Posted at 21 July 2025 / Categories Market Roundups
Market Roundup
• Swiss M3 Money Supply (Jun) 1,184.6B, 1,175.5B previous
• Greek Current Account (YoY) (May) 0.196B, -2.112B previous
• Canada IPPI (YoY) (Jun) 1.7%, 1.3% previous
• Canada IPPI (MoM) (Jun) 0.4%, 0.1% forecast, -0.5% previous
• Canada RMPI (YoY) (Jun) 1.1% , -3.2% previous
• Canada RMPI (MoM) (Jun) 2.7%, -0.1% forecast, -0.7% previous
• French 12-Month BTF Auction 1.902%,1.914% previous
• French 3-Month BTF Auction 1.938% ,1.940% previous
• French 6-Month BTF Auction 1.935% ,1.925% previous
Looking Ahead Economic Data(GMT)
• 14:00 US Leading Index (MoM) (Jun) -0.2% forecast, -0.1% previous
• 15:30 US 3-Month Bill Auction 4.245% previous
• 15:30 US 6-Month Bill Auction 4.125% previous
Looking Ahead Events And Other Releases(GMT)
•No Events Ahead
Currency Forecast
EUR/USD: The euro edged higher on Monday as markets looked ahead to developments in trade negotiations and the upcoming European Central Bank policy meeting. Investors were hoping for progress before U.S. President Donald Trump's August 1 tariff deadline, with Commerce Secretary Howard Lutnick remaining optimistic about a potential deal with the EU. Focus will be on the ECB's policy statement and President Christine Lagarde’s press conference. Key Eurozone data kicks off Thursday with flash PMIs, followed by Germany’s Ifo business climate 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: The British pound edged higher against the dollar, but remained close to the multi-week lows it reached against both currencies last week as investor attention remains on Bank of England policy and the deteriorating fiscal picture.Britain's economic data was mixed on balance last week - the labour market showed signs of a further cooling, while consumer price inflation unexpectedly rose to its highest in more than a year.A quarter-point rate cut from the Bank of England at its meeting on August 7 remained almost fully priced after the data, with about 50 basis points of easing priced in by the end of the year. Retail sales data due on Friday could give a clearer picture on the state of the consumer, while a preliminary survey of purchasing managers on business activity is set for release on Thursday.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 slipped on Monday as the yen strengthened, following a political setback in Japan where the ruling coalition lost its majority in the upper house. Investors are now wary of potential policy gridlock and market volatility in the world’s fourth-largest economy, especially with a key U.S. tariff deadline looming. With Japanese markets closed, the yen acted as a gauge of investor sentiment. Early trading indicated that the election outcome was largely priced in. Prime Minister Shigeru Ishiba’s Liberal Democratic Party won 47 seats three short of the 50 needed for a majority in the 248-seat chamber, where half the seats were contested.The yen strengthened to 147.38 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
European shares eased on Monday as investors awaited progress in trade talks and this week’s European Central Bank policy meeting, while U.S. futures gained ground ahead of major tech earnings.
At GMT (13:22) UK's benchmark FTSE 100 was last trading down at 0.02 percent, Germany's Dax was down by 0.20 percent, France’s CAC was down by 0.58 percent.
Commodities Recap
European shares dipped on Monday as investors awaited progress in trade talks and the upcoming European Central Bank policy meeting, while U.S. futures edged higher ahead of key tech earnings reports.
At GMT (13:22) UK's benchmark FTSE 100 was last trading down at 0.21 percent, Germany's Dax was down by 0.60 percent, France’s CAC was down by 0.97 percent.
Commodities Recap
Gold prices edged higher on Monday, supported by a weaker U.S. dollar, as investors looked for clarity on trade negotiations ahead of the August 1 U.S. tariff deadline.
Spot gold was up 0.5% at $3,369.17 per ounce by 1114 GMT. U.S. gold futures rose 0.5% to $3,376.30.
Oil prices slipped slightly on Monday, as fresh European sanctions on Russian oil were seen having limited impact on supply, while U.S. tariffs continued to fuel demand concerns.
Brent crude futures fell 20 cents, or 0.3%, to $69.08 a barrel, extending Friday’s 0.35% loss. U.S. West Texas Intermediate (WTI) crude edged down 6 cents, or 0.1%, to $67.28, after slipping 0.3% in the prior session