Posted at 17 July 2025 / Categories Market Roundups
Market Roundup
•Australia MI Inflation Expectations (Jul) 4.7%, 5.0% previous
•Australia Employment Change (Jun) 2.0K ,21.0K forecast,-1.1K previous
•Australia Full Employment Change (Jun) -38.2K, 38.7K previous
•Australia Participation Rate (Jun) 67.1%, 67.0% forecast,67.0% previous
•Australia Reserve Assets Total (Jun) 102.5B, 103.4B previous
•Australia Unemployment Rate (Jun) 4.3%,4.1%forecast,4.1% previous
•Australia NAB Quarterly Business Confidence -1,-3 previous
Looking Ahead Economic Data(GMT)
•09:00 Eurozone Core CPI (YoY) (Jun): 2.3% forecast, 2.3% previous
•09:00 Eurozone Core CPI (MoM) (Jun): 0.4% forecast, 0.0% previous
•09:00 Eurozone CPI (MoM) (Jun): 0.3% forecast, 0.0% previous
•09:00 Eurozone CPI (YoY) (Jun): 2.0% forecast, 1.9% previous
•09:00 Eurozone CPI ex Tobacco (MoM) (Jun): -0.1% previous
•09:00 Eurozone CPI ex Tobacco (YoY) (Jun): 1.8% previous
•09:00 Eurozone CPI, n.s.a (Jun): 129.07 forecast, 128.71 previous
•09:00 Eurozone HICP ex Energy & Food (YoY) (Jun): 2.4% forecast, 2.4% previous
•09:00 Eurozone HICP ex Energy and Food (MoM) (Jun): 0.3% forecast, 0.1% previous
Looking Ahead Events And Other Releases(GMT)
•No Events Ahead
Currency Forecast
EUR/USD: The euro edged lower against the dollar on Thursday as concerns U.S. President Donald Trump was preparing to fire the Federal Reserve chair kept investors 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 .The euro was last down 0.14% at $1.1625. 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 lower against the U.S. dollar on Thursday as market sentiment remained cautious amid uncertainty surrounding Federal Reserve Chair Jerome Powell’s future. Confusion followed reports suggesting President Donald Trump might remove Powell, briefly unsettling stocks and the dollar. While Trump later clarified he had no immediate plans to fire Powell, he left the door open and reiterated criticism over the Fed's reluctance to cut interest rates. On the data front, UK wage growth (excluding bonuses) came in slightly above expectations at 5.0% in the three months to May, compared to a forecast of 4.9%. This was down from the previously reported 5.2% in the three months to April.Sterling edged 0.2% lower to $1.3395. 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 fell to a three-week low on Thursday after employment data missed expectations and the jobless rate surged to a three-year high. Data from the Australian Bureau of Statistics showed net employment rose by just 2,000 in June, well below the forecast of a 20,000 increase, and followed a revised 1,100 decline in May. The unemployment rate jumped to 4.3% from 4.1%, the highest since November 2021, surprising markets after a prolonged period of stable readings. The soft labor market figures added to signs of an economic slowdown and reinforced expectations for monetary easing. Following the data, markets are now pricing in a 90% probability of a rate cut by the Reserve Bank of Australia in August. 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 advanced Thursday as yen slid as concerns mounted over a pivotal election in Japan and a still elusive trade deal with the U.S. to avoid a punishing rise in tariffs. Polls showed Prime Minister Shigeru Ishiba's coalition was in danger of losing its majority in the upper house. Japan’s top trade negotiator held a phone call with U.S. Commerce Secretary Howard Lutnick on tariffs, as data showed the Asian nation's exports were starting to feel the impact of tariffs with shipments down for a second straight month.Japan failed to clinch a deal with the U.S. before the July 9 expiration of the temporary pause on the country-specific tariffs. Investors remain focused on tariffs ahead of an August 1 deadline when many trading partners face higher trade levies.. 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
Asian stocks gained on Thursday as investors awaited earnings from major tech firms while uncertainty remained over Federal Reserve Chair Jerome Powell’s future.
South Korea’s KOSPI was up 0.08% , Hang Seng was up 0.14 %,Japan’s Nikkei 225 was up 0. 60%
Commodities Recap
Gold slipped Thursday as the dollar firmed and market nerves eased following Trump’s remarks downplaying Powell’s removal.
Spot gold was down 0.2% at $3,340.79 per ounce, as of 0400 GMT. U.S. gold futures fell 0.4% to $3,347.10.
Oil prices climbed Thursday, ending a three-day drop, helped by better-than-expected economic data and signs that trade tensions may be easing.
Brent crude futures rose 24 cents, or 0.35%, to $68.76 a barrel at 0457 GMT. U.S. West Texas Intermediate crude futures were up 33 cents, or 0.5%, at $66.71. Both benchmarks fell more than 0.2% in the previous session.