Posted at 16 July 2025 / Categories Market Roundups
Market Roundup
• Italian CPI (YoY) (Jun): 1.7%, 1.7% forecast, 1.6% previous
•Italian CPI Ex Tobacco (YoY) (Jun): 1.5%, 1.4% previous
•Italian HICP (MoM) (Jun): 0.2%, 0.2% forecast, -0.1% previous
•Italian HICP (YoY) (Jun): 1.8%, 1.7% forecast, 1.7% previous
•UK House Price Index (YoY): 3.9%, 3.2% forecast, 3.5% previous
•Italian Trade Balance (May): 6.163B, 2.870B forecast, 2.448B previous
•Italian Trade Balance EU (May): 0.78B, 0.13B previous
•Eurozone Trade Balance (May): 16.2B, 13.9B forecast, 11.1B previous
•Canadian Housing Starts (Jun): 283.7K, 262.0K forecast, 282.7K previous
•US Core PPI (MoM) (Jun): 0.0%, 0.2% forecast, 0.4% previous
•US Core PPI (YoY) (Jun): 2.6%, 2.7% forecast, 3.2% previous
•US PPI (MoM) (Jun): 0.0%, 0.2% forecast, 0.3% previous
•US PPI (YoY) (Jun): 2.3%, 2.5% forecast, 2.7% previous
•US PPI ex. Food/Energy/Transport (YoY) (Jun): 2.5%, 2.8% previous
•US PPI ex. Food/Energy/Transport (MoM) (Jun): 0.0%, 0.1% previous
•13:15 US Capacity Utilization Rate (Jun): 77.6 ,77.4 forecast, 77.4% previous
•13:15 US Industrial Production (YoY) (Jun): 73.6%, 0.60% previous
•13:15 US Industrial Production (MoM) (Jun): 0.30% ,0.1% forecast, -0.2% previous
•13:15 US Manufacturing Production (MoM) (Jun):0.1 %, 0.0% forecast, 0.1% previous
Looking Ahead No Economic Events (GMT)
•14:00 US Crude Oil Inventories: -1.800M forecast, 7.070M previous
•14:30 US Crude Oil Imports: -1.358M previous
•14:30 US Cushing Crude Oil Inventories: 0.464M previous
•14:30 US Distillate Fuel Production: 0.059M previous
Looking Ahead Events And Other Releases(GMT)
•14:00 Fed Vice Chair for Supervision Barr Speaks
•20:30 US FOMC Member Williams Speaks
Currency Forecast
EUR/USD: The euro edged lower against the dollar on Wednesday as investors evaluated signs of inflation from U.S. tariff policies. The cautious mood in the markets followed Tuesday's inflation report, which pointed to rising prices fueled by President Donald Trump's tariffs and dimmed hopes for deeper rate cuts from the Federal Reserve. Trade tensions also remained in focus after Trump announced a 19% tariff on Indonesian goods as part of a new deal, one of several rushed agreements ahead of an August 1 deadline for broader tariff hikes. Meanwhile, the European Union was preparing retaliatory measures should talks with Washington falter. . Immediate resistance can be seen at 1.1828(23.6%fib ), an upside break can trigger rise towards 1.1877(Higher BB).On the downside, immediate support is seen at 1.1616(38.2%fib), a break below could take the pair towards 1.1500(June 16th low).
GBP/USD: Sterling edged higher against the dollar on Wednesday as markets reacted to the latest UK CPI report. Britain’s annual consumer price inflation unexpectedly rose to 3.6% in June, its highest level in over a year,according to official data released on Wednesday. The surprise uptick may complicate the Bank of England’s decision on whether to cut interest rates at its upcoming meeting in August.The June CPI reading, reported by the Office for National Statistics, marked the highest annual rate since January 2024. It exceeded economist expectations from a Reuters poll, which had forecast inflation to remain steady at May’s 3.4% rate.Bank of England Governor Andrew Bailey has indicated that interest rates are still likely to follow a gradual downward path, citing a weakening labour market and subdued economic growth as factors that should dampen wage pressures. Immediate resistance can be seen at 1.3597(38.2%fib), an upside break can trigger rise towards 1.3680(July 4th high).On the downside, immediate support is seen at 1.3448(50%fib), a break below could take the pair towards 1.3381(Lower BB).
AUD/USD: The Australian dollar edged higher on Wednesday as traders awaited key labour market data that could shape expectations for Reserve Bank of Australia (RBA) policy. June employment figures, due Thursday, are expected to show a 20,000 increase in jobs, rebounding from May’s rare decline.The unemployment rate is forecast to hold steady at 4.1%, where it has remained for much of the past year. Since late 2023, the jobless rate has stayed within a narrow range of 3.9% to 4.2%, reflecting surprising resilience despite broader economic headwinds.The RBA continues to adopt a cautious, data-driven approach, balancing signs of stabilizing inflation against a still-robust labour market. At GMT 13:08, Australian dollar was trading up 0.08% at 0.6519against US dollar. Immediate resistance can be seen at 0.6600(Psychological level), an upside break can trigger rise towards 0.6698(23.6%fib).On the downside, immediate support is seen at 0.6544(38.2%fib), a break below could take the pair towards 0.6488(July 7th low).
USD/JPY: The U.S. dollar edged lower on Wednesday after cooler-than-expected producer prices data for June reinforcing expectations that the Federal Reserve could cut interest rates later this year.Data from the Labor Department showed the Producer Price Index rose 2.3% on an annual basis in June, compared with a 2.5%gain expected by economists polled by Reuters. On a monthly basis, it was flat compared with an estimated 0.2% rise. Excluding volatile food and energy components, core PPI increased 2.6%on an annual basis, compared with an expected 2.7% rise. The greenback eased 0.1% to 148.65 against the yen after touching a 3-1/2-month high of 149.19. Immediate resistance can be seen at 149.50(38.2%fib)an upside break can trigger rise towards 150.00(Psychological level) .On the downside, immediate support is seen at 147.25(50%fib)a break below could take the pair towards 146.91(SMA 20).
Equities Recap
European gained modestly on Wednesday as investors turned their attention to trade talks and corporate earnings.
At GMT (12:28) UK's benchmark FTSE 100 was l up trading up at 0.09 percent, Germany's Dax was up by 0.88 percent, France’s CAC was up by 0.09 percent.
Commodities Recap
Gold rose on Wednesday as the dollar softened, while investors looked for further clarity on U.S. trade negotiations.
Spot gold was up 0.4% at $3,335.0 per ounce, as of 1100 GMT. U.S. gold futures edged 0.2% higher to $3,342.20.
Oil declined about 1% on Wednesday, as investor caution over the economic effects of U.S. tariffs outweighed positive signals from China’s crude consumption.
Brent crude futures fell 63 cents, or 0.9%, to $68.08 a barrel by 1150 GMT. U.S. West Texas Intermediate crude futures were down 69 cents, or 1%, to $65.83.