Posted at 18 July 2025 / Categories Market Roundups
Market Roundup
• US Building Permits (MoM) (Jun): 0.2%, -2.0% previous
•US Building Permits (Jun): 1.397M, 1.390M forecast, 1.394M previous
•US Housing Starts (MoM) (Jun): 4.6%, -9.7% previous
•US Housing Starts (Jun): 1.321M, 1.290M forecast, 1.263M previous
•US Michigan 1-Year Inflation Expectations (Jul): 4.4%, 5.0% forecast, 5.0% previous
•US Michigan 5-Year Inflation Expectations (Jul): 3.6%, 3.9% forecast, 4.0% previous
•US Michigan Consumer Expectations (Jul): 58.6, 55.0 forecast, 58.1 previous
•US Michigan Consumer Sentiment (Jul): 61.8, 61.4 forecast, 60.7 previous
•US Michigan Current Conditions (Jul): 66.8, 63.9 forecast, 64.8 previous
•US Atlanta Fed GDPNow (Q2): 2.4%, 2.4% forecast, 2.4% previous
•US Baker Hughes Oil Rig Count: 422, 424 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 gave back some of its earlier gains against dollar after a report showed the U.S. is taking a tougher approach to tariffs on European imports.. President Donald Trump is reportedly pushing for a minimum 15–20% tariff in any U.S.-EU trade deal and is weighing reciprocal tariffs above 10%, according to the Financial Times. The report adds that Trump remains firm on keeping car duties at 25% despite recent EU concessions. Investor sentiment soured following the news as fears of escalating trade tensions resurfaced. The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, fell 0.05% to 98.46. The euro was last up 0.27% at $1.1626. Immediate resistance can be seen at 1.1716(July 16th high ), an upside break can trigger rise towards 1.1825(23.6%fib).On the downside, immediate support is seen at 1.1552(38.2%fib), a break below could take the pair towards 1.1490 (Lower BB).
GBP/USD: Sterling retreated against dollar on Friday as traders reassessed the Bank of England's rate outlook amid mixed economic data. The UK’s Office for National Statistics (ONS) reported on Thursday that the ILO Unemployment Rate ticked up to 4.7% in the three months to May, slightly higher than the previous reading of 4.6%. During the same period, employment increased by 134,000, marking an acceleration from the 89,000 gain recorded previously. Markets are now nearly fully pricing in an August rate cut, with another likely by year-end. However, while fewer BoE cuts would normally support the pound, gains remain limited due to concerns over the impact of higher borrowing costs on the UK’s public finances. Sterling was last down 0.01% on the day against the dollar at $1.3416, it was set for a weekly fall of 0.3%.Immediate resistance can be seen at 1.3558(38.2%fib), an upside break can trigger rise towards 1.3691(July 4th high).On the downside, immediate support is seen at 1.3346(50%fib), a break below could take the pair towards 1.3221(Lower BB).
USD/CAD: The Canadian dollar strengthened on Friday as greenback dipped as investors assessed the Federal Reserve's policy outlook amid signs that tariffs may be fueling inflation. This week served as a litmus test for how Trump's economic policies are impacting the broader U.S. economy. A slew of economic indicators for June painted a mixed picture, with strong retail sales, rising consumer inflation, and unchanged producer prices. The University of Michigan’s July survey showed an uptick in consumer sentiment and a drop in short-term inflation expectations, though households remained concerned about the potential for renewed price pressure. Looking ahead, investors will closely watch Monday’s Bank of Canada Business Outlook Survey for insights into business sentiment amid ongoing tariff-related uncertainty. The loonie was trading 0.2% higher at C$1.3725 to the greenback , after trading in a range of 1.3696 to 1.3753. Immediate resistance can be seen at 1.3730(July 11th high), an upside break can trigger rise towards 1.3795(50%fib).On the downside, immediate support is seen at 1.3672(38.2%fib), a break below could take the pair towards 1.3563(Lower BB).
USD/JPY: The U.S. dollar strengthened on Friday as the Japanese yen came under pressure ahead of Japan's critical Upper House elections on Sunday. The vote is shaping up to be one of the most significant in years, with recent polls indicating that the ruling LDP–Komeito coalition may fail to retain its majority. The possibility of political instability has heightened market caution. On the economic front, Japan’s core consumer price index (CPI), which excludes volatile fresh food items, rose 3.3% year-over-year in June matching expectations but remaining well above the Bank of Japan’s 2% inflation target. Persistent price pressures continue to pose challenges for Prime Minister Ishiba and the central bank as they navigate a fragile economic recovery. 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 stocks ended flat on Friday, with losses in heavyweight healthcare firms offset by gains in oil and gas shares, wrapping up a week dominated by corporate earnings across the region.
UK's benchmark FTSE 100 closed up by 1.51 percent, Germany's Dax ended up by 0.52 percent, France’s CAC finished the day down by 1.29 percent.
The S&P 500 and Nasdaq closed nearly flat on Friday, recovering from an early slide sparked by a Financial Times report that President Trump is seeking steep new tariffs on EU goods.
Dow Jones closed down by 0.32% percent, S&P 500 closed down by 0.01% percent, Nasdaq settled up by 0.05% percent.
Commodities Recap
Crude prices remained largely unchanged Friday, weighed by mixed U.S. data and renewed concerns about supply disruptions from the EU’s latest sanctions on Russia.
Brent crude futures fell 24 cents, or 0.3%, to settle at $69.28 a barrel, while U.S. West Texas Intermediate (WTI) crude futures fell 20 cents, or 0.3%, to end at $67.34.
Gold edged higher on Friday as investors sought safety from global risks and a declining dollar, while platinum prices eased off after rallying to a 2014 peak.
Spot gold rose 0.4% to $3,351.18 per ounce, as of 0153 p.m. EDT (1753 GMT), after falling 1.1% in the previous session.U.S. gold futures settled 0.4% higher at $3,358.3.