Posted at 22 July 2025 / Categories Market Roundups
Market Roundup
• New Zealand Exports (Jun) 6.63B, 7.50B previous
• New Zealand Imports (Jun) 6.49B, 6.42B previous
• New Zealand Trade Balance (MoM) (Jun) 142M, 1,020M forecast, 1,082M previous
• New Zealand Trade Balance (YoY) (Jun) -4,370M, -3,930M previous
Looking Ahead Events And Other Releases(GMT)
•08:00 Greek Current Account (YoY) (May) -2.112B previous
•9:00 Belgium Consumer Confidence (Jul) -4 previous
Looking Ahead Events And Other Releases(GMT)
•No Events Ahead
Currency Forecast
EUR/USD: The euro edged lower on Tuesday as investors remained cautious ahead of an August 1 deadline for countries to finalize trade agreements with the United States or face hefty new tariffs. U.S. President Donald Trump has threatened to impose 30% duties on European imports if no deal is reached, intensifying concerns over transatlantic trade tensions. According to EU diplomats, the European Union is preparing a wider range of retaliatory measures in response, as hopes for a mutually acceptable agreement with Washington continue to dim. Adding to the market's focus, the European Central Bank is widely expected to keep interest rates unchanged at 2.0% when it concludes its policy meeting on July 24, following a series of rate cuts in recent months. The euro was last trading at $1.1689, after rising 0.5% in the previous session 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 on Tuesday as markets looked for progress in trade talks ahead of an August 1 deadline. U.S. Treasury Secretary Scott Bessent said on Monday that the administration is more concerned with the quality of trade agreements than their timing.Asked whether the deadline could be extended for countries engaged in productive talks with Washington, Bessent said President Donald Trump would make that decision.Uncertainty over the eventual state of tariffs globally has been a huge overhang for the foreign exchange market, leaving currencies trading in a tight range for the most part. The dollar was last steady after slipping in the previous session due in part to the yen's rise and a dip in U.S. Treasury yields, leaving sterling trading 0.13% lower at $1.3474. 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 edged lower on Tuesday as investors digested the Reserve Bank of Australia's (RBA) July meeting minutes. The minutes highlighted the central bank’s continued preference for a "cautious and gradual" easing strategy, with policymakers expressing reluctance to cut interest rates too aggressively despite growing calls for stimulus. Most RBA board members at the July 7–8 meeting considered the 3.85% rate to be mildly restrictive, but noted uncertainty over how much room remained to cut before reaching a neutral stance. The RBA said several data indicators had been in line with or even slightly stronger than forecasts, pointing to the benefit of waiting for a little longer. Looking ahead, traders will closely watch remarks from RBA Governor Michele Bullock, scheduled to speak in Sydney at 0305 GMT on Thursday. Her comments may offer further insights into the central bank’s policy direction. 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 gained against Japanese yen on Tuesday as markets largely looked past the LDP-Komeito coalition’s election defeat. Japan’s ruling LDP, under Prime Minister Ishiba, secured 47 seats in the upper house elections, narrowly missing the 50-seat mark needed for control.The election outcome, while largely priced in by markets, comes at a sensitive moment as Japan pushes to secure a trade agreement with President Trump before August 1. Following the election, the BOJ may be forced to walk a fine line managing rising inflation pressures from expected fiscal spending while navigating political paralysis and trade war risks that argue against tightening. Investors remain focused on Trump’s escalating trade moves, after a Financial Times report last week said he was pushing for sharp new tariffs on EU goods. 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 share markets drifted lower on Tuesday as investors took stock of tariff negotiations between the U.S. and its trading partners.
South Korea’s KOSPI was down 1.27% , Hang Seng was up 0.38 %, Japan's Nikkei 225-0.19%
Commodities Recap
Gold retreated on Tuesday from a one-month high, as profit-taking and a modest dollar rebound weighed on prices, with traders eyeing progress in trade talks before the August 1 da
Spot gold was little changed at $3,389.98 per ounce, as of 0503 GMT. Earlier in the session, bullion hit its highest level since June 17.U.S. gold futures held their ground at $3,402.90.
Oil prices fell on Tuesday as fears grew that escalating trade tensions between the U.S. and the EU could slow economic activity and dampen fuel demand.
Brent crude futures were down 28 cents, or 0.40%, to $68.93 a barrel at 0658 GMT. U.S. West Texas Intermediate crude was at $66.83 a barrel, down 37 cents, or 0.55%. Both benchmarks settled slightly lower on Monday.