Posted at 21 July 2025 / Categories Market Roundups
Market Roundup
• China PBoC Loan Prime Rate (Jul) 3.50%, 3.50%forecast, 3.50% previous
• China PBoC Loan Prime Rate 3.00%, 3.00% forecast, 3.00% previous
Looking Ahead Economic Data(GMT)
•07:00 Switzerland M3 Money Supply (Jun) 1,175.2B previous
•08:00 Greek Current Account (YoY) (May) -2.112B previous
Looking Ahead Events And Other Releases(GMT)
•No Events Ahead
Currency Forecast
EUR/USD: The euro edged higher on Monday as investors monitored developments in U.S. trade talks and awaited potential market-moving catalysts. Investors are eyeing developments in trade negotiations ahead of U.S. President Donald Trump's August 1 deadline, as U.S. Commerce Secretary Howard Lutnick remains optimistic about reaching a deal with the European Union. The European Central Bank is due to meet this week and is expected to hold its rates steady after a string of cuts. The ECB is widely expected to keep interest rates unchanged at 2% on Thursday. Attention will be on the tone of the ECB statement and President Christine Lagarde's press conference. Eurozone data begins Thursday with flash PMIs, followed by Germany's Ifo business survey on Friday. 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 on Monday as markets turned their attention to U.S. President Donald Trump's looming tariff announcements ahead of the August 1 deadline. Investor focus has remained on Trump’s global trade agenda, following a Financial Times report suggesting he is pushing for steep new tariffs on European Union goods.U.S. Commerce Secretary Howard Lutnick expressed confidence on Sunday that a trade deal with the EU could be reached, but reaffirmed that August 1 is a firm deadline for the tariffs to take effect.UK economic calendar is relatively quiet, with PMIs due on Thursday and retail sales on Friday. Bank of England Governor Andrew Bailey and Finance Minister Rachel Reeves are also scheduled to testify before Parliament this week. 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 1.3439(50%fib), a break below could take the pair towards 1.3381(Lower BB).
AUD/USD: The Australian dollar traded in a subdued manner as investors awaited the release of the Reserve Bank of Australia's (RBA) July monetary policy meeting minutes, scheduled for Tuesday. These minutes may provide insight into a rare split among policymakers ahead of the decision to keep the cash rate steady at 3.85%.The RBA surprised markets by holding rates unchanged this month, with Governor Michele Bullock citing concerns over the reliability of the monthly inflation data as a key reason behind the pause.Governor Bullock is also set to speak on Thursday at the Anika Foundation’s annual fundraising lunch. Meanwhile, following last week’s unexpectedly soft jobs report, markets have now priced in a 90% chance of a rate cut by the RBA in August. Immediate resistance can be seen at 0.6565(23.6%fib), an upside break can trigger rise towards 0.6582(Higher BB).On the downside, immediate support is seen at 0.6440 (38.2%fib), a break below could take the pair towards 0.6413(Lower BB).
USD/JPY: The U.S. dollar edged lower on Monday as the yen firmed, following a political setback in Japan where the ruling coalition lost its majority in the upper house. Investors are now bracing for potential policy paralysis and market uncertainty in the world’s fourth-largest economy, particularly with a key U.S. tariff deadline approaching. With Japanese markets closed, the yen served as a barometer of investor sentiment. Early trading suggested the election outcome was mostly priced in. Prime Minister Shigeru Ishiba’s Liberal Democratic Party secured 47 seats—three short of the 50 required for a majority in the 248-seat chamber, where half the seats were up for election.The yen strengthened to 148.44 per dollar, though it remained near last week’s 3.5-month low amid ongoing concerns about Japan’s political and fiscal outlook. 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 markets and the yen remained steady on Monday, as Japan's election results delivered setbacks for the ruling party but largely aligned with investor expectations.
South Korea’s KOSPI was up 0.71% , Hang Seng was up 0.61 %,China A 50 was up 0. 31%
Commodities Recap
Gold prices rose on Monday, buoyed by a weaker dollar, as investors closely monitored U.S. trade talks and awaited key catalysts, including next week’s Federal Reserve policy meeting.
Spot gold was up 0.6% at $3,368.39 per ounce, as of 0534 GMT. U.S. gold futures rose 0.5% to $3,376.
Oil prices were steady on Monday as traders weighed the impact of new European sanctions on Russian crude against concerns that tariffs and rising output from Middle Eastern producers could weaken fuel demand.
Brent crude futures climbed 6 cents to $69.34 a barrel by 0344 GMT after settling 0.35% lower on Friday. U.S. West Texas Intermediate crude was at $67.51 a barrel, up 17 cents, following a 0.30% decline in the previous session.