon. The euro gained 0.1% to $1.1735. Immediate resistance can be seen at 1.1828(23.6%fib), an upside break can trigger rise towards 1.1879(Higher BB).On the downside, immediate support is seen at 1.1712(38.2%fib), a break below could take the pair towards 1.1623(50%fib).
GBP/USD: The British pound edged higher against the U.S. dollar on Thursday as investors shrugged off renewed tariff threats from U.S. President Donald Trump. U.S. President Donald Trump announced on Wednesday a new 50% tariff on copper to start on August 1 in a bid to promote domestic development of an industry critical to defense, electronics and automobiles. The move marks the latest in a string of sectoral tariffs Trump has placed on industries such as steel and aluminum that economists warn will drive up costs for American consumers. On the data front,UK GDP data due Friday is expected to draw strong market focus, with investors watching for signs of economic strength or strain amid inflation and shifting BoE policy expectations.. Immediate resistance can be seen at 1.3676(July 4th high), an upside break can trigger rise towards 1.3793(23.6%fib).On the downside, immediate support is seen at 1.3542(38.2%fib), a break below could take the pair towards 1.3404(Lower BB).
AUD/USD: The Australian dollar firmed on Thursday as the Australian dollar continued to draw support from the Reserve Bank of Australia’s surprise decision to hold rates steady earlier this week. The RBA left the cash rate unchanged for the second time this year on Tuesday, defying market expectations for a cut as policymakers await clearer evidence that inflation is moving sustainably toward the 2.5% midpoint target. The move was viewed as a sign of confidence in the domestic economy.Meanwhile, the U.S. escalated trade tensions on Wednesday, with President Trump announcing 50% tariffs on copper imports and Brazilian goods, effective August 1. However, markets largely shrugged off the developments, with investors appearing confident that the measures would not severely disrupt global trade flows. Immediate resistance can be seen at 0.6590(23.6%fib), an upside break can trigger rise towards 0.6629(Higher BB).On the downside, immediate support is seen at 0.6477(38.2%fib), a break below could take the pair towards 0.6420(Lower BB).
USD/JPY: The U.S. dollar retreated from two week high on Thursday as investors locked in profts following its recent rally. The U.S. and Japan have failed to make progress in trade talks, primarily due to Tokyo’s resistance to opening its rice market.In response, President Trump announced a 25% tariff on Japanese goods, to be enforced from August 1, and firmly ruled out pushing back the deadline.Market participants await further statements and clues on whether negotiations will resume ahead of the August 1 U.S. deadline. On the data front, Japane’s producer price inflation in Japan cooled to 2.9% y/y in June 2025, following a slightly revised 3.2% in May. Monthly producer prices declined 0.2% in June, extending the drop from May's 0.1% dip Immediate resistance can be seen at 147.43(Higher BB)an upside break can trigger rise towards 148.67(61.8%fib) .On the downside, immediate support is seen at 145.58(50%fib)a break below could take the pair towards 144.26(Jul 7th low).
Equities Recap
Asian stocks edged higher on Thursday as investors largely shrugged off U.S. President Donald Trump's latest tariff salvos.
South Korea’s KOSPI was up 1.58% , Hang Seng was up 0.62 %, China A50 was up by 0.61%
Commodities Recap
Gold prices rose modestly on Thursday, supported by a slight pullback in both the U.S. dollar and Treasury yields.
Spot gold rose 0.3% to $3,321.68 per ounce by 0608 GMT. U.S. gold futures were up 0.3% at $3,329.90.
Oil prices held steady on Thursday as investors balanced concerns over the potential economic fallout from President Trump’s new tariffs against support from a weaker U.S. dollar and robust U.S. gasoline demand.
Brent crude futures were up 4 cents at $70.23 a barrel by 0600 GMT. U.S. West Texas Intermediate crude fell 1 cent to $68.37 a barrel.