Posted at 10 July 2025 / Categories Market Roundups
Market Roundup
•US Continuing Jobless Claims: 1,965K, 1,980K forecast, 1,964K previous
•US Initial Jobless Claims: 227K ,236K actual, 233K previous
•US Jobless Claims 4-Week Avg.: 235.50K ,241.50K previous
•US Natural Gas Storage: 53B, 56B forecast, 55B previous
•US 4-Week Bill Auction: 4.235% ,4.240% previous
•US 8-Week Bill Auction: 4.275%, 4.300%,previous
Looking Ahead Economic Data(GMT)
•No Data Ahead
Looking Ahead Events And Other Releases(GMT)
•No Events Ahead
Currency Summaries
EUR/USD: The euro slipped lower against dollar on Thursday as investors remained cautious, awaiting clarity on a potential trade agreement between the EU and the United States. Brussels is in active talks with U.S. counterparts over a range of potential measures to shield the European Union’s auto industry from steep U.S. import tariffs. The EU's trade chief Maros Sefcovic has said he hoped that EU negotiators could finalise their work soon .Trump launched a further tariff assault on Wednesday, announcing a new 50% tariff on U.S. copper imports and a 50% duty on goods from Brazil, both to start on August 1. On the data front, U.S. jobless claims unexpectedly declined last week, indicating that employers may be holding onto workers even as other signs point to a cooling labor market. 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 1.1668(SMA 20), a break below could take the pair towards 1.1623(50%fib).
GBP/USD: The British pound edged lower against the U.S. dollar on Thursday, as markets digested renewed trade tensions sparked by President Donald Trump’s latest tariff announcement. On Wednesday, Trump unveiled a new 50% tariff on copper imports, set to take effect August 1, as part of efforts to bolster domestic production in sectors tied to national defense, electronics, and automotive manufacturing. The move builds on a broader protectionist agenda targeting industries such as steel and aluminum, with economists cautioning that such measures could drive up costs for U.S. consumers and businesses. On the domestic front, UK housing market data pointed to early signs of stabilization in June, as the sharp slowdown following April’s property transaction tax hike began to ease. Looking ahead, investors are closely watching Friday’s UK GDP release, which could provide fresh clues on whether the British economy is starting to rebound from the contraction seen in April. 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).
USD/CAD: The Canadian dollar was little changed against the U.S. dollar on Thursday as investors assessed fresh U.S. tariff threats and awaited developments in trade negotiations. Market sentiment remained cautious after U.S. President Donald Trump announced a new 50% tariff on copper imports and an identical 50% duty on goods from Brazil, both set to take effect on August 1.On the North American front, Canada continues to work toward finalizing a trade agreement with the U.S. ahead of its self-imposed July 21 deadline. However, Canadian officials have made it clear that if no deal is reached, Ottawa is prepared to impose counter-duties on American goods in response. The loonie was trading flat at 1.3656 per U.S. dollar , after trading in a range of 1.3664 to 1.3708. Immediate resistance can be seen at 1.3738(50% fib), an upside break can trigger rise towards 1.3767(Higher BB).On the downside, immediate support is seen at 1.3656(38.2%fib), a break below could take the pair towards 1.3553(23.6%fib).
USD/JPY: The U.S. dollar softened on Thursday, pulling back from a two?week peak as renewed trade jitters kept investors on edge. Rising concerns over potential tariff escalations and stalled negotiations kept sentiment cautious, while traders awaited fresh cues on whether key talks might resume before looming deadlines capping any further upside in the currency.President Trump imposed a 25% tariff on Japanese goods, set to take effect on August 1, and ruled out any extension of the deadline. Markets are now closely watching for further comments from both sides, with attention focused on whether talks will resume before the August 1 cutoff. Meanwhile, Japan’s producer price inflation eased to 2.9% year-over-year in June 2025, down from a slightly revised 3.2% in May. On a monthly basis, producer prices declined by 0.2%, following a 0.1% drop in the previous month. Immediate resistance can be seen at 146.91(50%fib)an upside break can trigger rise towards 147.47(Higher BB) .On the downside, immediate support is seen at 145.00(Psychological level)a break below could take the pair towards 144.06(38.2%fib).
Equities Recap
European shares ended higher on Thursday, led by gains in mining and healthcare stocks, as investors looked for signs of progress in U.S.-EU trade talks.
UK's benchmark FTSE 100 closed up by 1.23 percent, Germany's Dax ended down by 0.38 percent, France’s CAC finished the day up by 0.30 percent.
S&P 500 and Nasdaq notched new record closes on Thursday as investor sentiment was buoyed by a strong Delta Air Lines forecast and Nvidia’s continued surge.
Dow Jones closed up by 0.43% percent, S&P 500 closed up by 0.27% percent, Nasdaq settled up by 0.09% percent.
Commodities Recap
Gold prices were flat on Thursday, as a firmer U.S. dollar offset any safe?haven demand prompted by President Trump’s latest tariff announcements.
Spot gold was up 0.1% at $3,317.44 per ounce by 0150 pm ET (1750 GMT). U.S. gold futures settled 0.1% higher at $3,325.7.
Oil prices dropped over 2% on Thursday as investors assessed the potential drag of President Trump’s tariffs on global economic growth.
Brent crude futures settled at $68.64 a barrel, down $1.55, or 2.21%. U.S. West Texas Intermediate crude finished at $66.57 a barrel, down by $1.81, or 2.65%.