Posted at 11 July 2025 / Categories Market Roundups
Market Roundup
• Canada Avg Hourly Wages Permanent Employees (Jun): 3.2%, 3.5% previous
•Canada Building Permits (MoM) (May): 12.0%, -1.5% forecast, -6.8% previous
•Canada Employment Change (Jun): 83.1K, 0.9K forecast, 8.8K previous
•Canada Full Employment Change (Jun): 13.5K, 57.7K previous
•Canada Part-Time Employment Change (Jun): 69.5K, -48.8K previous
•Canada Participation Rate (Jun): 65.4%, 65.3% previous
•Canada Unemployment Rate (Jun): 6.9%, 7.1% forecast, 7.0% previous
•U.S. Baker Hughes Oil Rig Count: 424, 425 previous
•U.S. Baker Hughes Total Rig Count: 537, 539 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 eased against dollar on Friday after cautious remarks from key European Central Bank officials weighed on the single currency. ECB Governing Council member Fabio Panetta struck a slightly dovish tone, reinforcing the central bank's patient stance amid lingering global risks. Meanwhile, fellow board member Isabel Schnabel downplayed the likelihood of another rate cut, stating that the bar for further easing remains “very high”, given that the Eurozone economy is performing better than expected. Adding to the cautious mood, the EU remains on alert as it awaits a possible formal announcement from U.S. President Donald Trump regarding new tariffs on European imports—part of a broader expansion of his global trade war. On the data front. France’s harmonized inflation rate, adjusted for comparison with other euro zone nations, was revised up to 0.9% year-on-year in June from a preliminary figure of 0.8%, statistics bureau INSEE said on Friday. Immediate resistance can be seen at 1.1841 (23.6%fib), an upside break can trigger rise towards 1.1952(Higher BB).On the downside, immediate support is seen at 1.1592(38.2%fib), a break below could take the pair towards 1.1406(50%fib).
GBP/USD: Sterling hit two week low against dollar on Friday after data showed the UK economy contracted for the second month, boosting expectations that the Bank of England could lower borrowing costs next month.Gross domestic product shrank by 0.1% after a 0.3% drop in April, the Office for National Statistics said, primarily dragged by weakness in industrial and construction output. Data adds to worries for finance minister Rachel Reeves, with economists saying it looks likely she will need to raise taxes again in the upcoming Autumn budget as the government strives to balance its public accounts. Traders are now pricing in a 78.3% chance the BoE could deliver a 25-basis-point interest rate cut in August. Immediate resistance can be seen at 1.3585(Daily high), an upside break can trigger rise towards 1.3770(23.6%fib).On the downside, immediate support is seen at 1.3469(38.2%fib), a break below could take the pair towards 1.3346(Lower BB).
USD/CAD: The Canadian dollar weakened against the U.S. dollar on Friday as U.S. President Donald Trump's announcement of tariffs on imports from Canada fanned worries about trade tensions. U.S. President Donald Trump ramped up his tariff assault on Canada on Thursday, saying the U.S. would impose a 35% tariff on imports next month, up from the current 25% rate. An exclusion for goods covered by the United States-Mexico-Canada Agreement on trade was expected to stay in place. On the data front, the Canadian economy added 83,100 jobs in June and the unemployment rate surprisingly dipped to a level of 6.9% from 7% in May. Money markets see a 13% chance the BoC cuts its benchmark interest rate at the next policy decision on July 30, down from 27% before the jobs data.On the data front, 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 1.3772(38.2% fib), an upside break can trigger rise towards 1.3822(Higher BB).On the downside, immediate support is seen at 1.3555(23.6%fib), a break below could take the pair towards 1.3518(Lower BB).
USD/JPY: The U.S. dollar strengthened against yen on Friday as dollar firmed after President Donald Trump rekindled trade tensions with new tariffs on Canada and other trading partners. Trump issued a letter late on Thursday that said a 35% tariff rate on all imports from Canada would apply from August 1. The European Union was set to receive a letter by Friday. The U.S. president, whose global wave of tariffs has upended businesses and policymaking, floated a blanket 15% or 20% tariff rate on other countries, a step up from the current 10% baseline rate. The U.S. dollar was up 0.79% to 147.4 against the Japanese yen, on track to add nearly 2% for the week the biggest weekly gain since early December. 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
European shares ended lower on Friday, dragged by banking and healthcare losses, as markets reacted to Trump’s tariff moves.
UK's benchmark FTSE 100 closed down by 0.38percent, Germany's Dax ended down by 0.82 percent, France’s CAC finished the day down by 0.92 percent.
Wall Street closed lower on Friday, with Meta Platforms dragging the S&P 500 as Trump’s intensified tariff offensive against Canada added to U.S. trade policy uncertainty.
Dow Jones closed down by 0.63% percent, S&P 500 closed down by 0.33% percent, Nasdaq settled down by 0.22% percent.
Commodities Recap
Gold rose over 1% on Friday as investors flocked to safe havens after Trump’s new tariff announcement, while silver hit a 13-year high.
Spot gold gained 1% to $3,356.93 per ounce by 2:43 p.m. EDT (1843 GMT), after touching its highest level since June 24 earlier in the session. U.S. gold futures closed up 1.4% at $3,371.20.
Oil prices climbed over 2% on Friday, boosted by an IEA report warning of tighter supply and concerns over U.S. tariffs and potential new sanctions on Russia.
Brent crude futures settled up $1.72, or 2.5%, at $70.36 a barrel. U.S. West Texas Intermediate crude gained $1.88, or 2.8%, to $68.45 a barrel.