Posted at 17 July 2025 / Categories Market Roundups
Market Roundup
• 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 (YoY) (Jun): 2.3%, 2.5% forecast, 2.7% previous.
•US PPI (MoM) (Jun): 0.0%, 0.2% forecast, 0.3% previous.
•US PPI ex. Food/Energy/Transport (MoM) (Jun): 0.0%, 0.1% previous.
•US PPI ex. Food/Energy/Transport (YoY) (Jun): 2.5%, 2.8% previous.
•US Capacity Utilization Rate (Jun): 77.6%, 77.4% forecast, 77.5% previous.
•US Industrial Production (YoY) (Jun): 0.73%, 0.66% previous.
•US Industrial Production (MoM) (Jun): 0.3%, 0.1% forecast, 0.0% previous.
•US Manufacturing Production (MoM) (Jun): 0.1%, 0.0% forecast, 0.3% previous.
•US Crude Oil Inventories: -3.859M, -1.800M forecast, 7.070M previous.
Looking Ahead Economic Data(GMT)
•No Data Ahead
Looking Ahead Events And Other Releases(GMT)
• No Events Ahead
Currency Forecast
EUR/USD: The euro initially gained but gave up on Wednesday as concerns U.S. President Donald Trump was preparing to fire the Federal Reserve chair kept investor cautious Trump denied reports he was planning to dismiss Fed Chair Jerome Powell, but he kept the door open to the possibility and renewed his criticism of the central bank chief for not lowering interest rates. Investors worry that removing Powell before his term ends in May 2026 would undermine credibility in the U.S. financial system and the dollar as a safe-haven currency. The dollar index, which measures the greenback against major peers, was little changed at 98.384 after a 0.3% slide on Wednesday. The euro stood at $1.1632 down 0.01%. Immediate resistance can be seen at 1.1657(38.2%fib ), an upside break can trigger rise towards 1.1828(23.6%fib).On the downside, immediate support is seen at 1.1566(Daily low), a break below could take the pair towards 1.1523(50%fib).
GBP/USD: Sterling fluctuated against the U.S. dollar on Wednesday in choppy trading, as investor sentiment was shaken by concerns over the Federal Reserve’s independence. A Bloomberg report claimed that U.S. President Donald Trump was considering firing Fed Chair Jerome Powell, triggering a drop in the dollar, a sell-off on Wall Street, and a spike in Treasury yields. However, Trump later dismissed the speculation, easing some of the market tension. Meanwhile, traders turned their focus to upcoming UK employment and wage data due Thursday, which could provide clues on the Bank of England’s next policy move. While the central bank is widely expected to cut interest rates by 25 basis points in August amid signs of slowing economic growth and a softening labour market, the odds of a cut were trimmed slightly following stronger-than-expected inflation figures released on Wednesday.. Immediate resistance can be seen at 1.3447(50%fib), an upside break can trigger rise towards 1.3612(38.2%fib).On the downside, immediate support is seen at 1.3295(61.8%fib), a break below could take the pair towards 1.3249(Lower BB).
USD/CAD: The Canadian dollar initially strengthened against the U.S. dollar on Wednesday but later surrendered most of its gains, after media reports suggested that U.S. President Donald Trump might soon fire Federal Reserve Chair Jerome Powell, sparking a brief selloff in the greenback. Fed officials have resisted cutting interest rates until there is clarity on whether Trump's tariffs on U.S. trading partners reignite inflation. Data on Tuesday showed an uptick in U.S. consumer prices which had helped underpin the greenback.Canadian consumer price data released on Tuesday showed underlying increases remaining close to an annual rate of 3%, well above the Bank of Canada's 2% target. The loonie was trading at 1.3708 per U.S. dollar, after touching daily high at 1.3680. Immediate resistance can be seen at 1.3768(Higher BB), an upside break can trigger rise towards 1.3793(50%fib).On the downside, immediate support is seen at 1.3672(38.2%fib), a break below could take the pair towards 1.3673(Lower BB).
USD/JPY: The U.S. dollar briefly dipped but later recovered some ground in volatile trading as markets stabilized following President Donald Trump’s statement that he was "highly unlikely" to fire Federal Reserve Chair Jerome Powell. Earlier in the session, a Bloomberg report suggesting Trump was considering Powell’s removal had sparked sharp market reactions — with stocks sliding, the dollar tumbling, and gold prices surging amid concerns over the Fed’s independence. Sentiment shifted after Trump denied the report, easing investor fears. Powell, who has faced repeated public criticism from the president for holding interest rates steady, has been under pressure as the Fed weighs the inflationary effects of recent tariffs. Trump's dissatisfaction with the pace of rate cuts has fueled worries about political interference in the central bank’s decision-making.. Immediate resistance can be seen at 148.94(Higher BB)an upside break can trigger rise towards 150.00(Psychological level) .On the downside, immediate support is seen at 147.60(50%fib)a break below could take the pair towards 146.98(Daily low).
Equities Recap
Equity indexes closed lower on Wednesday as market tensions eased after President Donald Trump said it was "highly unlikely" he would fire Federal Reserve Chair Jerome Powell.
UK's benchmark FTSE 100 closed down by 0.13 percent, Germany's Dax ended down by 0.21 percent, France’s CAC finished the day down by 0.57 percent.
Wall Street benchmarks ended modestly higher on Wednesday, with the Nasdaq Composite notching a fresh record close, despite a brief period of turbulence triggered by reports that U.S. President Donald Trump was preparing to fire Federal Reserve Chair Jerome Powell.
Dow Jones closed up by 0.55% percent, S&P 500 closed up by 0.32% percent, Nasdaq settled up by 0.25% percent.
Commodities Recap
Gold prices pared gains following news reports that U.S. President Donald Trump planned to fire Federal Reserve Chair Jerome Powell, but trimmed gains after Trump denied the claim.
Spot gold rose 1% to $3,354.01 per ounce, as of 0153 p.m. EDT (1753 GMT) after rising as much as 1.6% earlier.U.S. gold futures settled 0.7% higher at $3,359.1.
Oil prices settled slightly lower on Wednesday, as a rise in U.S. fuel inventories and concerns over the broader economic impact of U.S. tariffs overshadowed signs of strengthening demand.
Brent crude futures settled 19 cents, or 0.3% lower, at $68.52 a barrel. U.S. West Texas Intermediate crude futures were down 14 cents, or 0.2%, at $66.38.