Posted at 21 July 2025 / Categories Market Roundups
Market Roundup
•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
•US Leading Index (MoM) (Jun) -0.3%,-0.2%forecast,0.0% previous
Looking Ahead Economic Data(GMT)
•No Data Ahead
Looking Ahead Events And Other Releases(GMT)
•01:30 Australia RBA Meeting Minutes
Currency Forecast
EUR/USD: The euro rose higher on Monday as investors awaited signs of progress on a trade accord between the United States and the European Union. Trade negotiations remained in focus as EU diplomats revealed the bloc is considering broad 'anti-coercion' measures, potentially targeting U.S. services or restricting access to public tenders if a deal fails to materialize.U.S. President Donald Trump has threatened to impose 30% tariffs on European imports if a trade agreement is not reached by the August 1 deadline. Markets are also looking ahead to the European Central Bank’s policy decision later this week, with traders widely expecting no change in interest rates. 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 1.1707(SMA 20 ), an upside break can trigger rise towards 1.1816(Higher BB).On the downside, immediate support is seen at 1.1611(38.2%fib), a break below could take the pair towards 1.1581(Lower BB).
GBP/USD: The British pound strengthened 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 1.3547(38.2%fib), an upside break can trigger rise towards 1.3574(SMA 20).On the downside, immediate support is seen at 1.3378(50%fib), a break below could take the pair towards 1.3311(Lower BB).
USD/CAD: The Canadian dollar strengthened against the U.S. dollar on Monday as investors looked ahead to potential trade developments involving the United States and key central bank decisions in emerging European markets. Attention remained on the upcoming meeting between the Philippine president and U.S. President Trump, with hopes of securing a new trade agreement. To date, only the UK, China, Indonesia, and Vietnam have finalized deals with the U.S. since the introduction of broad tariffs that disrupted global trade. Markets are optimistic about the possibility of additional agreements before the updated August 1 deadline. Meanwhile, domestic focus shifted to the Bank of Canada’s Business Outlook Survey, expected later in the day, for insights into business confidence amid ongoing trade-related uncertainty. Immediate resistance can be seen at 1.3691(50% fib), an upside break can trigger rise towards 1.3763 (Higher BB).On the downside, immediate support is seen at 1.3589(Jul 7th low ), a break below could take the pair towards 1.3553(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 closed lower on Monday after a volatile session, as investors assessed mixed corporate earnings and awaited the outcome of ongoing U.S.-EU trade talks
UK's benchmark FTSE 100 closed up by 0.23 percent, Germany's Dax ended up by 0.08 percent, France’s CAC finished the day up by 0.31 percent.
Wall Street stocks climbed on Monday, while Treasury yields eased, as investors braced for a packed week of corporate earnings and closely watched tariff negotiations ahead of the looming August 1 deadline.
Dow Jones closed up by 0.04% percent, S&P 500 closed low, by 0.14% percent, Nasdaq settled up by 0.38% percent.
Commodities Recap
Gold prices rose over 1% to a five-week high on Monday, supported by a weaker dollar and falling U.S. bond yields, as uncertainty grew ahead of the August 1 deadline for countries to reach trade deals with Washington or risk new tariffs.
Spot gold was up 1.3% at $3,394.23 per ounce at 02:34 p.m. ET (1834 GMT), hitting its highest since June 17. U.S. gold futures settled 1.4% higher at $3,406.40.
Oil prices ended slightly lower on Monday, with new European sanctions on Russian oil seen as having limited supply impact. However, losses were capped as investors assessed the risk of declining diesel supplies.
Brent crude futures settled down 7 cents, or 0.1%, to $69.21 a barrel. U.S. West Texas Intermediate crude settled down 14 cents, or 0.2%, to $67.20.